Wednesday, August 17, 2022

How the Metaverse Will Enter a Passwordless World

The metaverse is all in the news. Users are betting on a virtual reality world where they can interact and experience things as they would in the real world. While the metaverse promises to replicate elements of real life, one aspect that cannot be ignored is the privacy and security challenges that the digital space brings with it.

As the online and offline worlds collide, many are excited by the tremendous technological potential of the metaverse in terms of transforming traditional finance, experiential e-commerce and gaming, but some are concerned about the potential costs users may have to pay for the privilege. Will have to do

In today’s column, we discuss the future of passwords in the metaverse. Before we delve into the topic, here’s a quick round-up of the Metaverse. It is a concept coined by sci-fi writer Neil Stephenson in his 1992 novel Snow Crash. In essence, the Metaverse is a blend of offline and online experiences in an interactive digital space, where social interactions and transactions can take place simultaneously.

Cybercrime and the Metaverse

Like social media, the metaverse is prone to cyber attacks including phishing, ransomware attacks and more, reveals a new report from Aerms, an Italian company that exploits artificial intelligence applied to cybersecurity. The company in its report identified the main forms of cybercrime risk in the metaverse. The cyber security company identifies the main forms of hacker attacks in the Metaverse:

#Information Theft: Users may unknowingly share their sensitive data directly with hackers, putting their real-life assets at risk.

Identity theft: Theft of the user’s avatar which would cause the hacker to be identified as the real owner, would enable the relevant malicious acts.

#Cryptocurrency theft: Users can be robbed of passwords from their crypto and NFT wallets, and keys to access their avatars in the metaverse.

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big question

“With the advent of social media and the explosion of different platforms, now including the Metaverse, the world is dealing with this as well: how do we really know who’s sitting on the other side of the Metaverse? And whether it’s the person they claim to be. Does it? Or is it a real person too?” asked Siddharth Gandhi, chief operating officer of 1Cosmos, a cyber security firm that deals in passwordless authentication.

Siddhartha Gandhi, Chief Operating Officer, 1st Kosmos. (Photo: 1Kosmos)

We’re hearing that Elon Musk has come out to take over Twitter, and one of his major questions is, how many bots are there on the other side? Musk has talked about identity-based verification not once but many times. “…that’s where the whole origin of password-less requirements begins, whether you’re asking the person who is logging into social media, or the metaverse, to prove who they are before they log in.” And this is where password-less authentication comes into play,” Gandhi said.

Change

With major tech companies now confident in a passwordless future, all of this may be set to change. For example, Apple, Google and Samsung have introduced biometrics for users, and this will eventually spread to other services on those devices.

Password-based authentication in the metaverse will be flawed and cumbersome methods of security, unlike new ones like biometrics. Big tech companies have realized that there is a need to move towards a future without passwords. Otherwise they are making life easier for cybercriminals, whose technology is also improving.

In the Metaverse, users will simply use biometrics to log on to their first point of entry. From there they will be able to move around without any problem. “At any time if you need to enter a secure perimeter, whether in a virtual world or physical you are required to enter your username and password or an additional multi-factor authentication which is an OTP.” But, that’s not how you’ll enter the metaverse. “…what we want to try and bring is that each of us has a unique person, biometric—a fingerprint, Face ID, or Live ID where we ask the person to take a selfie and identify that person.” Asking to show real features. Be able to log in. So it’s very simple, yet extremely powerful,” says Gandhi.

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This may be possible through something called BlockID.

For example, when there is a data breach, the key things a hacker is looking for is taking the user’s credentials and once they get it, they access the central database, They remove the data there, whether it’s their IP address or sensitive information about users. “The beauty of BlockID is that it is based on the blockchain. So there is no centralized database where the user is in control of their identity. All transactions on the blockchain are in encrypted form in terms of authentication against the old one. Hence neither the enterprise nor the Only we as a service provider can access that information. Correct. So it is completely secure on the distributed ledger,” he said.

Password-based authentication is so deeply rooted in the Internet that it seems almost impossible to imagine a world without passwords. However, with the emergence of the metaverse and blockchain technology, it may be a perfect time to ditch passwords once and for all, making the virtual space safer for all.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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