A simple way to understand blockchain is to visualize a digital ledger. This is a public record of transactions that can’t be deleted or edited. It has a decentralized structure that prevents tampering. This technology is openly available for anyone to view, which ensures the security of the ledger system. The value of the blockchain relies on the ability to authenticate the transaction.
What is Blockchain
Users often ask what is blockchain? They may already know that it allows users to send or receive digital payments. This money is called a cryptocurrency, and it’s stored in a secure digital wallet. The blockchain itself is just a protocol; the blockchain is most closely associated with various digital currencies like Bitcoin or Ethereum. However, other applications for blockchain are emerging, and Authena Shield is a great example of how this can work and explains it here https://authena.io/what-is-blockchain/.
Blockchain Authentication Overview
At its core, the blockchain is simply a digital protocol; however, the way it gets applied can reveal a lot about its structure. For example, a blockchain authentication system functions as a verification system. Verification that can be done instantly provides an immense value to all participants within a digital network. This is a necessary part of any robust security protocol that will enable users to be confident in the validity of the application.
Blockchain technology uses encryption to ensure security for the digital wallets. Authentication is the process of ensuring that the user’s identity is verified. This is often done by using a unique identity number, for example. Most references to blockchain refers to the wallets that hold cryptocurrencies, but there are other uses for this technology. The ability to secure transactions online holds great potential for businesses as well as public sector programs.
Authena Shield and Blockchain
The use of blockchain technology in the Authena Shield application makes it a perfect representative example of how blockchain can be applied in different contexts. The protection against forgery, smuggling and other illicit activities is offered to various businesses through the Authena Shield product. The need for a service that protects the integrity of the transaction between a business entity and a customer and the authenticity of products is at a premium value under the conditions brought into being during the COVID-19 pandemic.
The security issue became even more relevant for businesses engaging in e-commerce during this period. Illegal activities rose with the increase in online commercial activities catalyzed by the COVID-19 pandemic. Once a problem is widespread, there will be companies attempting to solve the problem using similar blockchain structures. One example is Authena Shield, which was developed to help businesses to secure their products against smuggling and counterfeiting.
Benefits of Authena Shield
Authena Shield provides a simple mobile user interface that enables instant authentication of various products. This solution is tamper-proof, and it ensures authenticity from one end to the other. The blockchain structure enables complete visibility throughout the whole supply chain. There is also an added benefit of having direct access to customers, which enhances the value of the brand. This enables the company to develop and activate new channels for marketing with ease. Recall processes are streamlined and easier to manage.
On the user side of the experience, there is no application download required in order to start benefiting from using this product. The interaction is enabled right away without any need to open a Web camera. Single units can be tracked using a real-time dashboard which is provided to producers. Verification is an essential process for building the trust and user interaction that increases the value proposition for the business. Customers tend to rely on the services they have come to trust.
Real-Time Blockchain Authentication
Bside safely recording information on blockchain, Authena Shield allows instant distributors and final customers interactions to authenticate the products via NFC-based smart security seals.The validation of this technology can be observed in its widespread adoption within the industries that rely on electronic passports and contactless credit cards. This single product can provide essential online security for businesses involved in industries like food, pharmaceuticals, cosmetics and others. Reliance on the security of blockchain, combined with NFC, is critical for the functioning of these systems, user adoption and general confidence in their security. Customers need to have a high level of confidence in the transparency of the process and the longevity of this solution for their future needs.
What is Blockchain Technology in Authena Shield
Anyone interested in learning more about the answer to the question “what is blockchain”, can into the underlying structure of the Authena Shield system. This is an example of blockchain technology that is successfully deployed in a different environment than the most common one, which is the payment system for cryptocurrencies.
The fact that Authena Shield can integrate within both the B2C and B2B environments demonstrates its adaptability. Additionally, there is no additional technology support required, so the business won’t have to invest in expensive IT support services. This is just one product built on the structure of the blockchain in order to provide efficient and innovative solutions to businesses of all sizes.