Smart Card technology is encouraged for more secure online environment

Smart Card Alliance Identity Council issues a Whitepaper Whitepaper A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho A whitepaper is defined as a pitch or persuasive, authoritative, and often in-depth report on a specific topic that presents a problem along with a respective solution. Marketers rely on whitepapers for a variety of reasons, most simply to educate an audience about a particular issue or to promote a particular methodology. In the cryptocurrency world, a whitepaper is a document that should contain all of the information about the technology that was used to build a cryptocurrency network, and ho Read this Term presenting the advantages of smart cards in internet payment transactions.

The Smart Card Alliance Identity Council, a non-profit organization working in the education of identity protection through solid authentication and authorization, has issued a white paper that presents and promotes the use of smart card credentials for online payment transactions. The Identity Council stands by the White House’s NSTIC initiative to create improvements in the use of credentials for online identity authentication in order to develop a “trusted identity ecosystem”.

“As our use of the Internet has increased, so has cybercrime, especially identity theft. The NSTIC recognizes that traditional forms of online identity verification are no longer sufficient, and takes on the critical task of better securing our online lives,” said Bryan Ichikawa, senior manager, Deloitte & Touche LLP, and chair of the Identity Council.

The white paper discusses the difficulties of password usage in online identification and foregrounds the obvious weaknesses: We cannot remember numerous passwords for the countless sites that we visit on a day to day basis thus we use and re-use one or 2 passwords, which is, for security reasons, problematic at best.

The smart card is based on a Tokenization Tokenization Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Tokenization represents the process of substituting a sensitive data element with a non-sensitive equivalent, i.e. token, which bears no extrinsic or exploitable meaning or value. In essence, the rights to the ownership of an asset are converted into a digital token. Tokenization can be used to own an entire unit of an asset. For example, one token that represents the ownership of a piece of real estate or to split ownership of a single unity of an asset such as 200,000 tokens, each one represen Read this Term technology, whereby each internet user is provided with a single and secure identity number to be used for all internet requirements and according to the Smart Card Alliance Identity Council, there are many advantages for the technology which is designed to protect again fraud:

• The cardholder alone can confirm a transaction.
• While securing the individual’s identity, his privacy is maintained.
• Smart-card token can store electronic identifications and diminishes the risk of hacking, copies and tampering.