Metaverse: Password use may soon be history | The Financial Express

Metaverse: Password use may soon be history

With help of a technology like blockchain, platform is expected to do away with old security tools, making it safer and simpler for users

Metaverse: Password use may soon be history
BlockID is so effective because it is based on blockchain, which means it is supported by a distributed ledger at the back end. This makes the platform very secure since there is no central database” Siddharth Gandhi, COO, 1Kosmos

By Mehab Qureshi

Metaverse is all the buzz. Users are betting on a virtual reality world where they can interact and experience things as they would in the real world, with the metaverse promising to change traditional finance, e-commerce and gaming. At the same time, the privacy and security challenges that the digital space brings with it cannot be ignored.

Like social media, the metaverse is prone to cyber-attacks, including phishing and ransomware attacks, reveals a new report by Ermes, an Italian company that uses artificial intelligence for cybersecurity. “With the advent of social media and the rise of new platforms, including metaverse, users are grappling with a very important question: how do we make sure who’s sitting at the other end? Is it the person who he or she claims to be? Is it even a real person?” said Siddharth Gandhi, chief operating officer, 1Kosmos, a cybersecurity firm dealing in passwordless authentication.

We’ve been hearing about Elon Musk’s Twitter feud, and one of his key questions is about the number of bots on the platform. Musk has talked about identity-based verification not once but several times. “That’s where passwordless authentication comes into play, as you want the person who’s logging in to social media, or metaverse to prove who they are before they are let in, something passwords don’t always do,” said Gandhi.

Also Read: Qualcomm to make virtual reality chips for Meta

Major tech companies are actively working on a passwordless future. For example, Apple, Google, and Samsung have introduced biometrics for users, and its usage will eventually cover other services on their devices and applications.

Password-based authentication in the metaverse is flawed and cumbersome as compared to new security tools like biometrics. And big tech companies have realised that it only makes life easier for cybercriminals, whose tools are getting more sophisticated over time .

In the metaverse, users would simply use biometrics to log in at the first point of entry. From then on, they would be able to move around without any problems. “Today, if you have to enter a secure perimeter, whether it’s in the virtual or physical world, you need to enter your username and password and, sometimes, go through multi-factor authentication in the form of an OTP.” But, that is not how you will enter the metaverse. “We are trying to make use of unique, individual biometrics — fingerprints, face ID, or Live ID. For instance, we ask a person for a selfie if he wants to log in. It’s pretty simple and yet extremely reliable,” Gandhi added.

All this is made possible by something called BlockID. When a data breach occurs, one of the key things that a hacker is looking for is the credentials of the user. Once they have it, they can access the central database and steal data that is there, whether it’s the IP address or sensitive user information. “The beauty of BlockID is that it is based on blockchain, which means it is supported by a distributed ledger at the back end. This makes the platform very secure since there is no central database. Further, it gives users control over their identity and neither the enterprise nor the service provider can access it unless consent is provided,” he noted.

Password-based authentication is so integral to the use of the internet that it seems impossible to imagine a world without it. However, with the emergence of metaverse and blockchain technology, the time may be close when passwords are eradicated once and all, making the virtual space safer for everyone and also easier to navigate.

Get live Share Market updates and latest India News and business news on Financial Express. Download Financial Express App for latest business news.