Rivetz is an ICO project that’s aiming to tap on the need to a better security and authentication protocol. Based on estimations, cybersecurity damages could total more than $6 trillion globally, increasing from $3 trillion from 2015. Provided that the cryptocurrency economy deals with financial transactions quite a bit, users of services and companies making up the economy could make use of such a toolset.
The project in aiming to build a solution on a “Global Attestation and Identity Network”. Rivets is counting on the fact that companies all over the world are investing millions on infrastructure for trusted computing and is aiming to combine this feature with the blockchain’s technology.
The revolutionary solution that’s projected on being provides is set to allow for better portable cybersecurity through the blockchain’s immutable nature and provability, by improving on the “value and trust of data processed”. Alongside of that though, payments are also going to play a vital role in the project.
Rivet’s business model of the service is attaining to values cryptocurrency users are already akin to, such as like anonymity and near-instant, immutable provability. Through the project’s ability to take advantage of TEE enabled devices, Rivetz will be able to make use of the already billions of such devices that keep increasing in number.
Through the token, providers of any service will be enabled to set their own requirements of safety for any service they offer. Likewise, owners of cybersecurity controllers will have the ability to use services they like and manage health measurements of verifications performed. This procedure might require tokens to be facilitated, but the control for this capability is expected to become much more widely available with the ecosystem maturing.
The above extends to a market called “Cybercontrols Marketplace” in which users will be able to choose between solutions and add ons for their security standards to be enhanced. Those solutions could range from free to commercial ones.
More specifically on use applications, Rivetz has developed an application that is compatible with 2fa standards and interchangeable with Google’s authenticator app. It’s proposed by Rivetz to integrate a health and attestation test in the procedures of the 2fa application in order to make the whole one time code generation process more secure after the token sale.
Those processes could be enhanced by multisignature capabilities based on what Rivetz developers seem to proport, as multisig capabilities for more secure signing are projected to be made part of their project after a successful token release.
All in all, such a project could have a good user application for those concerned with security but also those bound to follow better than average security standards due to the circumstances. This is a project that aims to bring the levels immutability and ultimate security of the blockchain in the hands of users when it comes to two factor authentication.
In the end, when one grasps his head around the fact that almost all web services handling user transactions that respect themselves offer a two factor auth solution, there’s already a market for Rivets out there, and it seems like its developers are looking to revolutionize it.
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