FIX Network, an innovative technology company from Vilnius, Lithuania, has developed a new two-factor authentication (2FA) SIM card and app for protecting mobile data and digital identities.
The ultimate goal of the company is to provide comprehensive blockchain-based solutions for mobile devices, enabling subscribers to secure their digital assets and identities by safekeeping private keys on their SIM cards. However, due to the urgent and immediate requirement of securing phone numbers – which may be considered to be the most valuable digital identities – FIX Network will provide a free-to-use 2FA application, together with newly issued and truly subscriber-owned phone numbers that will serve as secure and global digital identities. These numbers will be fully controlled by the subscriber, preventing unauthorized porting or malicious hijacking of the phone number. This 2FA solution will also include the practical ability to recover access to digital identities through user-defined policies that include the subscriber’s trusted social circle and/or FIX Network-enabled, non-swappable SIM cards.
According to Sydney Ifergan, crypto expert and founder of ‘The Currency Analytics’ (TCA), “FIX Network is designed with the idea to make the existent cellular infrastructure more secured through its new blockchain-powered security protocol. This new infrastructure is engineered to help mobile operators leverage the security of customers identities and digital assets like cryptocurrency.”
The SIM card from FIX Network allows the user’s identity to be verified solely by the owner of that SIM. Moreover, the solution acts as a 2FA for B2C and B2B, like a Yubico key or a Titan security key, guaranteeing secure authentication and access for online services. It is believed that this technological initiative will help raise the inadequate level of cybersecurity offered today and will provide effective security for digital data.
FIX Network will release their product components in an open-source format, encouraging mobile operators and providers of secure authentication services to take advantage of this innovative technology, and offer their subscribers the necessary level of online protection for the safe and practical use of their digital identities.