Multi-factor authentication for users of non-internet based applications of blockchain-based platforms
This addresses security for millions of users of non-internet applications in blockchain platforms, but it is incremental as it adapts existing authentication concepts to a specific domain.
The paper tackles the problem of securing non-internet based applications like SMS and USSD against rising attacks by proposing a multi-factor authentication method that uses blockchain transaction evidence and risk analysis, resulting in a system that flags high-risk transactions and generates authentication layers based on past transactions.
Attacks targeting several millions of non-internet based application users are on the rise. These applications such as SMS and USSD typically do not benefit from existing multi-factor authentication methods due to the nature of their interaction interfaces and mode of operations. To address this problem, we propose an approach that augments blockchain with multi-factor authentication based on evidence from blockchain transactions combined with risk analysis. A profile of how a user performs transactions is built overtime and is used to analyse the risk level of each new transaction. If a transaction is flagged as high risk, we generate n-factor layers of authentication using past endorsed blockchain transactions. A demonstration of how we used the proposed approach to authenticate critical financial transactions in a blockchain-based asset financing platform is also discussed.