What is Blockchain Technology?

What is blockchain? To put it quite simply, a blockchain is a ledger that is distributed. Since the rise of Bitcoin in 2008, blockchain technology has evolved and made a name for itself across global supply chains, healthcare, financial services and many other industries. It is no surprise that innovators and industry leaders are looking for ways to integrate blockchain into their businesses as the benefits are significant. It not only provides better security and transparency but also increases efficiency and traceability. Security Security is one of the main benefits of blockchain technology. Due to its decentralised nature, blockchain brings the opportunity to change how critical information is shared and stored. Information stored on-chain is encrypted end-to-end and can’t be altered, preventing unauthorised activity and fraud. Transparency Blockchain’s greatest asset is its transparency. As previously mentioned, blockchain is a distributed ledger, which means all participants see identical information. The shared version can only be updated through consensus and is monitored with a time and date stamp, providing complete,…

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The importance of multi-factor authentication (MFA)

Security. Passwords. Protection. Every business and individual has these measures in place to protect their data, but whether they are secure enough is another question. Most users assume their passwords will keep their information safe, but even the strongest of passwords can be vulnerable. In fact, data breaches, malware, device theft, and many other methods can be used to compromise digital passwords – this is where multi-factor authentication (MFA), or two-factor authentication (2FA) comes into play. The technology adds an extra layer of security that a password-only login cannot. As we have established, the traditional password is becoming more at risk and so additional information as another layer of security is crucial. According to the NCSC’s UK Cyber Survey, only 15% of people say they know a great deal about protecting themselves online, which is a significantly low figure. Here is a rundown of the 3 different types of factors to increase security using 2FA: 1. Something you know The first factor is called knowledge-based authentication (KBA), and…

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BOMI Group joins Veratrak led IWP

BOMI Group collaborates with Veratrak to streamline operations and provide clients with easier integration. Veratrak has announced its collaboration with BOMI Group as they join the Veratrak-led Integrated Warehouse Project. The company has joined the Integrated Warehouse Project to leverage the industry-wide collaboration platform and move away from peer-to-peer (P2P) messaging between pharmaceutical companies and logistics partners. BOMI Group will benefit from Veratrak by connecting to the Integrated Warehouse Hub to reach sustainability goals, optimize supply chain operations and facilitate better data transfer between it and its HLS partners. The Integrated Warehouse is a cloud-based hub, backed by blockchain technology and is the first ever HLS-LSP decentralized data exchange platform.  Blockchain technology will be used at participating organizations to verify data coming into the Integrated Warehouse message hub, thereby creating a single and irrefutable source of truth for all messages that are shared between Healthcare & Life Sciences (HLS) companies and Logistics Service Providers (LSPs). CEO of Veratrak, Jason Lacombe comments: “We are thrilled to welcome BOMI Group…

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