The first three Participants/Teams that will come out victorious in the Blockchain Secure Authentication (BSA) challenge being organized by the International Telecommunications Union (ITU) will win $5,000; $3,000 and $2,000 respectively at the end of the programme.
The ITU BSA Application Challenge is an exciting opportunity for innovators and developers to revolutionize user authentication in digital financial services (DFS).
This challenge focuses on promoting Blockchain Secure Authentication (BSA) to overcome the vulnerabilities of traditional “shared secrets” like passwords and one-time passwords, which are susceptible to phishing and theft. ITU organizes the BSA application challenge as part of the activities of the DFS security lab and with the kind support of FNSV Korea.
Participants in this challenge will have the unique opportunity to develop and implement cutting-edge BSA solutions, which enhance user privacy and security and streamline the user experience by eliminating the need for remembering and inputting passwords at each login. The initiative seeks to elevate authentication standards in DFS by leveraging blockchain technology’s robust and secure framework.
Open to individuals from ITU Member States, Sector Members, Associates, Academic Institutions, the challenge is a platform for participants to acquire practical skills in deploying BSA technologies. Through this challenge, developers can showcase their innovative solutions, contributing to a safer and more efficient digital financial ecosystem. Join us in shaping the future of secure authentication in the realm of DFS.
The primary objective is to ensure highly secure and seamless passwordless authentication using BSA for DFS users accessing the platform via web and mobile applications. The platform should enable easy access to customer profiles and banking services. Bank A is committed to a secure and user-friendly digital onboarding process, and authentication allowing customers to access their accounts anytime, anywhere.
