Advanced Blockchain AG’s Portfolio Company, peaq, Announces the Release of peaq access control, One of the World’s First Integration-Ready Blockchain Solutions
peaq access control is peaq’s first integration-ready solution, marking the start of many new products to come for peaq.
Advanced Blockchain AG’s portfolio company, peaq, is excited to announce the launch of its first integration-ready solution: peaq access control.
peaq access control uses blockchain technology to power an easily manageable, seamless, one-stop system for permission and access management. This innovative design offers significant improvements over existing access management solutions, including vastly improving security, privacy, and transparency, while still maintaining full General Data Protection Regulation (GDPR) compliance.
peaq is currently accepting orders for access control on their website, peaq.io. peaq is offering access control in a standalone integration (for organizations looking to run the solution on-premise) as well as an API integration (for organizations looking to incorporate the product with existing access management tools).
To understand how access control is a revolutionary access management solution, continue reading:
Existing access management systems are highly flawed.
These present solutions to controlling access have many design weaknesses that put their users at risk. For one thing, these systems have “back doors”, which are unauthorized access routes bypassing standard approval processes. This is a critical security risk, as it means that changes can occur without anyone’s knowledge.
Furthermore, existing solutions have system-specific conventional databases, which all come from different providers. The result is that all systems need to be managed individually, and there is no way to access multiple systems in one place. Additionally, everyone with the ability to access the conventional database could possibly compromise or corrupt it, leading to further security risks.
Conventional databases are also weakened by the fact that they have reversible and alterable histories. For example, data, actions, access grant records, or even entire system histories could be changed or deleted on these databases without a trace. This has the potential to cause catastrophic issues.
Finally, existing access management systems are vulnerable to privacy leakage and data hacks. Since these products store personal information in either a single or clustered database, when access is gained by an unauthorized party, there are usually serious privacy and data breach issues.
Access control offers a better solution, thanks to its blockchain basis and innovative design.
In order to resolve the aforementioned issues plaguing existing access management solutions, peaq has designed access control. peaq access control’s blockchain basis mitigates all of these security risks, while also offering improvements in efficiency and ease of use. peaq access control operates via the interaction between the following parties and components:
The Root of the product is the decentralized governance structure. The Root is governed by the stakeholders (Access Controllers and Provider Registrars) via a voting system. Provider Registrars develop the access controller system and give permission and control to the Access Controller. Access Controllers own the access control system once they have purchased it from the Provider Registrar. Access Controllers control creating and managing end users/consumers, who will be those requiring access to “providers”, or whatever needs to be accessed. Users can be grouped by role and can be assigned access rights based on these group memberships.
The result is many advantages over existing access management solutions. For one, blockchain enables easy and transparent monitoring of access in an immutable and fully transparent ledger. This technological backbone also enables integration with multiple access systems from different developers via our single access control system. By streamlining the process of access management in this manner, man hours and therefore costs are reduced. Furthermore, blockchain ensures permanent records and histories that are protected against fraud, tampering, and deletions. Finally, transactions along the blockchain are privacy-protected and secure, mitigating the risks of personal or company information leaks/hacks.
Access control is just the first of many upcoming solutions to be launched by peaq.
This product marks the first of multiple upcoming products from peaq. This company was founded on the idea that blockchain can offer improvements to innumerable conventional software products and systems. Thus, peaq is in the process of expanding its offering of customized blockchain-based solutions across a variety of industries.
For more information about peaq and how to get involved with access control, check out our website at peaq.io. For more information about Advanced Blockchain AG, visit advancedblockchain.com.