By Rahmatullah Mahmud
The International Telecommunication Union (ITU) has unveiled an innovative opportunity for developers and innovators to reshape user authentication within digital financial services (DFS). Termed the “ITU BSA Application Challenge,” this initiative aims to address the vulnerabilities associated with traditional authentication methods like passwords and one-time passwords, often susceptible to phishing and theft.
Organized as part of the DFS Security Lab activities, and supported by FNSV Korea, the challenge spotlights Blockchain Secure Authentication (BSA). Participants are invited to develop cutting-edge BSA solutions, elevating security and user experience by eliminating the need for passwords.
Open to individuals from ITU Member States, Sector Members, Associates, and Academic Institutions, the challenge offers a platform to hone practical skills in deploying BSA technologies. Through this endeavor, developers can showcase innovative solutions, contributing to a safer and more efficient digital financial ecosystem.
Registration is open until April 30, 2024, with boot camps scheduled in May and the competition running from May 13 to August 1, 2024. Evaluation and award announcements will follow, with prizes totaling USD 10,000.
First prize: USD5,000
Second prize: USD3,000
Third prize: USD2,000
For more information, visit the ITU website https://www.itu.int/en/ITU-T/dfs/seclab/Pages/challenge.aspx
or contact dfsappchallenge@itu.int.
Stay tuned as developers gear up to revolutionize DFS authentication with Blockchain Secure Authentication.
Categories: Technology