There are times when a person feels hopeless and feels stuck in his pursuit of ambition.
As time went on I slowly realized that it was wrong and I learned valuable lessons from the experience.
For that I will answer all the questions above, because that knowledge must be shared in order to be useful
( I use Eunoia account because i lost private key of Rinto account )
Regards,
Rinto. E
*Question : X: Security
*Answer : Security Key
Security key is better than 2FA sim card as sim hjack / swap is possible.
Therefore, to get a better level of security the use of security keys is recommended.
The problem is that the price of security keys is not affordable for the general public and even though they are claimed to be portable, they are still separate and prone to loss due to forgetting to store them in a safe place.
Currently the average security key is in the form of a USB dongle, and the host it works on is relatively large, making it less portable and reducing its mobility.
Proposed Solutions :
Sim cards and SD memory cards have evolved in shape, and this evolutionary trend has reduced their size over time.
The security key also evolved. but in my opinion it would be better if the security key not only reduces its size but also changes form from usb to a kind of sim card / sd card in a smartphone with an ejectable system or with the ability to kill switch power ( I don't know which one might be sim / memory, ejectable or kill switch because I'm not a technical person)
The security key has a companion software program, to authenticate within the app or transmit authentication.
( not quite detail but i'm pretty sure i already explain the bigger picture here )
or proposed to bank worldwide as subcont provider.
Credit & Debit Card.
Proposed Solutions :
Just like a security key that can be placed in a smartphone directly, I think it is also possible for credit / debit cards.
But on condition that it is ejectable slot / with a kill power switch, so it can be turned off when not in use.
Similar to the security key, this card also has a companion application, where all the advantages of fintech can be applied directly to the default application of the card issuing bank.
And when we are out of cash we can reach near store / friends maybe to get ( regulated & limited ) cash.
(not detailed enough but I'm pretty sure I've covered the bigger picture here)
In essence, to be able to use the card requires 2 conditions, namely software and hardware (physical card itself as an additional security)
With this, bank users don't have to bother using fintech services and linking their card data every time they use the card
Proposed Solutions :
The idea is to make e-ID smaller, more portable, simplify and automating the kyc process either in person or online
Just like a security key that can be placed in a smartphone directly, I think it is also possible for e-ID.
But on condition that it is ejectable slot / with a kill power switch, so it can be turned off when not in use.
Similar to the security key, this card also has a companion application, where all the kyc ( authentication & authorization ) process can be automated on companion app.
In essence your conventional ID card becomes hardware & software in smartphone, and simplify and automate the KYC authentication & authorization process
Before this KYC procces are being done by uploading document, with companion app this can be automated submitted with consent permission.
(not detailed enough but I'm pretty sure I've covered the bigger picture here)
Hardware wallets are better solution than other.
Therefore, to get a better level of security, the use of a hardware wallet is recommended.
The problem is, hardware wallet prices are not affordable to the general public.
Just like a security key that can be placed in a smartphone directly, I think it is also possible for hardware wallet. ( may be a form of sim card or sd card ? or completely new form ? )
But on condition that it is ejectable slot / with a kill power switch, so it can be turned off when not in use.
Similar to the security key, this card also has a companion application, where all the advantages of hardware wallet can be applied.
With this hardware wallet can easily make micro payment transaction.
( not detailed enough but I'm pretty sure I've covered the bigger picture here )