Business person logging in to his laptop
Digital Media & Information & Communications Technology Heading

Cybersecurity isn’t just for big businesses. This company is helping you keep your personal information data secure with just the phone in your hand.

Bloksec is revolutionizing the way we manage personal data by letting people use their smart devices to control access to their accounts. Unlike a password that can be stolen or hacked, a smartphone is something that can’t be replicated. It’s typically in the user’s possession and when it’s not in hand, it has to be unlocked by fingerprint or eye scan. Simply put, using your smartphone to access information is a much stronger way of proving that you are who you say you are — and, it’s all done through airtight, blockchain technology.

“If you’ve ever heard the term chain of custody, which shows that something hasn’t been tampered with along the way, we’re doing that in the digital sense,” explains Mike Gillan, who co-founded Bloksec with business partner Ketan Kapadia. “We’re keeping a digital record and storing it in a blockchain. You can prove through looking at the hashes of the records on the chain that it hasn’t been tampered with.”

Bloksec is making the move from authentication to consent. Picture this: If you wanted to transfer money to a friend or even a business, Bloksec would send an alert to your phone that requests permission for the transaction to happen. The same thing happens when an automated bill is paid or a purchase is made on your credit card. This allows you to make an informed decision about any money leaving your accounts. On any given day, it’s just an additional safety measure — but when you get an alert about a transaction you didn’t make, it’s a useful tool that stops theft before it happens. While Bloksec is designed to protect individuals from fraud, it’s ideal for businesses as well. It’s built to work with any website, from small businesses to major players in the financial industry.

Tech like this can have far reaching implications. Imagine being able to consent to a credit check with the touch of a button on your smartphone, or stop someone from using your SIN number to apply for a credit card. It’s also invaluable in the health care industry, where medical professionals could assign and approve patient treatments on the go while protecting patients from data breaches.

Bloksec is revolutionizing the way we manage personal data by letting people use their smart devices to control access to their accounts.

Though Bloksec was founded in early 2019, Gillan and Kapadia have worked in cybersecurity for more than 20 years and bring a wealth of expertise to their startup. In addition to their work at Bloksec, the duo are also working with the Decentralized Identity Foundation to help individuals protect their personal data.

“When you give your identity to a company, they’ve got all of your information,” Gillan says. “You don’t know how they’re using it and you’ve given up control at that point. What we’re doing with Bloksec is putting people back in control.”

Recommended Posts