Business
WiMi Announced a Blockchain-based Framework for Secure Data Sharing in Smart Cities
BEIJING, July 29, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WIMI) ("WiMi" or the "Company"), a leading global Hologram Augmented Reality ("AR")
About this update from Wimi Hologram Cloud Inc.
[{"type":"text","content":"BEIJING, July 29, 2024 /PRNewswire/ -- WiMi Hologram Cloud Inc. (NASDAQ: WIMI) (\"WiMi\" or the \"Company\"), a leading global Hologram Augmented Reality (\"AR\") Technology provider, today announced a blockchain-based privacy security protection framework will provide an innovative solution for secure data sharing and collaboration in smart cities, which not only integrates the advantages of decentralization, transparency, and immutability of blockchain technology, but also deeply integrates a variety of advanced encryption and authentication technologies, aiming to establish a sharing ecosystem for IoT data in smart cities that is both secure and efficient, and to ensure IoT data security and integrity.\n\nIn the blockchain-based privacy and security protection framework, a decentralized network is first created through a secure initialization process where all participating IoT devices and users are subject to strict authentication and registration. This process uses public key infrastructure (PKI) to issue digital certificates to ensure the authenticity and legitimacy of each participant, laying a foundation of trust for subsequent data exchanges.\nIn terms of data protection, the blockchain-based privacy and security protection framework employs a multi-layered encryption strategy. Data is encrypted when it is generated, and symmetric encryption algorithms such as AES are used to ensure data confidentiality in transit and at rest. Meanwhile, asymmetric encryption techniques (e.g., RSA) are used for key exchange to further enhance data security. In addition, data hash processing ensures data integrity and any unauthorized modifications to the data can be quickly detected.\nIn addition, to ensure that only authorized users can access the data, the blockchain-based privacy and security protection framework implements strict access control mechanisms. This includes role-based access control as well as fine-grained attribute-based access control, which allows the system to dynamically adjust access rights based on users' roles, attributes, and contextual conditions. In addition, the introduction of one-time passwords strengthens the security of the login and transaction processes, effectively preventing replay attacks and unauthorized access attempts.\nWiMi's blockchain-based privacy security protection framework provides a comp...