Method and system for secure applications using blockchain

Abstract

Electronic network include multiple users. Each user operates Wallet software application on his/her endpoint devices (special purpose, computer or smartphone). Each Wallet integrates with Cloud-based Identification-as-a-Service(s) (IDaaS) In context of present invention—IDaaS provides real-time, multi-factor, malware-resilient, context-sensitive Strong Identification-as-a-Service of the user and enables Cryptographic Keys Management of the Wallet. Each Wallet provides various Cryptographic functionalities. Each Wallet may be connected with multiple centralized Marketplace software applications, thus allowing these Cryptographic functionalities to interact with specific Marketplace software application. Each Wallet may be connected with multiple decentralized peer-to-peer software applications, thus allowing these Cryptographic functionalities to interact with specific peer-to-peer software application. These software applications may include Information Technology, Financial, Manufacturing, Retail, Insurance, Government, Healthcare and other verticals of Global Economy. The present invention prevents 'Bad Actors' from using or attacking these applications. The present invention also enables Identification of participants of transactions recorded on Blockchain.