7 Ways to Protect your Digital Assets in 2023
The digital age, which emerged in the 1970s, and its innovations and inventions have shaped the internet, bringing changes in every area of our lives, including the economics, health, education, and investments. It is crucial to understand that if digital assets are not properly managed or secured, they could be lost, stolen, or even pose a threat to us.
A "digital asset" is any asset that is created and stored digitally, including as images, videos, documents, personal and social media accounts, websites, workflows and intellectual property of organizations, business processes, bitcoin, NFTs, and more. A digital asset is also anything that may be used for online payments transactions online such as bank apps, e-wallets being entirely owned by the asset buyer and valued, they are intangible and stored on a separate account.
How can we protect our digital assets
1) Use the AAA configuration:
Authentication, Authorisation and Accounting also known as AAA Configuration is a security strategy to configure access and monitor the activities of users. Authentication provides identification of each users before access to digital assets, it requires the username and password of the user before access is granted to the user. Authorisation provides permission of users after authentication is achieved. It provides each user with rules guiding their access, not all users are allowed access to read, write or modify all resources. Accounting provides measurement. It measures the amount of time a user spends during access, the amount of data sent and received. Implementing this approach into your system secured your network and digital assets.
2) Implement risk identification, analysis and mitigation:
Knowing and effectively mitigating all hazards will depend on your ability to recognize the dangers associated with each digital asset you have or plan to acquire.
3) Create strong password and 2F authentication:
No password can be unbreakable, however it might be challenging to hack into a strong password. Consider the following factors while generating a password;
· Use a combination of letters (capital and small), numbers, and symbols. Make it at least 8 characters long.
· Avoid using your name, date of birth, or any other details that could be used to identify you.
· Frequently change your passwords—at least once every three months.
· On all of your digital assets, implement three-factor authentication. Passwords/pins, fingerprints, Google Authentication, biometrics, etc. are all examples of three-factor authentication.
· Avoid storing your passwords online.
· You can use the password to keep track of your passwords. Additionally, keep your passwords private.
4) Update your software:
Hackers identifies and exploits vulnerabilities in the security of a system. It is however important that you keep your system up to date including your applications, software where your digital assets are stored. Backup all your digital assets
5) Encrypt your digital assets:
Encryption is the conversion of digital assets to unreadable codes. It is important to encrypt sensitive Digital assets like credential information, financial information, Personal health information should be encrypted to prevent unauthorized access. To encrypt data,
· Right click on your folder and select properties
· Select Advanced option and select the Encrypt contents to secure data check box.
· Select OK to close the Advanced Attributes window, select Apply, and then select OK.
6) Digital inventory and audit
Keep track of everything you own and own, as well as your activities. Periodic internal and external auditing is a means to keep tabs on every activity involving and surrounding digital assets and also ensuring their security.
7) Educate Yourself and Employers:
Because digital assets are vulnerable to and human error, it’s critical to stay informed about the dangers associated with each one and compile data on any updates. To prevent a cyber attack, this precaution should be implemented.
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