Users hate passwords and enterprises know they can’t be trusted any more. Passwords are a pain to use and easy to hack or simply purchase on the dark web. What is needed is a new authentication solution that is easy to use, much more secure and works across both mobile apps and web sites. Trusted Key’s authentication system meets all these requirements and more.
Know Your Customer
Banks, healthcare providers, transportation, and shared economy service providers now live in a world in which they must enroll new customers AND verify their identity without ever meeting them face-to-face. Trusted Key provides a frictionless, secure, re-usable, and privacy-preserving way for users to bring online their real-world government-issued identity documents (such as driver’s license or passport) and easily and securely use them to verify their identity to any app or service provider.
Current document signing services, while convenient and easy to use, can only prove that a document was signed, not who actually signed it. This makes current digital signature solutions unsuitable for certain transactions for which reliable authentication is required. Trusted Key improves the effectiveness of digital signature solutions by providing users with a strong cryptographic identity which they can use to digitally sign documents and embed that identity into the document itself.
The Trusted Key solution turns a user’s mobile phone into the singular device with which they can securely establish their identity and authenticate themselves to any any app or service. Trusted Key leverages the Trusted Execution Environment, biometric (e.g. fingerprint) authentication, and hi-res photo capabilities on modern mobile phones to enable the most robust security, yet with a radically simple user interface.
Trusted Key uses strong cryptography to securely identify and authenticate users. Utilizing PKI, secure Trusted Key Credentials and Tokens, and cryptographic challenge-response based authentication, the Trusted Key system eliminates passwords entirely, and as a result eliminates entire categories of attacks that hackers currently use to breach even the most secure systems.
Trusted Key uses blockchain technology to eliminate the the need for a central repository of authentication credentials. In the Trusted Key system, user Credentials and Identity Tokens are registered on a blockchain so they can be independently verified and managed without users or service providers having to depend on a single centralized entity to maintain them.
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The widespread (and still rapidly growing) use of e-commerce by consumers has certainly been a benefit to retailers nimble enough to take advantage of it. Fortune magazine reported last year that more than half of consumer purchases now occur online. However, it’s also been a huge boon to the global criminal syndicates nimble enough to take advantage of the weaknesses in the transaction processing systems responsible for executing all of those transactions. No matter how you interpret the numbers below, they paint a stark picture of the state of e-commerce transaction integrity and raise serious issues for both retailers, [...]