White paper: Crypto-of-things for securing identity
Authentication is a mainstay of our device-driven world. Since the 1960s, computer scientists have been on a quest to verify the identity of the user behind each operation or transaction – and on a mission to keep the identities of those involved safe from malicious actors and known only to verifiers.
Passwords were an initial solution but have multiple vulnerabilities. As the smartphone and Internet-of-Things (IoT) era developed, the technology world has begun to ditch passwords – but at a cost.
The concept of “going passwordless” is not new and has been a concept explored by the technology sector since at least 2004. Most of these solutions are based on multi-factor authentication (MFA).
In general, an authentication “factor” is defined as something that you know (password), something you are (a physical trait such as fingerprint or face), or something you have (an additional device). No one factor itself is strong enough; passwords can be weak, devices can be stolen or breached, and biometrics can be bypassed. Ergo, MFA was introduced to fill the gaps.
Several types of MFA, including one-time-password (OTP) issuance, rely on insecure passwords to verify one or more authentication factors. Despite the importance of the move toward passwordless authentication, adoption continues to be slow since software-only platforms are not secure enough and hardware presents several user experience and operations issues.
All pre-existing solutions for MFA on the market in 2020 face significant security vulnerabilities – including, most commonly, social engineering attacks based on theft and impersonation. User experience (UX) varies wildly between platforms and can severely impact a business’s appeal on the one hand and cost of operations on the other.
There remains a solution for enterprises searching to serve their clients on-the-go – without making any compromises between security and usability. Join Professor Yehuda Lindell – world-renowned cryptographer and co-founder of cryptographic key security company Unbound Tech – to explore the latest in key security innovation and the possibilities for enterprises looking to go passwordless hassle-free. With the help of Unbound’s cryptographic key experts, the magic of multi-party computation (MPC), and a platform with today’s ever-moving professionals in mind, your business can ditch the passwords – at high security and low TCO.
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