Posted On: 03/24/2014 11:57:19 AM
Post# of 89322
NXTD in magazine article MobileSecurityZone.com today!
NXT-ID Files for 'Un-Password' Dynamic Pairing Patent
http://www.mobilesecurityzone.com/topics/mobi...patent.htm
By: Rory Lidstone
Mobile Security Contributing Writer
Many consider biometrics to be the secret to achieving better, easier security but, like any authentication method, biometrics isn’t perfect. Fortunately, biometric authentication company NXT-ID is working on improving on biometric authentication, starting with the submission of a patent application for dynamic pairing.
Following up on U.S. provisional patent application No. 61/802,681, NXT-ID has filed patent application 14/049175 for “The ‘Un-Password’: risk aware end-to-end multi-factor authentication via dynamic pairing.
Put simply, the patent represents advancements in biometric and cryptographic authentication, as well as another technology crucial to NXT-ID’s upcoming payment and identity product ‘the Wocket.’ Wocket is a new biometrically secure smart wallet that aims to replace the traditional wallet, along with the number of credit cards consumers carry.
As for NXT-ID’s dynamic pairing technology, it brings a high level of trust to transactions without sharing private information that could be used for a cyber attack. This allows private data to be kept private and under control of the owner of the data, drastically reducing the likelihood of identity theft while still enabling other systems to trust the authenticity of the user, device or application.
"We wanted to develop a method where devices could establish trust with one another, but without exposing any private information that could be used in an attack or identity theft," said David Tunnell, CTO of NXT-ID, in a statement. "Instead of passing private, identifiable information about an individual over the internet, we send dynamic pairing codes that contain hidden risk assessments. Each new risk assessment measures how sure 'you are who you say you are' based on multi-factor authentication such as biometrics."
Tunnell went on to add that each risk assessment being dynamic and hidden within the dynamic pairing code makes cyber attacks much more difficult and easy to detect. Wocket will be the first application of dynamic pairing.
NXT-ID Files for 'Un-Password' Dynamic Pairing Patent
http://www.mobilesecurityzone.com/topics/mobi...patent.htm
By: Rory Lidstone
Mobile Security Contributing Writer
Many consider biometrics to be the secret to achieving better, easier security but, like any authentication method, biometrics isn’t perfect. Fortunately, biometric authentication company NXT-ID is working on improving on biometric authentication, starting with the submission of a patent application for dynamic pairing.
Following up on U.S. provisional patent application No. 61/802,681, NXT-ID has filed patent application 14/049175 for “The ‘Un-Password’: risk aware end-to-end multi-factor authentication via dynamic pairing.
Put simply, the patent represents advancements in biometric and cryptographic authentication, as well as another technology crucial to NXT-ID’s upcoming payment and identity product ‘the Wocket.’ Wocket is a new biometrically secure smart wallet that aims to replace the traditional wallet, along with the number of credit cards consumers carry.
As for NXT-ID’s dynamic pairing technology, it brings a high level of trust to transactions without sharing private information that could be used for a cyber attack. This allows private data to be kept private and under control of the owner of the data, drastically reducing the likelihood of identity theft while still enabling other systems to trust the authenticity of the user, device or application.
"We wanted to develop a method where devices could establish trust with one another, but without exposing any private information that could be used in an attack or identity theft," said David Tunnell, CTO of NXT-ID, in a statement. "Instead of passing private, identifiable information about an individual over the internet, we send dynamic pairing codes that contain hidden risk assessments. Each new risk assessment measures how sure 'you are who you say you are' based on multi-factor authentication such as biometrics."
Tunnell went on to add that each risk assessment being dynamic and hidden within the dynamic pairing code makes cyber attacks much more difficult and easy to detect. Wocket will be the first application of dynamic pairing.
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