Welcome!

News Feed Item

2013 Marked by Online Security Risks

Online Security Experts Outline What to Expect in 2014 and Beyond

LAS VEGAS, NV--(Marketwired - February 06, 2014) - 2013 was a year marked by some of the largest security breaches and data compromises in history, signaling a drastic need to dramatically shift how companies protect data, according to leading online security experts at LaunchKey. Initial reports noted that between two major online security breaches in late 2013, an estimated 80 million people were directly impacted. However, more recent reports have acknowledged that this number may be conservative, with as many as 150 million username and hashed password pairs potentially compromised in one incident alone.

"This is yet another reminder that our current model for authenticating and securing private information does not work," said LaunchKey Co-Founder and CEO Geoff Sanders. "Current authentication methods no longer provide the security and anonymity required to protect business and personal information. It is a progressive deterioration of an archaic system."

LaunchKey is among those in the online security industry leading the charge to provide a more secure and private authentication model without passwords for enterprise companies, online users and consumers. The team is evolving user online authentication and working to eliminate passwords through anonymous multi-factor authentication methods.

"The more passwords that are created, coupled with the increasing break-ins, make it even easier to uncover user information," said Sanders. "To break this cycle, we need to kill passwords. Companies need to get it, or plan for financial disaster."

Sanders projects a handful of things to expect in 2014:

• The need for secure authentication will continually rise, while the multi-factor solutions that address those cyber security needs will become increasingly technically complex and difficult for the organizations and developers that must implement them. This opens up the opportunity for secure authentication as a service.

• The virtual world and physical world will intersect through the Internet of Things (IoT) and machine-to-machine (M2M) communication. This connection to the physical world will create significant security challenges as we connect the physical objects people depend on, such as vehicles, homes and medical devices, to the wild west of the virtual world. As such, secure authentication at these critical nodes and connections will be of the upmost and ever-increasing importance. Systems must be able to provide secure authentication to the Internet of Things, and systems that authenticate to both the Internet of Things and the virtual world will have increasing value and significance.

 Biometry will have decreasing value over time as organizations and end users become aware of the privacy risks inherent in storing such uniquely personal data that can't be unassociated with a person. While biometry is useful as an inherence factor of authentication in a multi-factor environment, more responsible inherence factors like geolocation will gain broader acceptance.

• The concept of social vouching will take flight within user authentication as the value of crowdsourcing identity becomes possible through both voluntary and passive mechanisms by utilizing mobile devices, machine-to-machine communication, and data analysis.

Moving Forward into a Passwordless World

Behind the scenes, companies are grappling with how they can protect trade secrets, corporate data and consumer information from predatory IT sleuths -- many of whom are direct competitors or identity thieves. Enterprise companies are coming around, looking for new solutions to the age-old problem of protecting user privacy, anonymity and identity as they conduct business online.

"The current model for authentication allows hackers and IT pirates the opportunity to access a company's networked systems, websites, email and applications. It's so much easier than you think," said Cheryl Wilner, founder of Bethesda Advanced Solutions and security pioneer. "And as we become more connected through the Internet of Things as individuals, we become increasingly exposed."

LaunchKey is working to build platforms that offer secure and anonymous multi-factor authentication by eliminating passwords and pushing anonymous authentication to mobile devices. The company's multi-factor authentication model involves three factors: possession (device factor), inherence (geofencing) and knowledge (combo and pin lock). This new generation of secure and anonymous multi-factor authentication offers organizations, developers and individuals enhanced security, which leads to decreased corporate financial liability and personal exposure.

In September 2013, LaunchKey achieved VerAfied status; an achievement indicating the company meets or exceeds industry standards for security, reliability and compliance.

"Compliance with the highest security standards in the industry is mission critical as we move to this new authentication model," said Sanders. "It may be a long road to shift the business and individual mindset, but we are at the forefront as companies realize and address the risk that was so evident this past year."

The LaunchKey application is available for free in Google Play and the Apple App Store. For more information, visit launchkey.com.

About LaunchKey
LaunchKey is evolving user authentication and eliminating passwords with anonymous multi-factor authentication through smartphones and tablets. LaunchKey's free app enables users on websites, applications and other networked systems to securely and privately authenticate without passwords. For developers, LaunchKey provides a trustworthy alternative to password-based user authentication while reducing the liability passwords create. The founders were named to Inc. Magazine's prestigious "30 Under 30" list of entrepreneurs for 2013. For more information, visit launchkey.com.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
On Dice.com, the number of job postings asking for skill in Amazon Web Services increased 76 percent between June 2015 and June 2016. Salesforce.com saw its own skill mentions increase 37 percent, while DevOps and Cloud rose 35 percent and 28 percent, respectively. Even as they expand their presence in the cloud, companies are also looking for tech professionals who can manage projects, crunch data, and figure out how to make systems run more autonomously. Mentions of ‘data science’ as a skill ...
Cloud analytics is dramatically altering business intelligence. Some businesses will capitalize on these promising new technologies and gain key insights that’ll help them gain competitive advantage. And others won’t. Whether you’re a business leader, an IT manager, or an analyst, we want to help you and the people you need to influence with a free copy of “Cloud Analytics for Dummies,” the essential guide to this explosive new space for business intelligence.
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet a...
UpGuard has become a member of the Center for Internet Security (CIS), and will continue to help businesses expand visibility into their cyber risk by providing hardening benchmarks to all customers. By incorporating these benchmarks, UpGuard's CSTAR solution builds on its lead in providing the most complete assessment of both internal and external cyber risk. CIS benchmarks are a widely accepted set of hardening guidelines that have been publicly available for years. Numerous solutions exist t...
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
In his session at Cloud Expo, Robert Cohen, an economist and senior fellow at the Economic Strategy Institute, will provide economic scenarios that describe how the rapid adoption of software-defined everything including cloud services, SDDC and open networking will change GDP, industry growth, productivity and jobs. This session will also include a drill down for several industries such as finance, social media, cloud service providers and pharmaceuticals.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
IoT is rapidly changing the way enterprises are using data to improve business decision-making. In order to derive business value, organizations must unlock insights from the data gathered and then act on these. In their session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, and Peter Shashkin, Head of Development Department at EastBanc Technologies, discussed how one organization leveraged IoT, cloud technology and data analysis to improve customer experiences and effi...