Privakey wins patent for password-free authentication, eliminating need for site-specific logins
Authentication and authorization service provider Privakey this week was granted a patent for inventing a new way to handle identities online, which could pave the way for a universal authentication system eliminating the need to remember usernames and passwords for specific sites.
Entitled “Computer-Implemented Systems and Methods of Device Based, Internet-Centric Authentication,” U.S. Patent No. 9,813,400 was awarded to Privakey by the U.S. Patent and Trademark Office. It describes a system for authorizing user access across a variety of internet services through a single, convenient identity verification provider.
Privakey, which is also an OWI partner and exhibited at the 2018 KNOW Identity Conference, now owns the intellectual property for the digital identity system, which could establish a universal, password-free authentication service. The company said that professional identity service providers who use Privakey technology will improve not only their own security and privacy, but also the experience of end users.
“The patent covers much of the foundational technology needed for large scale, password-free, digital identity services,” Privakey Chief Executive and cofounder Charles Durkin said. “Our technology enables a password-free future, where consumers will no longer suffer the hassles and insecurities of using passwords for their multitude of connected services.”
Markets that Privakey sees potentially leveraging its technology with multifactor authentication include financial services, healthcare, e-commerce, and government.
“Today’s marketplace is filled with a confusing mix of attempts to improve consumer authentication,” Privakey Vice President of Product Brian Ross said. “Unfortunately, these attempts often hinder the customer experience by placing more hassle and burden on the user. Privakey’s technology improves the customer experience while eliminating the vulnerabilities inherent with shared secrets. Just imagine if you never needed to remember another password in your daily life? Privakey makes that possible.”