Sep 9, 2013 By Geoff
At LaunchKey, "killing passwords" has always been one of our primary objectives in evolving user authentication. Passwords are not only an epic hassle to use, they're inherently weak as a factor of authentication. They're also prone to misuse by not just the end user (e.g. overly simple passwords, reusing passwords, sharing passwords, etc.), but also the developer (weak or absent hashing, incorrect storage, database injection vulnerabilities, etc.). While password-related breaches become daily news stories, we've made it our mission to empower users to securely and privately authenticate.
One of our primary distinguishing features is authentication with LaunchKey is anonymous. That's right, unlike identity management services, no personally identifying information is collected or used. Authenticating an individual without knowing anything personal about them may seem a bit counterintuitive, but if you've ever used a key to unlock a door, you've authenticated anonymously (assuming you don't inscribe your name and address on your keys). Keys, and other physical objects we retain possession of make great factors of authentication -- after all, this is why you still use keys today -- but by utilizing smartphones and tablets, LaunchKey adds a suite of multi-factor security options featuring all three factors of authentication: inherence (geofencing), knowledge (combo lock, PIN lock), and possession (Bluetooth device factor).
In the corporate world security breaches and cyber attacks cost companies upwards of hundreds of millions of dollars and jeopardize the personal and confidential information of people like you and me. Our authentication platform can better protect company files, applications, websites and network infrastructure, meaning LaunchKey can potentially save a business big money while ensuring customer data is secure and stays private.
Our technology is already getting kudos from the technology and VC world; and it's pretty exciting.
"LaunchKey's technology will shift the way personal and corporate data are protected and secured and how proprietary information is accessed," said Zach Ware, CEO of Project 100 and partner at VegasTechFund. "As logins and passwords quickly become obsolete, tools like LaunchKey will become the secure de facto solution for user authentication."