Innovation Corner: The Key To Identity Protection

May 1, 2007 12:00 PM

           

With more than 10 million Americans becoming victim to identity theft each year, data security providers are now focusing on developing products to combat the problem. EncryptaKey, Cypress, Calif., may have the answer.

EncryptaKey offers a portable USB device that enables users to create a fully secure data-exchange environment from any computer in any location, whether it is in the office, the home or a hotel room. The solution is comprised of a user device, server software and software agents, all supported by security and application layers designed to create a secure communication platform that facilitates secure data transfers and transactions.

Several components forming a user authentication function make up the security layer. These include a biometric reader; a symbol selection control in which the user selects one of several symbols used to identify the true owner of the device; a boot loader, which transforms any computer into a secure Internet access terminal; and an encrypted storage capability. The application layer of the solution allows access to Web browsing using EncryptaKey's Web Browser, which is based on the Mozilla browser. The device allows data to be written to encrypted file storage, which is only accessible once the two factors of authentication — a biometric and a symbol — have been verifed.

The EncryptaKey device also serves as a “digital wallet.” It is equipped with Bluetooth and passive RFID technology to enable use of a range of in-person retail and banking transactions, as well as to act as a physical door or entryway for access to online transactions.

The idea of EncryptaKey originated in 2005, when Kelly Owen, founder and CEO of EncryptaKey, began to question the online security of a few well-known retailers and financial institutions. Owen says he wondered what made the person who was processing his online and telephone purchases more trustworthy than somebody who wanted to steal his information. “The individuals who steal information only do so because personal identity is worth something to somebody. What if we lived in a world that only provided secure transactions 24/7 — then your information would not be worth anything to anybody,” Owen says. The device was launched in January. Visit encryptakey.com

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