Then - and only then - will the ring be activated. When you put Token on your finger, it scans your fingerprint. Token solves this with two pieces of technology: a proximity sensor and a fingerprint sensor. And this whole sign-on process will be super quick - it just takes a double knock on your laptop.Ĭurrently, if someone steals your credit card or gets access to your passwords, they can do a lot of damage, particularly since most of us use the same few passwords across multiple sites. However, that unique key is never known to the website. Your Token signs that challenge with a unique key, and then the website knows that the challenge has been signed using your key. The website asks you to verify your identity by sending you what’s called a “challenge”. Here’s how a typical log-in works: when you sign on to a website, think of the interaction as a blind handshake. With Token, you are able to log in and pay wherever you choose even as your passwords and credit card numbers never leave the ring itself they’re always stored in a secure element (the same technology that’s used in credit card chips).
Token, on the other hand, never shares your private information, or uses information in a form that could be shared. Take, for example, the scandal where millions of credit card numbers were copied with malware at Chipotle restaurants, or think of skimming operations that gather pin numbers and credit card information from ATM machines. There is one other big security risk we all face: every time you share your credit card number, swipe that card through a terminal, or type in your password, there is a chance it can be stolen in the transaction. The very existence of these treasure-troves - be it with Yahoo, Target or Arby’s - has led to great danger because one breach can lead to the takedown of the entire network and the theft of millions of passwords or social security numbers. They live in one central place - on the server of a merchant or website, so they’re located in an information-rich treasure-trove that is filled with valuable data ( your data), making it a one-stop shop for hackers.
These “secrets,” as you know, are anything but secret. In today’s world, we share our passwords and credit card numbers with a long list of websites, merchants and devices. Now, it’s time to understand - in simple terms! - just how Token works to make these three innovations a reality. Using your credentials to prove your identity takes only seconds.Your credentials can only be used by you (they’re unique to you, and can only be used by you).You will no longer be sharing your credentials with anyone (they stay with you, and can be verified without having to be shared).Just how does this one ring, which lets you log on to your computer and online accounts, make payments, and even replace your car keys, enhance your digital security? It’s the combination of these three big breakthroughs that have come together for the first time: We believe it’s time all of us are given a reasonable solution to protect our identity and the tools we use to prove that identity - including passwords and credit card numbers.
It’s an enormous problem that got worse in 2016, and if it somehow hasn’t affected you, there’s unfortunately a good chance that it will - if we don’t all start to do something about it. These events, and the many other hacks of our personal data, paint a picture of one overarching state of affairs: our identities are not as safe as they should be. In the past few years, Target got hacked, exposing 40 million credit card accounts, Yahoo was hit, leading to 1 billion accounts being compromised, and Sony Pictures was struck, exposing emails and information that embarrassed executives and caused tens of millions of dollars in damage.
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