The Problem & The Incomplete Solutions Available In The Market
In a world where everything from bank accounts to social media is at our fingertips, identity authentication is the most important tool for security and privacy. At the same time, Billions of users throughout the world authenticate themselves a few times a day with the old, traditional username and password method. Actually, the password method has not been changed for decades despite the fact that identities have been hacked repeatedly, again and again, causing damages to users and organizations by destroying systems, ransom demands, and data thefts. Moreover, passwords are complicated to handle and difficult to remember. The demands from the users are insane; capital letters and regular, special characters, digits, and much more. So why do users still use passwords? The answer is simple – It’s because users trust most what is familiar and they trust themselves above all. However, what’s familiar isn’t always what’s best. The use of passwords made sense before cellphones changed the way we connect and communicate. Luckily, nowadays we have the ability to authenticate our identity with Multi-Factor Authentication – MFA. And everybody has the key for MFA in their pockets – the cellphone! Therefore, by presenting his phone, a user can authenticate his identity everywhere at any time. But, Not every form of MFA is necessarily created equal. SMS text message MFA can be sniffed or cloned. Token MFA is not a cost-effective method and if the token is lost or stolen, your identity is at risk. Biometric MFA poses cost, privacy, and security concerns: once biometric data has been compromised, there is no way to undo the damage because a compromised biometric is irreplaceable. Finally, there are the App solutions, which represent the most secure way of MFA. But note! all of the App MFA methods available in the market are based on automated random systems granting access to any person holding the users phone. And that… is a huge problem!