Protecting Online Identity Through Cryptography

A new startup, Credentica, hopes to offer the ability for you to perform secure transactions using the smallest amount of personal information possible. Their goal is to both protect privacy and enhance security, which they hope will be a mutually inclusive process. "The technique employs secure multi-party computation, a branch of cryptography that can calculate meaningful answers about secret information by knowing only some non-revealing clues about that secret. The underlying theory was demonstrated in 1982 by Andrew Yao in the so-called Millionaire's Problem [...] U-Prove employs an ID token, a special kind of digital certificate that allows for minimal selective disclosure. The tokens can store all kinds of information, but users can disclose only the minimum amount of data required in any given transaction. They leave no unwanted data trails and permit both anonymity and pseudonymity."

Identity theft is still aided by it's own victims

[erick99]

Unfortunately it is all too easy to accomplish identify theft via some very uncomplicated and low-tech methods. People still click on links in emails and type their financial information into fake websites or answer questions over the phone to the nice IRS man who wants to send me a tax rebate. However, I do applaud any effort to protect folks identities.

Re:Why do we need spy tools?

[timmarhy]

i certainly hope that was an attempt at humor

Re:Why do we need spy tools?

[Brad Mitchell]

We live in an age where anonymity is almost totally gone. We can hope, now, only for privacy. And the best way to do that is by vigorous demand for encryption methods and other tools that prevent a company or entity from asking a thousand and one personal questions just to pad their database.

Comment removed

[account_deleted]

Comment removed based on user account deletion

Re:Why do we need spy tools?

[Anonymous Coward]

We live in an age where anonymity is almost totally gone.

No, it's not.

This will never fly

[Nartie]

Why would any business want to use it? The bar that scans your drivers license gets some valuable information in the process. The porn site that asks for your credit card information to verify your age gets a credit card that they can use or sell. The bank that you ask for a loan gets all sorts of information, all of which it can sell or use to market itself. The current situation is bad for the customer, but the customer isn't the one who decides what verification system is used. None of this will change until large numbers of people refuse to do business with companies that demand more information than they need. And that's never going to happen.

terroristsdream

[noz]

To the asshole who tagged the article `terroristsdream': terrorism is not an excuse to erode our right to privacy. Fuck off.

No reason to use it

[Fnord666]

Simply put, this will not take off until businesses and corporations that warehouse our personal data are held financially liable for any losses that occur related to that data. Right now there is way too much positive financial incentive to hold onto as much consumer data as a company can, and almost no incentive not to. This situation will have to be reversed before companies will invest in a technology such as this.

Re:Why do we need spy tools?

[kaidadragonfly]

I don't want privacy and anonymity.

Can we get your:

• Real name: first and last
• Credit card numbers
• Bank account numbers
• Social Security Number
• And for good measure, your mother's maiden name

Please, show us how you don't want privacy or anonymity. Or did you mean you want it only for yourself?

Re:Why do we need spy tools?

[harlows_monkeys]

You seem very confused. If you don't trust people, you should love this technology. It will allow you to deal with those untrustworthy people without you having to give them your private information.