For as long as many of us can remember, passwords have been our primary keys to all kinds of systems. However, that system is unlikely to weather the decades to come. The fact is, passwords are no longer the security standard that they once were. But what are startups doing to change this long-standing service?
In the here and now, passwords are still handy. However, it is thought that most people have more than 70 different passcodes to remember at any time. Thanks to innovations such as those via Apple's iOS, it's easier to store and recall passwords at any time. However, it's still a plethora of data and detail to remember.
Therefore, some startups and innovators are working hard to move personal and professional security to the next level. In many cases, this revolves around biometrics - eye scans, fingerprint scanning, and more. This means that people will have unique ways to access their devices and documents without remembering passwords.
The idea that passwords are dying out is nothing new. However, it wasn't such a salient option until the rise of biometrics in public buildings and with home devices. Innovations across the IoT (Internet of Things) are also helping people lock and unlock their data with minimum effort.
If we strive to get rid of passwords for good, it is crucial to see what innovators bring in to fill the gap.
Transmit Security is one such example of a firm looking to bin the password. Specifically, they focus on biometrics, and it seems that investors are excited about their approach. At Series A, the company raised a barnstorming $543 million earlier this year. It's an indication that data technology is moving past ideals and into concrete action.
Beyond Identity, meanwhile, takes a slightly different approach. The New York firm raised a healthy $75 million from venture funding towards the end of 2020. However, instead of revolving around biometrics, their technology has firm roots in signed documentation. That is, users will need to supply signed documents to access the services and devices they wish to control.
Gazepass is another emerging name in biometrics that looks at password replacements in a slightly different way. With Gazepass' technology, you'll be able to access devices and data with your biodata - without scanners. It's an exciting premise that seeks to compete with bigger fish in the biometric pond.
The concept of a passwordless society is an appealing one. Very few of us will likely be keen to keep remembering long-winded phrases. However, we all want to make sure that our devices and data are secure.
It is well worth taking a look at real-time data on tech security startups emerging now. Fundz may be just the best place to start for all you need to know.
SOURCES
https://www.producthunt.com/newsletter/6793-this-startup-wants-to-eliminate-passwords
https://venturebeat.com/2020/12/08/passwordless-tech-startup-beyond-identity-raises-75-million/
https://techcrunch.com/2021/06/22/transmit-security-raises-543m-series-a-to-kill-off-the-password/