Home SMART 100 2016 TokenOne Authentication

TokenOne Authentication [SMART 100, 2016]

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This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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1. THE BEGINNING

This innovation initially came to life when…

Philip Cuff (TokenOne’s Executive Chairman and CEO) partnered with BlueChilli (a Sydney based innovation hub) to create a digital iteration of a security standard called One Time Pad and determined how this principle could be created and deployed using a user’s smart phone. The concept was developed by BlueChilli to a point that it could be used to raise capital, for full development and commercialisation. The technology would enable organisations to replace passwords, tokens and other authentication solutions with something more secure. Its simplicity and scalability would allow organisations to use this to strengthen their protection against cyber attacks.

The purpose of this innovation is to…

address the insecurity of passwords. The problem with passwords is that to prove that ‘you’ know the password, you must reveal it by typing it in. TokenOne allows users to prove they know the secret without ever revealing it.

It does this by…

leveraging the One Time Pad principle and allowing the user to mentally scramble their secret so that it is never entered, transmitted or even stored anywhere. TokenOne’s patented approach does this in a way that is simple and convenient to the user, and is not prone to algorithmic or time syncing attacks making TokenOne un-crackable.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

TokenOne provides a secure technology that addresses the ever growing cyber-security threats that face organisations and governments. The scalable nature of the solution means it is possible and cost effective to deploy secure authentication at scale. For the user, TokenOne replaces dozens of complex passwords so that they only need one phone and solution for all their accounts and services.

Its various benefits to the customer/end-user include…

being more simple, convenient and secure for users than existing authentication solutions. Users can be confident their private information is safe AND they can control their own security because they can securely self-change their TokenOne PIN even if forgotten.

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

expensive, inconvenient and un-scalable hard tokens that generate a different random number every 60 seconds.
Other newer approaches such as software tokens, biometrics and highly insecure SMS of one time codes to a user’s mobile phone, all increase levels of cost, complexity, inconvenience or insecurity to varying degrees. Uniquely, TokenOne is highly secure, cost effective, convenient and simple.

Its predecessors/competitors include…

RSA tokens, Vasco tokens (similar to RSA), Google Authenticator, Authy, Duo Security, Toopher, Clef, Mobile Connect and sending one time codes by SMS.

5. TARGET MARKET

It is made for…

employees, customers, business partners and contractors of corporate Enterprises and SMBs, Government, Financial Institutions, Healthcare Providers, Online Businesses, Educational Institutions, Retail and particularly Critical Infrastructure, where security really matters.

It is available for sale through…

TokenOne sales Partners, Value Added Resellers (VARs), OEMs and, Identity Assurance Platform providers (IAPs).

Our marketing strategy is to…

position TokenOne as a Secure, scalable and simple solution. We are currently attending/exhibiting at domestic and international industry-related Conferences, for additional exposure, such as ACSC, CeBit, SingTel Product Innovation Fair. We aim to add PR activities in 2016. This is complemented by indirect promotion by our partners who are armed and trained on differentiating, positioning and selling the TokenOne solution.

FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.

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