Cloud Expo Silicon Valley: Securing Identities in the Cloud

As web applications continue to proliferate, identity theft and fraud expand to chronic levels in the US. Back in 2006, the FTC reported over 8M victims of identity theft with cases costing $5000 and 1200 hours to repair the damage, and it’s only gotten worse since then. MasterCard and Visa spend over a billion each year to fight identity theft and web companies are increasingly the subject of class action lawsuits due to online security breaches. Web companies need to find a safer method for securing the identity of their users.
Thankfully new cloud solution companies are responding, offering solutions with strong authentication and the convenience of the cloud and your mobile device. These solutions can be easily deployed utilizing new technologies like secure QR codes, smart silicon embedded in laptops and tablets, and secure mobile apps. Recently, a few ASPs like Twitter and Facebook have deployed SMS authentication for additional security. These incremental steps are moving in the right direction but fall short of what is required to stop hackers.

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