Our Impact
Privakey's technological impact in the cybersecurity world extends far beyond the confines of business, marking a significant shift in how digital security is perceived and implemented. At its core, Privakey challenges the traditional security paradigms by offering passwordless authentication solutions, a move that not only simplifies user experience but also elevates security standards.
In an era where cyber threats are increasingly sophisticated, Privakey's approach to utilizing biometrics, asymmetric cryptography, and endpoint technologies presents a robust defense against common vulnerabilities such as phishing, credential stuffing, and ransomware attacks.
More than 80% of data breaches are the result of compromised user passwords, and the ability of hackers to thwart multifactor authentication methods. Privakey eliminates not only the password vulnerability, but also the hassle of managing passwords, and the cost associated with resetting passwords and recovering user accounts. Most importantly, reducing the password-based attack surfaces results in dramatic reductions in data breaches.
The combined impact of improved security, fewer breaches, and more productive workforces represents a huge beneficial impact for business, including lower costs, more satisfied employees, and reduced reputational risks.
Privakey also offers substantial beneficial impacts for individuals. Most users have experienced the frustration of getting locked out of an account due to a lost or forgotten password. Password management challenges lead directly to poor cyber hygiene and increased vulnerability, particularly among less tech-savvy users.
Privakey empowers individuals by enhancing their control over personal data and privacy, which is crucial in a digital landscape where personal information is often at risk. By simplifying the authentication process, Privakey makes secure digital access more accessible to a wider range of users, including those less tech-savvy. This inclusivity is vital in bridging the digital divide and ensuring that advancements in cybersecurity benefit a broader spectrum of the population.
In the realm of public services and healthcare, where secure and efficient access to information can be the difference between life and death, Privakey's technology demonstrates its potential to revolutionize how sensitive data is managed and accessed. The assurance of secure and swift access to information can significantly enhance the efficiency of public services and public safety.
Privakey's impact is also significant in current cybersecurity trends and standards. As a pioneer in Passwordless technology, Privakey has had a significant influence in the ongoing shift towards more user-centric security models, also known as decentralized identity.
Most significantly, Privakey's technological contributions have set a high bar for protecting businesses and their users and making digital experiences easily accessible and manageable for all.