Everykey launches a wristband to manage user passwords
Wearable devices are now used not only for fitness and health but also for a wider range of applications. The Cleveland-based startup Everyykey has developed a wristband device whose purpose is to manage the user's password. The company is raising funds through Kickstarter, a mass-funding website. The company’s chief executive, Chris Wentz, said: “Everykey Wristband will use Bluetooth technology to unlock smart phones, computers and websites. If a wristband is lost or stolen, users can call the company or go to the company’s website to disable the device. ."
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Analysts said: "If the user loses the wristband, it will pose a security risk for the user." Wenzi said: "Everykey wristband will use the AES-128 encryption standard to encrypt the user's password." Everykey will be located in the United States. The password is encrypted on the server at the headquarters. However, the analyst said that after saving the user's password, the end server will be another major security risk because it is vulnerable to attack.
Everykey’s competitor, Nymi, Inc., headquartered in Toronto, launched a wristband called Bionym, and in order to prove that it can be a more secure password manager, Nymi provided three factors. Nymi uses heart rhythms to verify the use of biometrics, just like the user's fingerprint or retina. Without the user's unique heartbeat and authorized authentication device, Nymi is useless, even if it is misplaced or stolen.