Privakey locks down patent for 'a password-free future' - Technical.ly Philly

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Dec. 7, 2017 9:10 am

Privakey locks down patent for ‘a password-free future’

The Center City company has a staff of 11.

Privakey CEO Charles Durkin pitching his company's tech at Finovate in New York.

(Photo courtesy of Jenna Bascom Photography)

Center City-based Privakey, makers of an authentication software that aims to remove the need for passwords, announced it locked down the main patent for its system.

Under patent number 9,813,400, the company secured ownership of the tech that drives its password-free digital identity service.

The Privakey software works by “binding” user identities to their devices, through which people can then “tap-in” to access Privakey-enabled applications and online services, without using passwords. For higher-risk sites, like banking or healthcare, the platforms allow forĀ two-factor authentication.

“Our technology enables a password-free future, where consumers will no longer suffer the hassles and insecurities of using passwords for their multitude of connected services,” said CEO Charles Durkin.

The company was founded in 2016 and has a staff of 11 based out of Center City.

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