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

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 for two-factor authentication.

Did you see the news? Privakey has been awarded a patent for our work in creating a universal, #passwordless authentication system! This is a huge step towards our vision of a password free future. Contact us to learn more! #2FA https://t.co/tDhgbuFfq8

— Privakey (@privakey) November 29, 2017

“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.