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A new wristband that aims to replace the password has launched a crowdfunding campaign on Kickstarter.
At the time of writing, Everykey has passed the halfway mark on its $100,000 funding target with $56,586 pledged with 19 days to reach $100,000.
Using Bluetooth, the Everykey promises “immediate access to a user’s password-protected electronics such as a smartphone, tablet, or computer, as well as physically locked items including doors, car doors, bike locks, and other controlled access devices.” It claims to use ‘military grade encryption,’ and offers the chance for users to instantly disable it should it be lost or stolen.
“The band doesn’t actually store your password and login library, it’s simply an authenticator,”, Slashgear explains, also highlighting that there are limitations based on the format required, with only Jailbroken iOS devices working with it, for example. Slashgear also highlights another issue for more complicated authentication systems: “Multiple accounts for a single website and two-factor authentication are two issues that the company is looking into addressing, but there will be no solution at launch.”
It does, however, already offer support for Gmail, Facebook, Twitter and “every other website we’ve tried it on” which is a promising start in terms of widespread support.
TechCrunch draws parallels with the Nymi wristband, which as we reported last week is soon to be trialled by the Royal Bank of Canada for banking, but notes that it is a little bit less sophisticated without any of Nymi’s biometric authentication. According to TechCrunch this is because Everykey’s CEO Chris Wentz is skeptical about the electrocardiogram data you can accurately read from a single wearable. It also allows the device to have a better battery life, reportedly lasting up to a month.
You can back the Everykey on Kickstarter now, with a $50 pledge enough to secure one, when it ships (assuming it meets its funding target) in March next year.
Author Alan Martin, ESET