iovation has patented a new authentication system that would require multiple parties to approve transactions in order for them to go through. The patent is entitled “Systems and Methods for Group Authentication”.
In a certain sense, the patent application is a direct result of iovation’s acquisition of LaunchKey this past September. In a statement announcing the IP acquisition, iovation’s Product Director of LaunchKey compared the concept to the popular depiction of military protocols regarding two-person authentication for sensitive maneuvers like launching nuclear weapons, and revealed that “it was the classic depiction of two missile launch officers authenticating with two separate physical launch keys that inspired the name LaunchKey.”
iovation says its Group Authentication system would use authentication methods such as fingerprint scanning, PIN and pattern codes, or geofencing. And the company isn’t expecting its system to be used exclusively for nuclear missile launches; its patent application outlined other potential uses such as requiring multiple developers to approve a software update and even getting two parents’ approval to let their child watch a movie.
November 18, 2016 – by Alex Perala