SecureKey to Provide MintChip with PIN Authentication

MintChip will be tapping the services of SecureKey to provide PIN authentication for users of its solution.

MintChip is the brainchild of the Royal Canadian Mint. Technologically, it resembles cryptocurrency like Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term in behaving like a p2p currency- "self-secured" via cryptography with no intermediary such as a bank. The currency it supports is fiat in every other way. Previously, into the crypto world when the solution was presented at the National Retail Federation’s Annual Convention & EXPO in New York nearly two months ago.

With SecureKey, users will have to enter a QuickCode PIN on their device before they can access their funds. While the notion of a PIN to access funds shouldn't sound too novel, in this case it is actually designed to replace the cumbersome baggage of keys, certificates and the like. In addition, the PIN works across multiple devices. With standard bank/credit cards, a PIN is specific to only one specific card, even if there are multiple cards per an account. With Mintchip and SecureKey, your mobile device(s) and/or PC are like multiple bank cards protected by a single PIN.

Mobile devices take it a step further in that they can be used directly at MintChip-enabled point-of-sale terminals.

SecureKey is a Toronto-based startup who provides "Cloud Cloud The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc The cloud or cloud computing helps provides data and applications that can be accessed from nearly any location in the world so long as a stable Internet connection exists. Categorized into three cloud services, cloud computing is segmented into Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). In terms of trading, the versatility of the cloud service allows retail traders the ability to test out new trading strategies, backtest pre-existing conc Read this Term-based, trusted identity networks that enable organizations to quickly and easily deliver high-value online services securely to millions of consumers". They are the Mint's second major partner in this endeavor, the first being Ingenico, a global payment solutions company who will develop the hardware.

In essence, the introduction of a third party host for secure PIN's somewhat lessens the p2p "purity" relative to Bitcoin, which is designed to secure itself using its own keys. Practically speaking, it can offer the best of both worlds in relegating the middleman solely to a role of security guard without him getting his hands on the money or taking any part of it, unlike what is encountered with today's fiat.