Periodic Reporting for period 1 - StrongPIN (The first mobile app to enable LoA 4 hardware backed security on any existing mobile phone safeguarding the identity and privacy on the everyday digital life in an easy to use and scalable manner)
Reporting period: 2019-07-01 to 2019-09-30
Data breaches, identity fraud and hacks often occur due to companies settling for inferior security measures, due to customer preferences or budget constraints. Ubiqu has developed a product that eliminates the user experience – security tradeoff , by moving the secure element into the cloud. One in five EU citizens were affected by identity fraud, which amounts to 90M victims. We plan to address this issue by bringing the highest level of security at the lowest price point in class, shifting the paradigm of personal and corporate online security. In the Feasibility study we set out to find the ideal market sectors to launch our product, determine the necessary technical advancements, and plan out our business, IP, and commercial strategies.
The Feasibility Study outlined in this document has allowed us to consider in detail the chances of StrongPIN emerging as a viable alternative to established IAM solutions present on the market. Through a careful examination of market trends, current solutions, and Ubiqu’s assets and weaknesses, we prepared a tailored strategy to deploy our innovation and estimated an exceptionally positive outcome. Through the technical feasibility study we have determined the exact steps needed to bring StrongPIN to the European mass-market. In the presented FTO analysis, we show that the core of our innovation is already protected by global patents and we are free to deploy internationally. By looking at the current state of affairs of IAM in the target sectors, we identified the most appropriate strategies to secure a sufficient revenue stream, and rapidly expand our user base. With the EIC funding, we will gain the necessary momentum in order to emerge at the leading edge of the digital transformation.
StrongPIN is the first solution to achieve a separation between the ‘storage’ and the ‘access’ to the Hardware Security Module. In the Feasibility study we assessed the the technical steps necessary to scale up our secure infrastructure maintaining the quality. We also determined how to facilitate expansion by choosing several framworks for which we will prepare plugins to be able to rapidly integrate our solution. We outlined plans to integrate our innovations in cognitive biometrics into our product to further increase user security. As we expand our userbase, we can expect an increase of public trust in digital solutions in the general public, which carries numerous benefits.