Don’t Gamble with Passwords – With MIRACL, it’s one PIN and You’re In

In today’s uncertain times, man must be on guard. This applies to both property and privacy. Technological progress brings new ways of interfering with our goods, so it’s no wonder that we want to protect them more and more. MIRACL comes to the rescue with its easy-to-use and implement solution.

In 1972, Egyptian engineer Mohamed M. Atalla filed U.S. Patent 3,938,091 for a remote PIN verification system, which utilized encryption techniques to assure telephone link security while entering personal ID information, which would be transmitted as encrypted data over telecommunications networks to a remote location for verification. This was a precursor to Internet security and e-commerce. At the National Association of Mutual Savings Banks (NAMSB) conference in January 1976, Atalla Corporation (founded by Mohamed Atalla) and Bunker Ramo Corporation (founded by George Bunker and Simon Ramo) introduced the earliest products designed for dealing with online security.

Atalla announced an upgrade to its Identikey hardware security module, called the Interchange Identikey. It added the capabilities of processing online transactions and dealing with network security. Designed with the focus of taking bank transactions online, the Identikey system was extended to shared-facility operations. It was consistent and compatible with various switching networks, and was capable of resetting itself electronically to any one of 64,000 irreversible nonlinear algorithms as directed by card data information. The Interchange Identikey device was released in March 1976. In 1979, Atalla introduced the first network security processor (NSP).

Wind the clock forward nearly 50 years and MIRACL seeks to address the need for users’ security by combining the most familiar and intuitive of user interfaces with cutting-edge cryptography that enables big advances in data privacy, key management and user experience.

Multi-Factor Means Stronger

Strong authentication means a user provides two or more of the following when requesting access:
• Something only the user has (a split key shard in a mobile app or in a browser)
• Something only the user knows (a 4 digit pin)
• Somewhere the user is (a known time or place)

For maximum security you should ideally authenticate with something you know, something you have, and something you are. Typically that would be a password, a physical device of some sort, and a biometric like a fingerprint. For the moment the industry appears to be content with just two factor authentication, which could be any two out of these three.

Zero knowledge solution

As history shows, the problem of securing authentication has been known for a long time. The concept hasn’t changed much these days, but technology allows for much more. Here’s some proof of that: MIRACL Trust® is a highly innovative authentication solution for the gaming sector that provides all of the benefits of secure multi-factor authentication with a passwordless and super-quick user experience – all important for a time-sensitive or impulse-led purchase such as a bet. Multi-factor authentication achieved with a simple, friction-free experience for the user keeps customers engaged, playing and paying whilst protecting them from any credential hacking. At the same time, its zero knowledge proof technology eliminates the risk of phishing or the need for any personal data on the user.

Challenging the out-dated concept of passwords and stored credentials, this highly-secure solution is set to revolutionise the way online gaming platforms provide authentication for online financial transactions. Utilising cutting-edge military-grade cryptography and 12 patents to form what’s called a Zero Knowledge Proof, MIRACL Trust® requires no personal user data to be either stored or sent for an authentication and uses either a simple 4-6 digit PIN or a biometric (on compatible devices) for access. There is no database associated with MIRACL Trust® that could represent a GDPR liability and there is no risk of credential stuffing, man-in-the-middle or phishing attack – three of the most common cybersecurity threats.

Boost customer retention

MIRACL already supplies the world’s only 100% software, multi-factor authentication (MFA) PIN based solution to customers such as banking giant Crédit Agricole and consumer credit leader, Experian. MIRACL Gaming Solutions provides the opportunity for gaming sites to capitalise on this new, highly secure authentication too. Passwords are currently the cause of 81% of hacks and 70% of support queries. These two factors are responsible for a large proportion of customer churn so addressing them will boost gaming operators’ customer retention and their overall profitability.

Robert Griffin

CEO of MIRACL, Rob Griffin comments:

“Everyone hates usernames and passwords; users and operators alike. They represent the single biggest threat to safe online gaming and need to be replaced immediately. During the last year, the body of usernames and passwords that is for sale on the dark web has ballooned so things have reached a tipping point that has rendered them no longer fit for purpose in a real-money gaming environment with growing regulatory pressure and fraud considerations. It is time to re-evaluate. MIRACL Trust® enables secure log-in and transactions across browser or app, working on any mobile, desktop or even a smart TV with a 4 digit PIN, supported by patent-awarded IP that enables the most secure multi-factor authentication on the market. It’s a world first and a concept that I believe is a no-brainer for the highly active online gaming sector. ”

Binary proof

In gaming, access devices are very personal to given users. Without knowing the actual identity of a given user, it is impossible to manage responsible gaming, protect customers’ assets, mitigate fraud and support self-exclusion. The MIRACL Trust® provides binary proof that ties a given user to given authorised access devices. Its’ MFA works either on a standalone browser without the need for a mobile or in app. It is both seamless and entirely cross-platform, providing a consistent user interface. Since it works in-app, there is no impact on conversion rates from users having to check non-secure messages outside the app. The platform operates with a ‘pay as you go’ model that is cost effective and manageable. The MFA software-based concept is highly secure and the PIN number easily memorable for users. A message for the online gaming sector – stop gambling with outdated passwords. With MIRACL’s ‘one pin and you’re in’ – it’s as simple as that.

Despite the general belief that our security and privacy are inevitably compromised if we want an excellent online user experience, MIRACL proves that the opposite is possible and that technology’s development can allow us to feel safe.

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