FIDO Alliance Releases Draft Standards for Easier Consumer Authentication
The FIDO Alliance has released a public draft of new security standards that could someday make user passwords obsolete, Forbesreports. The FIDO Alliance, a security-minded industry consortium that includes Google, Netflix and PayPal, is drawing the support of major tech companies looking for login alternatives with greater security, which easing the authentication burden on consumers, who must create and manage passwords and credentials for the numerous sites they visit.
A report by Forrester Research puts the cost of password breaches at $200 billion in annual losses. FIDO’s specifications offer a two-pronged approach to secure logins, as well as improved consumer experiences. The proposed U2F would enable users to login using a simple PIN to identify themselves, and at that point, a hardware device you carry with you (USB dongle, NFC-enabled smartphone or tablet, etc) would be used to identify you through encrypted communication through the Web browser, the article says.