Cloud Security Corporation Files U.S. Patent Application for One-Time Password System and Methods on a Mobile Computing Device
NEWPORT BEACH, Calif., June 13, 2013 /PRNewswire/ -- Cloud Security Corporation (OTCBB: CLDS) a Nevada corporation specializing in security technology for cloud computing, today announced it filed for U.S. Patent protection (U.S. Serial Number 61/832,534) on June 7th for system and methods for one-time password generation on a mobile computing device. This process reduces several risk factors related to current one-time password technology.
Current one-time password technology on mobile computing devices has several points of vulnerability. These vulnerabilities are present during device theft, remote hacking and related in part to the time based nature of most algorithms for one-time passwords. This can lead to a device being compromised and the one-time password technology falling under control of the perpetrator.
Cloud Security Corporation has developed a process generating a unique device signature and password each and every time a one-time password is needed from a password generator. Further, means of authenticating the one-time password are configured to synchronize with the unique device signature while remaining out-of-band from the channel used to submit the one-time password for authentication. This process creates several additional layers of security that allow the mobile device to function as a password generator relying both on algorithms and an authentication server creating unique device signature and password with one-time use every time a password is required. This helps to reduce current one-time password vulnerability from physical loss or hacking of mobile computing devices.
Safa Movassaghi, President and CEO of Cloud Security Corporation, stated, "Cloud Security Corporation is thrilled to file this patent. This technology expands our product reach into new areas of cloud computing security. Cloud Security Corporation now increases reach beyond remote access security and online app security into mobile computing device security which is a rapidly growing space."
About Cloud Security Corporation
Cloud Security Corporation is an innovative cloud computing company that creates security, technology, and products. The Company develops products in the remote-access computing sector, online application security technology and mobile device security technology. Cloud Security Corporation has developed patent-protected remote access security devices such as MyComputerKey™ and filed patents in mobile computing device security.
"Safe Harbor" Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Notice Regarding Forward Looking Statements - This press release includes forward-looking statements that involve a number of risks and uncertainties, including the success of the programs it is commercializing and developing. Further, the risks involve the ability of the Company to raise capital to fund its operations and the capital requirements for the development and marketing of its products. Investors are encouraged to review the risk factors listed or described from time to time in the Company's filings with the Securities and Exchange Commission.
SOURCE Cloud Security Corporation