LaserLock Technologies Successfully Completes Testing of Online Gaming Authentication Solution and Prepares for Product Launch
WASHINGTON, July 23, 2013 /PRNewswire/ -- LaserLock Technologies, Inc. (OTCBB: LLTI), a global leader in providing state-of-the-art authentication solutions to governments, health care providers, high-end retailers and the gaming industry announced today it has successfully completed exhaustive testing of its online gaming authentication solution and is ready to take it to market. The solution is a multi-factor authentication system that utilizes the LaserLock's VerifyMe™ and other technologies to determine the identity of online gaming players. Multi-factor authentication goes beyond the currently compromised system of passwords and PINs and provides added layers of protection to everyone involved in gambling transactions.
"As more states legalize online gaming, we are excited to bring our solution to market to protect both players and casinos from the risks of identity theft," said Neil Alpert, CEO of LaserLock Technologies. "Incorporating multiple layers of authentication is key to making online gaming secure, and our solution accomplishes this and is quick and easy to use."
The commercial-ready solution is an application that can be integrated into online gaming platforms and uses a variety of LaserLock's VerifyMeTM and other technologies. The solution is based on three critical authentication factors: something you know, something you are and something you have. This mitigates many of the risks that come with a single method of authentication such as a password or PIN, ranging from malicious identity theft to something as benign as a child picking up their parents' tablet and gaming.
After a first-time registration that authenticates a person's real identity, a player will then input a unique, color-based gesture swipe (something you know) while the app simultaneously performs a facial recognition scan (something you are) and a mobile device-based geo-location tag (something you have) – crucial to ensuring one is in a jurisdiction where gaming is legal. It also incorporates proprietary ethical gaming safeguards that mimic a physical casino's ability to identify and prevent problem gaming. It allows players to set limits for themselves and tracks patterns of play for irregularities.
"There is significant hesitation on the part of lawmakers and the public to legalize online gaming, fearing it will open up a Pandora's box of problems," said Michael R. Sonnenreich, Chairman of the Board. "When our commercial-ready solution is utilized, in conjunction with our strong ethical gaming platform, it creates a more secure and acceptable alternative for both the player and the casino."
The Company is currently in talks with multiple online casino operators to implement its solution as the preferred method for authenticating players.
ABOUT LASERLOCK TECHNOLOGIES, INC.
LaserLock Technologies, Inc. based in Washington, D.C., is publicly traded on the OTC Market under the ticker symbol "LLTI". The Company markets security technology to protect governments, health care providers, high-end retail goods, the gaming industry, documents and branded products from counterfeiting. To learn more, visit us at www.laserlocktech.com or follow us on Twitter @LaserLockTech.
SOURCE LaserLock Technologies, Inc.