Experts keep predicting the death of the password, even though most of us still have quite a few of them we have to remember. Now a top security expert is calling for the death of the passwords. Jonathan LeBlanc from PayPal is jetting around the world giving a presentation he calls Kill All Passwords.
Accoring to LeBlanc, “As long as passwords remain the standard methods for identifying your users on the web, people will still continue to use “letmein” or “password123″ for their secure login, and will continue to be shocked when their accounts become compromised. ” He points out that 5% of users use “password” for their password and 13% use a variation of 1,2,3,4,5,6,7,8. You could switch to more complicated passwords, but people end up forgetting them.
Even if you switch to 2 or 3 factor authentication, such as having a fresh password sent via text every single time you want to get into your account, you still have the possibility for fraud and the issue of human error. Typing in a fresh password every day on a tiny phone screen gives you plenty of opportunity for errors, that’s the reason people often choose really simple passwords and keep them the same across devices.
He’s proposing a lot of different ways to help knock of the old dependable PIN code or password including eating your passwords. He says true integration into the human body could be the future for financial transactions. You could swallow tiny devices in a capsule that run on stomach acid or they could be injected into your bloodstream or embedded in your brain.
He thinks external biometric options like fingerprints are old-fashioned. PayPal is actually working on vein-recognition technology that would use a wearable band to identify customers by their heartbeat and blood flow.
This technology is up against the fact that most people value their privacy and don’t want to eat a password chip. And no matter how secure it sounds now, there’s nothing that can’t be hacked or duplicated or somehow compromised. Most of us would rather have our phone hacked than our brain chip.