The goal of the REMME high-end secure system is to build a distributed Public Key Infrastructure (“PKI”) that will help infrastructure companies, IoT, medtech, financial and blockchain companies address the problem of security failings.
Hack of an exchange can costs hundreds of millions dollars and become reason of bankruptcy of service. It only takes simple phishing, like it was with Bitfinex with $70 million losses.
Transactions in Bitcoin and other cryptocurrencies are irreversible once done - you can’t roll them back. There is no higher authority that could do that, like in credit card transactions where you can report a fraudulent charge and the credit card company removes it from your account.
So security becomes number one priority in everyday work flow of an exchange. But it is hard to provide good security when users choose simple passwords and 2FA is only used by a few percent of users, making phising a common tactic used by hackers to steal funds.
REMME is working with several Bitcoin exchanges to provide them with a protected authorisation platform based on the same cryptographic principles with an user friendly one-click 2FA that will significantly improve security and defend from most cyberattacks.
"The REMME protocol has the potential to make authentication on Changelly seamless, so we keep an eye on that prospective technology."
Konstantin Gladych, CEO of Changelly
A successful cyberattack on a nuclear power station is not a minor nuisance of interrupting power for a few hours costing millions of dollars, but could create a new Chernobyl.
And it’s not just a hypothetical scenario anymore, as we in Ukraine found out when hackers switched off our electricity in the middle of the winter.
Critical infrastructure is normally based on reliable, age-tested and proven systems. As these were initially developed in pre-internet times and were designed to run in closed environments, securing against hacking attacks was not a priority. To improve capabilities and decrease cost, critical infrastructure is getting more and more interconnected and internet-connected, but securing it is proving difficult - making it an ideal sandbox for hackers to play with.
The providers of critical infrastructure equipment don’t have security skills and are increasingly looking for partners that can help them secure their existing systems.
REMME has built an advanced authorisation platform that is used by several energy companies and their SCADA software providers to significantly improve their security and defend from a variety of cyberattacks including phishing.
You would not want your car hacked, especially while driving it. Unfortunately, right now, any connected car can be hacked.
This is a huge problem for future development of transportation - self-piloted cars and smart cities with common networks that involve various IoT devices need a secure and protected infrastructure or they will become a playground for criminals and terrorists to perform attacks and cause chaos.
Current login/password architecture is not suitable for device-to-device communications, which forces automotive companies to resort to simple IDs or other primitive technologies for identification. This approach leaves the car wide open to hackers, as demonstrated by Wired two years ago and again recently.
This lack of secure identification also limits the adoption of advanced functionality like car owner’s identification, automated online payments for charging, granting rights for driving in car sharing, adjusting maximum speed for different drivers etc.
We believe that decentralized blockchain authentication system can solve this problem and provide an unprecedented level of security. REMME technology could be applied to car networks to provide a protected channel for internet connection and securing onboard systems from hacker attacks. Identity management is the base layer for building ecosystem environment for future cars.
Safe channels for car-to-car mesh networks enabling exchanging traffic information with smartcity systems and allowing avoiding crashes and accidents. Payments for electrocars charging could be done automatically.
Health and medical records are one of the the most sensitive data we have. The thought of anybody unauthorised having access to it is simply unthinkable. On the other hand, we want to have access to this data online, but are afraid to take this step due to security considerations.
Existing secure authentication solutions have a high per-user cost (think secure hardware tokens for banking or enterprise IT) and are therefore not appropriate for a system that - potentially - has every citizen for a user.
Medcare/Medtech companies developing solutions enabling access to medical data online need a cost effective, secure authentication component to integrate in their solutions. REMME can provide safe access to medical records by creating a framework for secure user authentication from different locations with simple 2FA.