Apple Inc (NASDAQ: AAPL) To Eliminate Passwords

What you need to know

A new authentication technology feature is here. Apple Inc (NASDAQ : AAPL) has started testing passkeys. The new technology, which is more secure and easy to use as passwords, will come later this year with new iPhones, iPods, and Macs.

The first step requires you to set up an account using a passkey. You are then required to choose a username. Finally, to confirm your identity, use FaceID or TouchID. Apple generates and stores the unique passkey used for the site while iCloud Keychain ensures synchronization across all your Apple devices. 

Since passkeys are end to end encrypted, the security of your data is guaranteed. Storage of all information on iCloud means your credentials will remain the same even with the loss or theft of your device. 

Garrett Davidson, an Apple authentication experience engineer, lauded the new technology as the easiest, fastest and safest among all other forms of authentification in use today. Speaking on Wednesday at the tech giant’s annual WWDC developer conference, Garret demonstrated how the new feature works by first creating an account, entering a password using his face as authentication, and later logging into the app through his Face ID.

Google and Microsoft to follow suit

The new passkey method underlines the increased interest in passwordless technology. The only drawback is that it works for Apple devices only. However, Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc (NASDAQ: GOOGL) are working out possible ways of departing from passwords.

Google’s senior vice president of core systems, Jen Fitzpatrick, said that bad passwords are the single most common security vulnerability today. He added that Google is on a mission to create a future free of passwords. He spoke during the Google I/O developer conference in May.

Microsoft is helping customers ditch passwords by updating its cloud computing technology. In March, Microsoft reported that over 200 million account holders had enabled password logins for their services. 

Currently, the technology is open to Apple devices only, but for passkeys to be successful, Windows computers and Android smartphones need to be available. For that reason, Apple is holding talks with FIDO (Fast Identity Online), a hardware security keys consortium. 

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Published by Nicholas Maithya

Nicholas is a Financial Analyst by profession, who enjoys writing about investments, technological developments, business, economics and other financial topics at various financial publications. Join him here on Wallstreetpr.com as he endeavors to deliver to you the latest breaking news on the above mentioned fronts. Contact him by email at nmaithya@gmail.com or follow Nicholas Kitonyi @nmaithyak on Twitter.

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