planetRE, the nation's leading enterprise cloud vendor, has announced on the eve of ALTA One 2022, the Annual North American Title company event, the launch of world's first, patent pending Web 3 based Digital Identity Management and passwordless system under the Skyharbor brand.
The system is expected to be deployed as API sets in late Q4/early Q1 2023. Company also plans to bring a traditional API based Web 2 system so customers can make a choice of either implementation.
Every user on the web knows how painful the process of password creation, maintenance, updating is on various sites with frustrating lock outs due to incorrect entries, repeat CAPTCHAs etc. Consumers typically bounce off sites as potential leads, making organizations lose a lot of new business leads and frustrating existing clients. Passwordless solutions on the web today that use traditional 2FA or MFA techniques have their own limitations.
The new technology is expected to remove many of the obstacles making user onboarding and ongoing verification frictionless and scalable. After a simple one-time registration, users can get in with future logins without repeated 2FA clicks. Passwordless systems are expected to improve website lead conversions by 60% as per industry claims.
"This technology is a major breakthrough in this space" said Subrao Shenoy, CEO of planetRE. "We expect to scale and cater to developers, businesses and industries globally that can benefit on the merits of the new system".