Stepwise: financial data encryption
Lockstep Technologies' Stepwise radically enhances privacy and security for consumers online, by protecting personal data from theft and replay. Stepwise encapsulates personal identifiers using smartcard technologies, to prove where they came from. It keeps identifiers under the sole control of the individual, strips them of all extraneous personal details, and allows each to be exercised independently of all others. It can thereby anonymise sensitive transactions, such as government services, social security claims, e-health record entries, payment instructions and so on. Stepwise enables diverse applications and third party business relationships to be safely managed from government or bank-issued smartcards without information leaking between services.
Stepwise has the potential to eliminate most forms of identity theft as it is known today. Personal data encapsulated and protected by Stepwise cannot be taken over and replayed without the owner's consent. Credit card details secured using Stepwise are immune to card-not-present fraud.
Applications for the technology include:
- Credit card payments over the Internet, to prevent card-not-present fraud
- Anonymous age verification for minors and for adults
- Privacy enhancements for government issued smartcards
- De-identified e-health records
- Internet voting.
Existing and potential markets include:
- European health and ID smartcards
- Asian ID smartcards
- Chip-and-PIN card schemes in Europe and Asia
- US Government Personal Id Verification (PIV) cards
- Private health smartcard schemes.