Cloud Star Corp Joins the FIDO Fast Identity Online Alliance
NEWPORT BEACH, Calif., May 22, 2013 /PRNewswire/ — Cloud Star Corp (OTCBB: CLDS) a Nevada corporation specializing in security technology for cloud computing, today announced its membership to FIDO. The FIDO (Fast Identity Online) Alliance was formed in July 2012 to address the lack of interoperability among strong authentication technologies, and remedy the problems users face with creating and remembering multiple usernames and passwords. The Alliance plans to change the nature of authentication by developing standards-based specifications that define an open, scalable, interoperable set of mechanisms that supplant reliance on passwords to easily and securely authenticate users of online services.
Cloud Star Corp is strategically poised to be part of this progressive Alliance along with leading Technology Companies. Cloud Star’s focus on Cloud Security aligns with the FIDO mission to change the nature of online authentication. Its patent pending MyComputerKey provides security to connect to the Cloud without being vulnerable to insecure password protocols. The current password-based Internet authentication system is plagued by reuse, malware, and phishing.
Cloud Star Corp is also investing into the OTP (one-time password) space along with its USB approach. The OTP and USB key authentication market is estimated to be approximately $600 million, and IDC forecasts the strong authentication market to realize more than $2.2 billion in revenues alone by 2016. In order to keep pace and be a leader in this space, Cloud Star Corp is actively pursuing innovation by investing in R&D.
“We are advancing our alternative authentication processes to make cloud access more secure than the current password dependent systems implemented globally. By joining FIDO, we open collaborations with other member Companies in this space,” stated Safa Movassaghi, President of Cloud Star Corporation.
“The FIDO Alliance is proud of our associate member Cloud Star Corp for its dedication to the vision of an open industry authentication standard. They join a powerful FIDO ecosystem vital to widespread adoption of open authentication that simplifies the user experience while raising security and privacy at the same time,” said Michael Barrett, FIDO Alliance President and PayPal Chief Information Security Officer. “FIDO Alliance members embody the innovation that the open FIDO protocol enables. Cloud Star Corp joins FIDO Alliance members in rigorously defining and outlining the FIDO protocol’s anticipated release later this year.”
About Cloud Star Corporation
Cloud Star Corp, NV, is an innovative cloud computing company that provides security, technology, and products to the technology marketplace. The Company operates in the remote-access computing sector including enhanced security connections. Cloud Star has developed patent-protected remote access security devices such as MyComputerKey(TM). The Company also develops online application security technology.
“Safe Harbor” Statement: Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Notice Regarding Forward Looking Statements -This press release includes forward-looking statements that involve a number of risks and uncertainties, including the success of the programs it is commercializing and developing. Further, the risks involve the ability of the Company to raise capital to fund its operations and the capital requirements for the development and marketing of its products. Investors are encouraged to review the risk factors listed or described from time to time in the Company’s filings with the Securities and Exchange Commission.
SOURCE Cloud Star Corp