Companies sign a licensing agreement for hardware-based security for virtual smart cards

Wave Systems announced that it has signed a licensing agreement with Deepnet Security to permit Deepnet to arm Deepnet’s Smart ID virtual smart cards with Wave’s hardware-based security technology designed to protect users’ digital identities.

Wave’s technology is designed to enable the encryption keys used for and by Deepnet’s Smart ID virtual smart cards to be automatically generated and protected by the unique standards-based Trusted Platform Module (TPM) hardware security chip. This new level of security supports the advanced functionality of the Smart ID, which can hold users’ personal credentials, such as private encryption keys, passwords, digital certificates and biometrics, inside the protected environment of the internal file system.

Using Wave’s Trusted Computing Group-Enabled Cryptographic Service Provider (CSP), Deepnet can deploy its Smart ID virtual smart card application with hardware-generated and stored cryptographic keys. Traditionally, these keys are vulnerable to attack; one solution is to store the keys in a Trusted Platform Module vault.

“This agreement allows us to offer a higher level of security to enterprise customers,” said Yurong Lin, CEO of Deepnet Security. “We are very pleased to have signed the agreement that will benefit our customers. We value the TPM technology Wave Systems has developed and see it as a good complement to our virtual Smart Card.”