TODAQ Signs Agreement with IBM to Onboard Products to the Red Hat Marketplace and OpenShift
Low Code API Credentials and Access Management product coming this fall to power digital credentials to make them unforgeable, self-auditing, and with automatic 2FA/OTP.
(2 min read)
TODAQ is pleased to announce they have finalized their agreement with IBM to onboard their software to the IBM Cloud, starting with the Red Hat Marketplace and the OpenShift Platform. The TODAQ team will be working with the IBM and RedHat staff to bring the first specific product to market this fall.
That first low code software product will be focused on empowering developers and companies to be able to adapt their systems and apps with Credential, Identity and Access Management solutions where Credentials and Capability Tokens:
cannot be forged;
are self-tracking and hold an internal immutable audit trail;
update each minute with their own internal unique One-Time-Password and provide the potential to remove steps and weaknesses with today’s passwordless and 2FA solutions;
become truly portable and interoperable across any system or device; and
Allow for true P2P verification and transactions without need to connect back to central system to provide offline resilience; and
Are based on technology efficient and fast enough that verification can practically occur with every use and action, so full Zero Trust.
Privacy and Need-To-Know. Ensure ownership, control and privacy stay with the true credential owner while giving the verifying counter party the transparency that they need.
Why do we care about empowering customers with these features?
Because the frequency, impact and cost of Cyber Breaches continues to rise and most breaches start with credentials being copied, forged or manipulated.
Because the costs and regulatory burden of proper Verification and meeting Know-Your-Customer requirements continues to rise. This keeps billions of people out of the market, not to mention eating into the margins of businesses. It’s not just financial services where this matters; the growth of marketplaces for digital asset, E-sports and other services is also pushing demand.
Because sovereign ownership of identity and data is not just about human rights, it also makes good business sense, reducing liabilities and costs while allowing for improved provision of goods and services.
Empowering people and businesses to be able to own one set of credentials that can be used anywhere, across any system or device is no longer a nice to have but a transition we must do. Technology alone never solved anything but without a step change in technological capability we will never get there, which is what TODA was designed to solve.
What do we mean when we say credentials and capability tokens?
There are many facets of credentials that point back to an individual or organization and the first TODAQ product will allow any and every one of them to be equipped with these properties.
Capability Tokens give users access rights and privileges with software systems and apps, and there are a number of uses and applications of capability tokens in the market today. The weakness is that the integrity of the capability token is trapped within the system that issued it, so not very portable. We live in a world with tons of systems, with even more interconnections and integrations, so things become complicated, expensive and fragile quite quickly. By providing distributed capability based security, this is a gap TODAQ aims to fix.
Morgan Stanley estimates this as a $40 billion industry that is still nascent with tremendous room for growth. Consider that 80% of this market is just focused on serving the enterprise work forces as the costs and other missing gaps restrict its size and accessibility to everyone.
We look forward to empowering IBM’s customers with some credential superpowers in the near future to solve their business Verification, Fraud, Cost and Automation, as well as Customer Experience needs in the near future. We’re not stopping there, TODAQ Credentials and Access Management product will be available for everyone.
TODAQ is also working with technology partners to provide TODA powered Identity and Biometric Verification Solutions, as well as Data Ownership, Compliance and Privacy Products that will plug and play into into any TODA enabled system.
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