Helping to make the world more secure
About CEW Systems Canada Inc.
CEW has created a specialized encryption handshake designed to protect smart cards, POS terminals, debit and credit card purchasing, electronic wallets and online banking apps from both current low-cost vulnerabilities and the near future quantum computer decryption threat. (Watch video)
Location: Ajax, Ontario
Year Founded: 2017
Vertical: Cyber security
Employees: 1 – 10
Website: cew-s.com
Social Media:
Ideal Customers
Businesses / Consumers (B2B2C)
Problem
Currently smart card Fintech is vulnerable to low-cost attacks such as portable card reader scanners, POS terminal swaps, hidden under counter card readers, online banking password theft and the looming near future quantum computer decryption threat. Each of these low-cost threats currently costs the banking and credit card industry millions, if not billions in stolen funds. It is all to well known that these and other various low-cost tech attacks used by bad actors to steel debit and credit card numbers is all too easy. A solution is needed, but it also needs to be quantum resilient to cover the threat posed by the quantum computers that are coming far quicker than thought. A Chinese paper was recently published that states a quantum computer with just over 400 qubits will be able to break RSA encryption. Time is running out, a solution that can cover all these vulnerabilities is needed now, IBM is about to release there 300+ qubit quantum computer this year.
- Startup Pre-revenue 100%
- Startup Post-revenue $1 – $2M 0%
- Scaleup $2M – $10M 0%
- Scaleup $10M+ 0%
Core Benefits
Randomized Data Handshake (RDH) a specialized handshake that wraps around AES encryption. For the first time RDH allows AES to exchange its own session keys. It is a specially designed encryption for radio and other communications means which can be easily intercepted (i.e., wireless POS terminals in restaurants). RDH is intended to be used to encrypt the communications between a bank client and banking servers. This includes smart card POS terminal purchases, online banking, electronic wallets, bank terminals, etc. RDH exchanges only 100% randomized data, with the exception of a hashed or encrypted User ID, required for client database lookup. Using two separate pre-exchanged keys (totaling 2,304 bits) encrypted randomized data is exchanged allowing the sender and receiver (client and banking server) to not only mutually authenticate each others identities but also simultaneously indicate instructions (such as purchase with the checking or savings account). This includes “Tap” purchases. The first key is 256 bits in size, while the second key is 2,048 bits. With each transaction, a temporary session key of 256 bits is extracted from the second key. This means where limited intercepts of purchases is possible, it will be impossible to decipher the entire 2,304 bits of keys.
Milestones
White paper written by polytechnic institute reviewing the Fintech application. Pen testing by leading company was unable to break the encryption. New detailed white paper has been submitted for peer review and publishing.
Problem
Currently smart card Fintech is vulnerable to low-cost attacks such as portable card reader scanners, POS terminal swaps, hidden under counter card readers, online banking password theft and the looming near future quantum computer decryption threat. Each of these low-cost threats currently costs the banking and credit card industry millions, if not billions in stolen funds. It is all to well known that these and other various low-cost tech attacks used by bad actors to steel debit and credit card numbers is all too easy. A solution is needed, but it also needs to be quantum resilient to cover the threat posed by the quantum computers that are coming far quicker than thought. A Chinese paper was recently published that states a quantum computer with just over 400 qubits will be able to break RSA encryption. Time is running out, a solution that can cover all these vulnerabilities is needed now, IBM is about to release there 300+ qubit quantum computer this year.
Core Benefits
Randomized Data Handshake (RDH) a specialized handshake that wraps around AES encryption. For the first time RDH allows AES to exchange its own session keys. It is a specially designed encryption for radio and other communications means which can be easily intercepted (i.e., wireless POS terminals in restaurants). RDH is intended to be used to encrypt the communications between a bank client and banking servers. This includes smart card POS terminal purchases, online banking, electronic wallets, bank terminals, etc. RDH exchanges only 100% randomized data, with the exception of a hashed or encrypted User ID, required for client database lookup. Using two separate pre-exchanged keys (totaling 2,304 bits) encrypted randomized data is exchanged allowing the sender and receiver (client and banking server) to not only mutually authenticate each others identities but also simultaneously indicate instructions (such as purchase with the checking or savings account). This includes “Tap” purchases. The first key is 256 bits in size, while the second key is 2,048 bits. With each transaction, a temporary session key of 256 bits is extracted from the second key. This means where limited intercepts of purchases is possible, it will be impossible to decipher the entire 2,304 bits of keys.
Ideal Customers
Businesses / Consumers (B2B2C)
Milestones
White paper written by polytechnic institute reviewing the Fintech application. Pen testing by leading company was unable to break the encryption. New detailed white paper has been submitted for peer review and publishing.
- Startup Pre-revenue 100%
- Startup Post-revenue $1 – $2M 0%
- Scaleup $2M – $10M 0%
- Scaleup $10M+ 0%
