The addition of MasterCard will help FIDO expand its standard to more types of transactions. The company’s experience handling the multitude of existing payments industry standards will also be valuable.
SAN FRANCISCO — MasterCard is joining the FIDO Alliance, signaling that the payment network is getting interested in using fingerprints and other biometric data to identify people for online payments.
MasterCard will be the first major payment network to join FIDO. The Alliance is developing an open industry standard for biometric data such as fingerprints to be used for identification online. The goal is to replace clunky passwords and take friction out of logging on and purchasing using mobile devices.
Apple’s new iPhone 5s smartphone has a fingerprint sensor, but the tech giant is not part of FIDO. However, Google is part of the Alliance, and devices running Google’s Android operating system will have fingerprint sensors by next year.
Dubbed as a “game-changer” despite being around on devices for years (Motorola Atrix anyone); a ‘paradigm’ shift in mobile payment security; and a revolution in handheld devices by any and all investors bullish of the stocks; Appl’s fingerprint-scanning TouchID is everything you want it to be – apart from secure. As Der Spiegel reports, the well-respected German hacker group Chaos Computer Club (CCC) has thrown a wrench in the works by bypassing the smartphone’s much-heralded fingerprint scanner just two days after launch. The CCC, as the clip below illustrates, successfully bypassed the biometric security system, called TouchID, using “easy everyday means.” So, the question now is – will the NYPD demand everyone downgrade their phones?
It is supposed to represent a major step forward in mobile phone security by replacing the password. But the fingerprint sensor on Apple’s new iPhone 5S has already been compromised just two days after it went on sale. The German hacker organization Chaos Computer Club (CCC) says it has successfully bypassed the biometric security system, called TouchID, using “easy everyday means.”
the CCC said in a blog post, it wanted to demonstrate how fingerprint biometrics is “unsuitable as [an] access control method and should be avoided.”
Such fingerprint technology has been around for a while — it was included as a feature on the Motorola Atrix smartphone, launched in 2011 — but TouchID has been reported as a significant step forward. That assertion is categorically denied by the CCC, with a hacker known as Starbug, who was responsible for bypassing the fingerprint security, saying: “In reality, Apple’s sensor has just a higher resolution compared to the sensors so far. So we only needed to ramp up the resolution of our fake.”
“It is plain stupid to use something that you can’t change and that you leave everywhere every day as a security token,” he said, referring to fingerprints.
You can’t make this shit up. Three minutes that will crush any illusions you might have of the masses rising up and shaking off the yoke of corporate fascism. The decades of mass media propaganda and dumbing down of the people through our government run public education system has succeeded beyond Edward Bernays’ wildest dreams. I give you the next head of the Department of Commerce:
Lowest labor participation in 35 years, 47 million people on foodstamps, and real incomes haven’t gone up in four decades, but idiots by the thousands will stand in line for two days to whip out their credit cards for a fucking phone that they can order on-line. We are so fucked. And most of these iMorons are Millenials.
“Think of how stupid the average person is, and then realize half of them are even stupider”
– George Carlin
SPIEGEL has learned from internal NSA documents that the US intelligence agency has the capability of tapping user data from the iPhone, devices using Android as well as BlackBerry, a system previously believed to be highly secure.
The United States’ National Security Agency intelligence-gathering operation is capable of accessing user data from smart phones from all leading manufacturers. Top secret NSA documents that SPIEGEL has seen explicitly note that the NSA can tap into such information on Apple iPhones, BlackBerry devices and Google’s Android mobile operating system.
The documents state that it is possible for the NSA to tap most sensitive data held on these smart phones, including contact lists, SMS traffic, notes and location information about where a user has been.
It was only a month ago when JPM’s Michael Feroli humorously predicted that Q4 GDP would be boosted by 0.5% due iPhone 5 sales, a comment which even the most clueless economists saw right through, and which we commented on as follows: “don’t laugh: yes, US GDP, not that of China where the iPhone is actually produced, but the US where the consumer merely incurs more record student loans to be able to afford it.” Well, in a prime example of goal-seeking data to fit reality, here comes that other quite humorous “economist”, Deutsche Bank’s Joe LaVorgna (recall that Joe is sadly a loser when pitted against the groundhog), who has come up with a slightly different solution: namely that the iPhone led to a drop in Q4 GDP. Step aside Bush, now everything (both good and bad) is the iPhone’s fault.
The above is derived from his discussion of today’s massive trade deficit surge, driven as we observed earlier, by a spike in imports: Continue reading »
Remember when less than brisk sales of the iPhone 5 after it was first unveiled (to the usual fawning media Borg collective ooh-ing and aah-ing) were blamed on “supply issues” even as “reputable” Wall Street analysts conducted channel checks which foretold of epic holiday sales and massive pent up demand. As it turns out the only commodity in short supply was, well, demand, particularly that coming from consumers, very much as we predicted during the last earnings report (which was merely the latest consecutive earnings miss in a row). And, as Reuters reports with its Friday night bombshell report, Apple has finally thrown in the towel on pretending there is a supply shortage and admitted there is simply not enough demand at the given price point, by proceeding to sell the margin flagship iPhone 5 at a third off the original price, at the bargain basement commodity expert Wal-Mart of all places. And not only the iPhone, but the Ipad too (we have no idea which generation is the latest one: the iPad 3, the New iPad, the iPad 4s, the iPad Mini, the MAXiPad, etc…) And just like that, the “niche premium” magic of the once uber-cool gizmo is gone, not to mention AAPL’s profit margins, very much as the stock price has been sensing over the past two months, during which time it lobbed off some $150 billion in market cap. And with the reflexivity of fad-ness, as long as the price of the stock is soaring for whatever reason, interest and demand in the product remains at virtually any cost. Sadly for AAPL bulls, the opposite is also true, as is being witnessed right about now. Continue reading »
A woman trying to buy too many iPhones at a New Hampshire Apple store and ends up being Tasered by police outside the store.Normally, when you hear screams outside an Apple store, it’s because, oh, the doors have opened and there’s a new gizmo for the insatiable.
Remember Michael Feroli? The JPM economist who “predicted” US Q4 GDP would be boosted by 0.5% due to iPhone sales (don’t laugh: yes, US GDP, not that of China where the iPhone is actually produced, but the US where the consumer merely incurs more record student loans to be able to afford it)? Well, the same JPMorganite has now cut his Q4 GDP expectation to 1.5% for all the same reasons why we penned the second Q3 GDP revision: namely ugly internals, a surge in hollow government and inventory contributions to “growth”, and a collapse in the purchasing power of the US consumer (who somehow is still expected to boost Q4 GDP with iPhone sales). And while there is no mention of the iPhone in his just released downward revision, he still believes the cell phone will provide a boost to Q4 GDP. In other words, of the 1.5% in GDP growth in Q4, the iPhone will account for 33% of this! One really can not make this up.
It seemed like a simple enough idea for an iPhone app: Send users a pop-up notice whenever a flying robots kills someone in one of America’s many undeclared wars. But Apple keeps blocking the Drones+ program from its App Store — and therefore, from iPhones everywhere. The Cupertino company says the content is “objectionable and crude,” according to Apple’s latest rejection letter.
It’s the third time in a month that Apple has turned Drones+ away, says Josh Begley, the program’s New York-based developer. The company’s reasons for keeping the program out of the App Store keep shifting. First, Apple called the bare-bones application that aggregates news of U.S. drone strikes in Pakistan, Yemen and Somalia “not useful.” Then there was an issue with hiding a corporate logo. And now, there’s this crude content problem.