Snake Oilers #3: Bot prevention and distributed "crypto magic" credit card storage

An all Australian edition of Snake Oilers. Aussie snake oil is the best snake oil.
06 Nov 2017 » Risky Business

In this edition of Snake Oilers we’re taking a look at two Australian companies and their solutions: Kasada and Haventec.

Kasada’s product is a simple one – it’s bot prevention using proof of work and a couple of other things, and Haventech’s solution is a bit more out there.

They’ve got a couple of products. One uses device fingerprinting plus a secret for authentication, but they’ve actually come up with something else that’ll be really interesting to people in the payment card processing space.

Basically they’ve come up with a way to split credit card info into a few pieces so it can be stored in a distributed way. Part of the info with the user, part with the merchant and part with the processor. It’s a better approach than tokenisation, and will drastically reduce the liability and costs that comes with storing huge amounts of card data on the processor side. Oh, and they’ve solved the chargeback problem on that one too.

Links to the companies profiled can be found below. I hope you enjoy the show!