Impact of Cyber Theft

The Authentication & Encryption Problem

Losses due to cyber theft are conservatively estimated at $375 Billion US dollars as of June 20141. Expectations are that the number will only grow. The cost of cybercrime includes the effect of hundreds of millions of people having their personal information stolen—incidents in the last year include more than 40 million people in the US, 54 million in Turkey, 20 million in Korea, 16 million in Germany, and more than 20 million in China. One estimate puts the total at more than 800 million individual records in 2013. This alone could cost as much as $160 billion per year. Criminals still have difficulty turning stolen data into financial gain, but the constant stream of news contributes to a growing sense that cybercrime is out of control2.

Implementations of our simple to use technologies can significantly decrease those figures. A 1% decrease would mean a difference of $3.75 Billion US dollars. Qondado’s technologies will deliver a significant drop in cyber theft due to problems with authentication or username/password theft as well as an overall lack of individual file or folder encryption at rest.

Platform by the Numbers

KodeKey™ runs on Apple or Android devices (smartphones or tablets). 3There are currently 2.6 billion smartphones with 6.1 billion anticipated by 2020. Each of these devices will be available to any organization to act as an authenticator.

Year 2015 2020
Number of Smartphones 2.6 Billion 6.1 Billion

All new smartphones from Apple, Samsung as well as Motorola contain fingerprint readers with that number projected to grow to over 4770 million Smart Mobile Devices with integrated fingerprint sensors by 2020. The market for KodeKey™ is essentially any company with a need to apply an authentication method that better secures access to their critical data as well as eliminate the need for usernames or passwords (Fortune 1000+). 5There will be over 3 billion biometric payment users by 2020 and KodeKey is positioned to enable biometric authentication for payments or general authentication for these projected users. Kodekey can also be deployed without biometric authentication so as to capture the full market of 2.6 billion plus smartphone users.

TypeLocker™ is available as a Google Chrome extension. There are approximately 750 million Google Chrome users according to the 2015 Google I/O keynote address. The chrome extension version is targeted at individuals and small businesses and will provide the platform through which documents and sensitive information can be exchanged between individuals and/or their professional service providers such as Attorneys, Accountants, Physicians, etc. The only requirement is a running version of Google Chrome which is freely available globally. There are over 19,000 businesses testing or using Android for work6.

Windows is the predominant business computer operating system and TypeLocker Pro™ is a Windows desktop application available for corporate users. Windows users will enjoy the same benefits of the Google Chrome extension users with the added ability to create encrypted files for storage or share while on a corporate network and does not require Google Chrome. There are 1.5 billion Windows users7.