Wave Systems Introduces Virtual Smart Card 2.0

In an era of hackers becoming more common and skillful, breakthroughs in security technology are essential. Wave Systems has brought the world the latest of these advancements, a virtual smart card that replaces traditional smart card technology.

The use of a Wave Virtual Smart Card 2.0 brings all the security benefits of a smart card without the need for a physical object, which can be lost or stolen. From a centralized management server, Wave provisions virtual smart cards based on a Trusted Platform Module (TPM) security chip to a user’s device, which stores a unique device identity that is associated with all of that user’s devices. When a user enters their credentials, they must be associated with the TPM identity in order to gain access. In other words, a hacker would have to know the user’s credentials and use their device with the right TPM identity in order to be successful.

With this solution, a company’s IT department can remotely create and delete virtual smart cards, provide helpdesk-assisted recovery, configure PIN and card policies, view the status of virtual smart cards and enrolled certificates and generate reports for compliance. They are supported on laptops, desktops and tablets with TPM 1.2 or TPM 2.0.

The new development greatly enhances security as there is nothing physical that a hacker can steal, except the device itself, which although possible is significantly less likely and the hacker would still need the user’s credentials. In addition, a device is going to be missed much faster, and is much less likely to be lost. The solution all but eliminates hacker attacks from remote locations and makes the job of a physical intruder much more difficult.

Virtual smart card technology is also much cheaper. Many companies report that as many as 30% of physical smart cards must be replaced each year, and Wave says the entire solution will cost up to 50% of that system in addition to saving those replacement costs.

The Wave Virtual Smart Card 2.0 is available on Windows 7, Windows 8 and Windows 8.1 after a launch on July 22, 2014.