Business Showcase: REMME, the distributed authentication that’s making the world a safer place
Describe the company – the elevator pitch …
Passwords are supposed to keep the bad guys out and the good guys in, but just trying that to the thousands of businesses that fall prey to cyber attacks every year. The spate of ransomware, malware and phishing attacks is showing no signs of abating. Surprisingly, 52% of organisations that endured a cyber attack in 2016 declared they weren’t making any changes to their security for 2017. REMME have got something to say about that.
The access management company are urging all enterprises to rethink their security practices – and what’s more they’re willing to lend a helping hand. Having concluded that passwords in their current incarnation are broken, REMME have set about devising a safer alternative – one that enables passwordless authentication, using the power of the blockchain to create a decidedly stronger alternative.
In a soundbite, what’s REMME all about?
Helping businesses and users secure their sensitive data by implementing an unbreakable yet user-friendly access management solution that eliminates passwords.
How are you different?
While other companies have latched on to blockchain’s potential for enhancing security and systems access, they’ve focused on identity-based solutions – REMME are using the technology to create a certificate management system that has no single point of failure. The REMME ecosystem, powered by certification nodes, also differs from existing products thanks to its distributed model which ensures the stability of the whole system. It’s based on REMME Core, which is fitted for enterprise clients, and uses a custom blockchain with Bitcoin anchoring. This is fine-tuned to provide constant prices, high throughput and compliance with state-of-the-art standards.
Why will you do well?
We believe REMME will do well because Identity and Access Management (IAM) is big business and serious market: last year, companies of under 1,000 employees budgeted an average of $1.6m for IAM, rising to $2.5m for companies of over 10,000. Blockchain is fast becoming the de facto means of decentralizing resources and bolstering security. We’re on course to become the industry leader for corporate access management solutions, bringing the advantages of blockchain technology to traditional companies.
— REMME (@remme_io) October 30, 2017
Where are you based?
The core team is based in Ukraine; this is where the idea of REMME was born and an early prototype developed. Our vision to operate globally, however, ensures our clients will hail from all territories and sectors, because the desire for watertight security is universal.
When was the company launched?
We came up with the idea of REMME in early 2015 following a series of cyberattacks that started hitting big Ukrainian companies. The growing level of insecurity at the time inspired us to start work on a solution that could protect sensitive data from cyber theft. At that point, a number of our team members had already worked on various blockchain projects, so we were familiar with the technology and the value it can bring to different spheres. Officially, REMME was launched in January 2016 when we presented our website to the market and began to involve companies in our first pilot program.
What have been your biggest wins to date?
We’re proud of developing a fast growing community of supporters and contributors who actively participate in the growth of the project. Without them, REMME wouldn’t have become as successful as it has in such a short space of time.
Another achievement is signing the memorandum about pilot project implementation with Ukraine’s state-owned company Ukrinmash. Information security is a critical task for the organization, the access to data has been always calling for special attention. It’s a matter of both corporate, as well as state secrets security. Put another way, the security of the Ukrainian sovereignty may depend on how secure the access to the entity’s internal data is handled.
Winning the hackathon at Microsoft Blockchain Intensive in June was also a real highlight, not just for the generous prizes that were awarded, but for the prestige and the opportunity to meet so many like-minded individuals who are passionate about blockchain.
— REMME (@remme_io) October 31, 2017
Who are you trying to attract to your product?
No company, no matter how tech-savvy its staff, can eliminate the possibility of human error. 78% of people claim to be aware of the risks of unknown links in emails, for instance, but some click them anyway. It only takes one mistake for an attacker to own your systems. REMME does away with all that, eliminating the single point of failure that can cripple any business.
We anticipate REMME attracting three primary types of users:
1) Website owners and web service providers, who could benefit from distributed authentication.
2) Corporate clients, who can use our technology inside their organisation for protecting employee access.
3) Internet of Things to secure device-to-device communication.
Companies of all sizes from all sectors would benefit from the secure access management product we’re developing.
Tell us about your team?
We number 8 full-time staff and around 10 more part-time experts and advisors. 2017 was a year of active growth for the REMME team and we expect a number of new hires as we roll out our project development roadmap.
Following our December pre-sale and public token generation event in February, we plan to expand our engineering team, open sales offices, build first-class customer support and marketing teams. Over the last couple of years we’ve built a community of those who believe in our ideas and share our vision and we look forward to welcoming these individuals to the REMME family soon.
What are your plans for the future?
We’re excited to be applying the finishing touches ahead of our token generation event which starts in February, with the pre-sale taking place in December. Contributors are invited to subscribe on crowdsale notifications and claim a stake in the decentralized platform we’re building.
After that stage, we’ll be rolling out the next phase of our pilot program and will be choosing a select number of businesses to put REMME to the test and see for themselves just how user-friendly and robust it is. Our name is a portmanteau of “remember me”, and we’d urge businesses that value their security to do just that and recall REMME. If it slips from their mind however, rest assured it’s a name that will be cropping up with increasing regularity in the coming months.
How can people get in touch with you?