Pareteum, the mobile Cloud Communications Platform provider, developed a new cloud security solution, for which its European operating subsidiary received a UK patent (GB2541449).
The new security solution uses pre-shared secret key authentication technology to enable a highly-secure and strong authentication between mobile devices and Pareteum’s Global Cloud Platform and other online services as well.
It provides secure access and identity validation for cloud services, as well as mobile devices.
“We are pleased to have been awarded this patent, which is representative of our rapidly growing intellectual property portfolio. The mobile services and application market has to adopt a security first strategy as the world’s data access becomes exclusively serviced through wireless connections,” said Vic Bozzo, CEO of Pareteum.
“Our product services roadmap strategy includes “insights,” predictive analytics, and blockchain enabled payment systems for which high levels of security and authentication are crucial,” said Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum. “Identity management and trustful transactions are the focus of all our service developments. Pareteum continues to cultivate partner alliances that enable us to provide single source solutions for our global customers.”
Pareteum, originally founded as Elephant Talk Communications in 2001, said that as they consider the new mobile landscape worldwide, and Pareteum’s capabilities and service developments in 2017, numerous opportunities exist for it in IoT, Smart Cities, AI and machine learning.
Last year, it added blockchain technology support to its cloud platform for billing and settlement services. The blockchain support helps customers to participate in the transformational ‘Digital Economy Monetization to the Cloud’, enabling them to accept and process payments in the form of cryptocurrencies including Bitcoin, Litecoin, Ethereum, and Airtokens.