Authentication & Security

3 "TechCrunch Disrupt NY" Companies for Payments & Commerce

MEDICIFounder and Chief Strategy & Innovation Officer

ShoCard:

Startup battlefield contestant ShoCard has launched a digital identity card that stores the identity of its users in the bitcoin blockchain to make the authentication process simple and secure. ShoCard is a virtual identity card that can be created and manipulated only by the user.

Creation of ShoCard begins with the scanning and signing of a user’s identity document followed by sealing of the record. ShoCard’s mobile app will generate a private and public key to seal the record. It will be encrypted, hashed and sent to the network of communicating nodes in the bitcoin software for later use. After the initial creation process, users can access the ShoCard app to retrieve the information.

“Sealing” and “Certifying” are two important concepts for ShoCard. Sealing is a process of hashing and encrypting the ShoCard data and storing it in the blockchain. Once it is sealed in the blockchain, the data becomes a permanent record. If required, the user can change the ShoCard, re-seal it and create a new blockchain record. The information stored in the blockchain will be an indecipherable hash that can only be unlocked with the user’s private key.

“Certifying” is an acknowledgement process wherein a certifier acknowledges the accuracy of the user’s ShoCard. This helps in the one-stop authentication process in a transaction, avoiding the need to show any other document for evidence.

Cloudwear:

Cloudwear is a startup that operates in the online security space. Cloudwear's advanced fraud-detection algorithms will alert users in the case of fraud. The payments sector has a great need for digital solutions to prevent online fraud. In the recent past, we have come across numerous card compromise cases that have occurred in the digital world.

The startup helps in preventing fraud through its breakthrough location technology. It allows verification of all traffic as it flows through the enterprise's intranet to protect against VPN tunneling and more.

Cloudwear’s location features will allow users’ to grant access only to trusted counterparts based on their location while blocking any others. It also allows the user to filter the selected counterparts from the entire country or by a specific floor in the building.

Cloudwear

Paribus:

Paribus is a startup that wants to help online shoppers get their money back when prices drop. Paribus will track the price changes associated with customers’ online purchases—when the price drops from the actual purchase price, the company files a claim on behalf of the customer by following the specialized procedures of the store.

Initially, users are asked to authenticate their email providers like Gmail, Yahoo Mail, Hotmail, or iCloud from the Paribus website. This allows the Paribus system to scan users’ inbox for the receipts associated with their online purchases.

Paribus co-founder and CEO Eric Glyman states that, “The idea is to basically offer a set-it-and-forget-it type of service for online shoppers.”

Paribus is able to track and price match e-commerce purchases from 20 retailers, including Amazon, Best Buy, Walmart, Target, Bloomingdale’s, Macy’s, Bonobos, J.Crew and others. Price tracking will be a continuous process once users authenticate their online accounts for the first time.

Amit Goel

MEDICIFounder and Chief Strategy & Innovation Officer

“Amit Goel is the Founder & Chief Strategy & Innovation Officer for MEDICI. Amit’s vision is to build a strong FinTech market network that involves financial institutions, banks, startups, investors, analysts & other key stakeholders across the ecosystem – helping each one of them in a meaningful way by removing the asymmetry of information and providing a platform to engage & transact.\ \ Amit is passionate about bringing actionable FinTech-focused insights, innovative products & services for the FinTech ecosystem. Some of his work involves startup scores, bank scores/assessments, predictive viewpoints & other innovations that have helped MEDICI’s customers and the ecosystem. He has been named amongst the Top 100 FinTech thought leaders/influencers in the world & Top 10 in Asia multiple times by reputed agencies, consulting firms as well as financial institutions. Amit has built MEDICI (formerly LTP) as a new-age, tech-enabled advisory/research firm, which is now considered the #1 global research & innovation platform for FinTech in the world.\ \ Amit has been writing pioneering viewpoints on financial technology space that have been ahead of the curve since 2010. His data-driven predictions have helped the customers as well as the ecosystem. His past work experience includes a strong background in strategy & market analysis and advisory to clients (from big business houses to Fortune 500 firms) in payments, commerce, financial services & IT/technology. In the past, Amit had also founded a successful consulting & research practice called GrowthPraxis and has worked at Boston Analytics, Frost & Sullivan, and Daimler Chrysler in strategy & research.”