International Business Machines Corp. (IBM)’s New Cloud Tool To Fight Against Data Breaches

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International Business Machines Corp. (NYSE:IBM) has developed an interesting Cloud-based service which might end the periodic data breaches and password hacks around the web which always freaks out the users. The service is called Identity Mixer and it prevents the hackers to access to your personal information like credit cards, passwords, names and age.

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An article on Mashable reported this news and said that International Business Machines Corp. (NYSE:IBM)’s crypto program will work as a third party interface between you and other service which you use daily like shopping websites, subscription based TV streaming websites. You will be able to use International Business Machines Corp. (NYSE:IBM)’s cryptoprogram in order to convey your personal information to the website or service.

For example, if you are making an account on Amazon, it will ask your personal information like credit card, passwords and age. Instead of giving this information to Amazon, you will use International Business Machines Corp. (NYSE:IBM)’s cryptoprogram as an identity card. Even if there is an attack on Amazon servers, you will not be harmed because the information is stored in Identity Mixer’s Cloud and not on Amazon servers. International Business Machines Corp. (NYSE:IBM) is using smart encryption based techniques to make it completely secure.

The source quoted Dr. Anna Lysyanskaya, a co-inventor of Identity Mixer, who said that the intent behind this service was to give the users more control over the information they give to the services over the web. The source claimed that Identity Mixer will work with payment services as well including Apple Pay. The International Business Machines Corp. (NYSE:IBM’s Cloud based service will be available for developers to use in software and apps.

As of June 30, 2014, Ken Fisher’s Fisher Asset Management owns over 18 million shares in Intel Corporation (NASDAQ:INTC).

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