Cloud-MD is Developing a New Security Solution for Smart Chip Credit Cards
Nevada (PRWEB) June 11, 2014 -- Cloud Medical Doctor Software Corporation (Cloud-MDs) (NSCT), a leading provider of “Cloud Based” Medical Practice Business Operations solutions and Billing Services for the Healthcare Industry and a provider of Digital Electronic Security (DES) solutions for all industries announced today that it is developing a security solution for smart chip credit cards using new data-at-rest and data-in-motion technology and completing final research on a new type of morphing hardware solution. All of these advances are based on its CipherLoc technology set.
Smart chip credit cards, which are a part of the EMV (Europay, MasterCard, and Visa) credit system, have been promoted as the safer alternative to magnetic stripe cards. Even though it’s expensive for merchants to replace magnetic swipe systems and ATMs and produce the cards, change is inevitable and it is expected that by 2015, this change will begin in the U.S.
Previous versions of EMV smart chipped cards have weaknesses that can potentially be exploited, such as large PIN harvesting schemes. However, on the whole, losses due to credit card fraud have decreased dramatically since EMV has become entrenched in Europe.
By basing EMV chipped credit cards on newer, more sophisticated CipherLoc software technology that involves securing data-in-motion and data-at-rest and deploying a new CipherLoc hardware technology known as DPR-LR, Cloud-MD will be able to provide a solution to the credit card industry that truly offers a secure platform from which to transact electronic business. This more sophisticated approach to securing electronic transactions completely eliminates any known type of previously successful attempt by hackers and thieves to harvest chipped information previously considered secure. This includes the above mentioned PIN harvesting schemes and “skimming”, which is when an identity thief sets up a card reading device where customers generally swipe their credit cards, like gas station pay stations or retail stores. As the recent Target incident shows, all it takes is one swipe for your information to be compromised and stored in the skimming device.
Mr. Michael DeLaGarza, CEO of Cloud-MDs stated, “This series of advancements will help form the foundation for both current and future CipherShop products and capabilities. This announcement by our CipherShop division adds another essential component to our core capabilities as a company and will strengthen our science and engineering foundation as we significantly advance the state-of-the-art in commercially available, secure, digital communications.“
For further information about Cloud Medical Doctor Software Corporation go to http://www.cloud-mds.com or mdlg(at)cloud-mds(dot)com.
Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Cloud Medical Doctor Software Corporation (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) sell its software; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at http://www.sec.gov under "Search for Company Filings."
Michael DeLaGarza, Cloud-MDs, http://www.cloud-mds.com, +1 702-818-9011, [email protected]
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