Sam Shawki, CEO at MagicCube, said his company’s virtual TEE (vTEE) was designed to meet EMVCo specifications and provides hardware-grade security without relying on hardware. He cited the following additional benefits of the platform:
- Consumer security: vTEEs can be monitored remotely for suspicious activity and can push updates or disable devices when attacked.
- Device flexibility: vTEE solutions are easier to deploy and manage than hardware devices.
- Device isolation: vTEEs create an emulated device within an application, similar to isolated hardware solutions. Unlike hardware, their feedback loops and remote administration services monitor and push updates to the vTEE, even if host devices and OSs are not being updated by vendors or hardware manufacturers.
- Reduced costs: Reducing costs of financial applications by not being device dependent.
"MagicCube’s sTEE platform eliminates the need for a special chip or chip partition and the platform has a wide range of uses," Shawki said. "Next-generation vTEEs and SBMP solutions protect mobile and IoT devices that can’t be secured through legacy solutions."