Passwords are far from dead – thanks to the Internet of Things, the traditional authentication mechanism will explode in the next decade.
By 2020, the exchange of data between systems will require more than 300 billion human and machine passwords to authenticate, according to a new report out today that concludes that the growth of internet of things (IoT) devices and online accounts will drive this password explosion.
In spite of some hopeful technologists’ predictions of a password-free future, the report’s authors posit that this won’t come to fruition anytime soon if at all. And in the meantime, they believe the password situation will continue to mushroom.
“Passwords are not dead, in fact, the footprint of passwords will significantly grow over the next four years,” says Joseph Carson, a cybersecurity expert with Thycotic, which with Cybersecurity Ventures co-authored the report.