Wave Announces Support for White House’s National Strategy for Trusted Identities in Cyberspace

Company Exhibiting at U.S. Chamber of Commerce in Washington, D.C., Today on how the PC Can Hold Credentials for Secure Access to Multiple Online Accounts—without Multiple Passwords

Lee, MA April 15, 2011 Wave Systems Corp. (NASDAQ:WAVX www.wave.com) announced its support for the launch of the Obama Administration’s National Strategy for Trusted Identities in Cyberspace (NSTIC). NSTIC outlines a series of recommendations for greater security and privacy in accessing online accounts and creating identities online – for consumers and businesses. The strategy was discussed via webcast this morning at the U.S. Chamber of Commerce.

Electronic commerce, infrastructure and services are the reality of the 21st century and are the foundation of the global economy. Yet cybercrime remains a pervasive problem, costing billions to businesses and individuals. Identity theft alone has affected an estimated 11.7 million individuals in the last two years, according to estimates from the Bureau of Justice Statistics.

“The release of the White House ‘National Strategy for Trusted Identities in Cyberspace’ will make it easier for consumers and business users to access Web services and conduct financial transactions – safely and securely,” said Steven Sprague, CEO for Wave Systems. “More than 400 million PCs today have built-in hardware security called a Trusted Platform Module, which serves as a secure vault to hold digital credentials. Instead of having to remember dozens of passwords, users can log into their device and their device logs them into their online accounts.” 

As part of the NSTIC launch, Wave will exhibit at the U.S. Chamber of Commerce’s “Hall of Flags.” Representatives of the company will demonstrate how the Trusted Platform Module (TPM) allows for seamless access to online accounts without inputting multiple passwords.

The TPM is based on published specifications from the Trusted Computing Group.

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About Wave Systems Corp.

Wave Systems Corp. (NASDAQ: WAVX) reduces the complexity, cost and uncertainty of data protection by starting inside the device.  Unlike other vendors who try to secure information by adding layers of software for security, Wave leverages the hardware security capabilities built directly into endpoint computing platforms themselves.  Wave has been among the foremost experts on this growing trend, leading the way with first-to-market solutions and helping shape standards through its work as a board member for the Trusted Computing Group. 

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Michael Wheeler
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mwheeler@wavesys.com