[Editor's Note] Recently, as the Internet of Things and other network-connected environments are expanding, interest in security is increasing. In this context, Senstone, a domestic leader in authentication security, has won six awards at an international security awards ceremony. Senstone is continuing to achieve remarkable results in domestic and overseas markets based on its original technology of OTAC (One-Time Authentication Code) that never overlaps with other users even in non-communication environments. Accordingly, our magazine arranged an interview with CEO Yoo Chang-hoon of Sensestone to learn about Sensestone's key technologies and the latest trends in authentication security.

■ Please introduce Sensestone.

Senstone is a certified security company that has been recognized for both its technological prowess and growth potential, including winning first place in the 2020 Ministry of SMEs and Startups' K-Unicorn Project 'Baby Unicorn', first place in the EUROPAS 2020 Cybertech category, and being selected for the Cybersecurity Breakthrough Award 2020/2021 for two consecutive years.

In-depth discussions are underway with global companies in the finance, IoT, and defense industries based in Europe, the Americas, the Middle East, and Asia, centered around the global headquarters swIDch established in the UK.

Last year, starting with the electronic wallet service of Indonesian PG company DOKU, in addition to the electronic stamp business of the Indonesia Mint, the company was selected for the 'SMART Grant' program, one of the science and technology programs supported by the UK government, and is spurring its global business strategy by carrying out the 'Senior Fingerprint Recognition Payment Card Project', a financial innovation project for the elderly in the UK. In addition, in Korea, where it is not easy to introduce new technologies, the company is expanding its customer base by being recognized for its overseas performance.

■ Please introduce the main technologies of Sensestone.

Senstone possesses a source technology called OTAC (One-Time Authentication Code).r />
This technology, for which over 240 domestic and international patents have been applied for and registered, generates a dynamic code that changes every time in a device that is not communicating, and when this dynamic code is transmitted, it uniquely identifies the user without any duplication with other users.

OTAC is a technology that is similar to, but very different from, the existing OTP (One-Time Password). While OTP alone cannot identify users and can be duplicated, it can only be used as secondary authentication, whereas OTAC can identify users and perform secondary authentication at the same time with only a dynamic code, so it can be used in various fields with added security and convenience.

■ The importance of authentication security technology has been increasing recently. I would like to hear your views on the current market situation of authentication security technology and its future prospects.

Since 2011, we have been studying the top 10 IT and cybersecurity issues announced by global consulting firms every year.

Until 2014, IT issues and cybersecurity issues were different, but since then, IT issues and cybersecurity issues seem to be becoming nearly 80 percent identical.

That is, in many areas, authentication and security are becoming important issues in the process of becoming networked and automated through AI.

Additionally, due to COVID-19, the work environment is moving towards non-face-to-face and contactless work.

This is inevitable in an increasingly globalized business environment. The need for IoT will increase not only in everyday life but also in the business sector, and efforts to respond to authentication security issues that will arise as a result will also increase.

OTAC technology is expected to be used like oxygen in the field of authentication security because it can be applied to products, services, and solutions in any form in the form of an algorithm, and we plan to build various business models in the future to be used in this way.

■ In addition to security technologies in various communication environments due to IoT, security technologies in non-communication environments are also receiving attention. I'd like to hear about the pros and cons of security and technology trends in each environment.

Existing authentication security technologies have been focused on the financial or access control fields.

On the other hand, in a world transformed by digital transformation, the IoT market is expected to grow further.

In a world where everything is networked, security issues are not limited to individuals but can affect social systems as well.

The authentication security issue in the IoT market in the era of digital transformation is that it is becoming more dependent on networks and the authentication method is becoming centralized.

This is where I expect OTAC to differentiate itself.

OTAC will be the key to solving these problems by creating a decentralized dynamic authentication structure that reduces dependency on the network.

Additionally, OTAC does not require communication with a central server to generate authentication codes.

Therefore, it can be applied to various fields both online and offline.

In addition to financial services that require strong authentication technology, it can be applied to all businesses undergoing digital transformation.

Therefore, it is not limited to a specific country or scope of application and has infinite potential for expansion.

■ Senstone has been recognized for its capabilities through dozens of patent applications, not only domestically but also in global markets. I would like to hear the know-how on how Sensestone acquired these technological capabilities.

As of March 7, 2022, Sensestone has a total of 226 patent applications and 71 patents registered.

OTAC, the world's first one-way dynamic authentication technology from Senstone, is not an improvement or advancement of existing technology, but rather the result of an entirely new approach that no one has ever attempted before.

This spirit of challenging the unknown still remains intact in Senstone’s corporate culture.

Even now, Sensestone continues to challenge new things with the spirit that nothing is impossible in this world.

Just as everyone believed that Senstone's OTAC technology itself was impossible, the business it was creating with OTAC had to be something absolutely new.

The card tagging method used by Toss Bank for high-value remittances is the first case in Korea to support both Android and iPhone at the same time.

Going forward, Sensestone will continue to discover technologies and business models that the world has never seen before by first challenging and trying out ideas that many organizations and companies have not yet attempted.

■ Sensestone has recently been delivering news of various awards both domestically and internationally. I want to know what awards you have won and what your secret is for winning them.

Senstone has won awards in domestic and international security certification-related fields, including first place in the 2020 Ministry of SMEs and Startups' K-Unicorn Project 'Baby Unicorn', first place in the EUROPAS 2020 Cybertech category, and 'Certification Solution of the Year' at the Cybersecurity Breakthrough Awards 2020.

It was the first Korean startup to make it to the top 3 at Web Summit 2020, one of the Big 3 events in Europe, and was selected as the winner of the core category for two consecutive years at the CyberSecurity Breakthrough Award, one of the most prestigious international security awards ceremonies.

In addition, it was the first Asian security startup to be selected for the 3rd LORCA, a cybersecurity accelerator program supported by the global XTC, Accenture programs, and the UK government, and was also selected for the 1st Cyber Runway, a global accelerator program targeting promising companies in addition to awards.

The reason why Sensenstone can carry out various activities domestically and internationally can be seen as the unrivaled technological prowess of its original technology, OTAC, and its limitless business growth potential.

OTAC can be applied in various forms not only in the financial services industry that requires strong authentication technology, but also in all businesses and daily life where digital transformation is taking place, and guarantees the most powerful and secure identification and authentication environment.

■ Sensestone’s plans and goals for this year

The Korean market accounts for approximately 1% of the global cybersecurity market.

Sensestone goes beyond the domestic market Targeting the global market, which accounts for 99% of the market, the company has its headquarters in the UK and is carrying out various activities to gain recognition in that market.

Senstone's ultimate goal is to demonstrate that a Korean native authentication security company can succeed globally in the cybersecurity field.

■ Lastly, a word to the readers

The world we will live in from now on is one that no one has ever experienced before, so some will be afraid, some will be indifferent, and some will wait full of anticipation.

Ultimately, we have no choice but to experience the world ourselves, but I believe that even if it is a scary world or a world full of boredom, it can be transformed into a world full of possibilities depending on how we pioneer it.

Sensestone will continue to experience numerous challenges and go through many more failures and successes as it moves forward.

I hope that you too will watch Sensestone’s challenges and pioneer your own future.