Tether CEO Unveils PearPass and Declares War on the Cloud
In his most recent social media post, Paolo Ardoino, CEO of stablecoin issuer Tether, said that it’s time to stop using the cloud to store passwords. Ardoino was alluding to yesterday’s big password leak from key IT platforms. Then, he revealed PearPass, a password manager that can be used locally.
The cloud has failed us. Again. 16 billion passwords just leaked. It’s time to ditch the cloud.
Ardoino
Cybersecurity Nightmare: Apple, Google, Facebook Among Victims of 16B Password Leak
It was disclosed on Thursday that 16 billion credentials from government services, social networking sites, Apple, Facebook, and Google had been compromised. This is thought to be the biggest data leak in history, per a Forbes report. Cybernews reports that specialists in online security have characterized the disclosure as a template for widespread abuse. Because of the disclosure, criminals might use the stolen data to launch phishing or hacking operations.
PearPass by Tether Aims to Eliminate Password Leaks With On-Device Storage
The CEO of Tether said that the company has been working on PearPass, an open-source, totally local password manager, in response to these security flaws in cloud computing. This implies that there will be no need for cloud storage, as all information, including encryption keys and passwords, will be stored solely on the user’s device or devices.
No cloud. No servers. No leaks. Ever,
Ardoino
In 2022, Tether, the company that issues USDT, the biggest stablecoin in the world, partnered with Holepunch and Synonym to introduce Pear Credit, a peer-to-peer loan platform. Whether PearPass will be connected to the P2P platform in any way is still uncertain.
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