Public-key cryptography in the context of Cryptographic key

Banking secrecy, alternatively known as financial privacy, banking discretion, or bank safety, is a conditional agreement between a bank and its clients that all foregoing activities remain secure, confidential, and private. Most often associated with banking in Switzerland, banking secrecy is prevalent in Luxembourg, Monaco, Hong Kong, Singapore, Ireland, and Lebanon, among other off-shore banking institutions.

Otherwise known as bank–client confidentiality or banker–client privilege, the practice was started by Italian merchants during the 1600s near Northern Italy (a region that would become the Italian-speaking region of Switzerland). Geneva bankers established secrecy socially and through civil law in the French-speaking region during the 1700s. Swiss banking secrecy was first codified with the Banking Act of 1934, thus making it a crime to disclose client information to third parties without a client's consent. The law, coupled with a stable Swiss currency and international neutrality, prompted large capital flight to private Swiss accounts. During the 1940s, numbered bank accounts were introduced creating an enduring principle of bank secrecy that continues to be considered one of the main aspects of private banking globally. Advances in financial cryptography (via public-key cryptography) could make it possible to use anonymous electronic money and anonymous digital bearer certificates for financial privacy and anonymous Internet banking, given enabling institutions and secure computer systems.

The FIDO (Fast IDentity Online) Alliance is an open industry association launched in February 2013 whose stated mission is to develop and promote authentication standards that "help reduce the world’s over-reliance on passwords". FIDO addresses the lack of interoperability among devices that use strong authentication and reduces the problems users face creating and remembering multiple usernames and passwords.

FIDO supports a full range of authentication technologies, including biometrics such as fingerprint and iris scanners, voice and facial recognition, as well as existing solutions and communications standards, such as Trusted Platform Modules (TPM), USB security tokens, embedded Secure Elements (eSE), smart cards, and near-field communication (NFC). The USB security token device may be used to authenticate using a simple password (e.g. four-digit PIN) or by pressing a button. The specifications emphasize a device-centric model. Authentication over an insecure channel happens using public-key cryptography. The user's device registers the user to a server by registering a public key. To authenticate the user, the device signs a challenge from the server using the private key that it holds. The keys on the device are unlocked by a local user gesture such as a biometric or pressing a button.

A digital signature is a mathematical scheme for verifying the authenticity of digital messages or documents. A valid digital signature on a message gives a recipient confidence that the message came from a sender known to the recipient.

Digital signatures are a type of public-key cryptography, and are commonly used for software distribution,financial transactions, contract management software, and in other cases where it is important to detect forgery or tampering.

In cryptography, a shared secret is a piece of data, known only to the parties involved, in a secure communication. This usually refers to the key of a symmetric cryptosystem. The shared secret can be a PIN code, a password, a passphrase, a big number, or an array of randomly chosen bytes.

The shared secret is either shared beforehand between the communicating parties, in which case it can also be called a pre-shared key, or it is created at the start of the communication session by using a key-agreement protocol, for instance using public-key cryptography such as Diffie–Hellman or using symmetric-key cryptography such as Kerberos.