Sep 9, 2019   SOURCE: BusinessWire

Aspire Ventures Launches Powch Verify, a Technology Solution to Enhance Security in the Shared Economy

Powch, an Aspire company, today announced the launch of Powch Verify.

Powch Verify provides a quick, easy confirmation that the person you’re looking at is the person they say they are, and it’s conveniently verified in the app you’re already using. When the driver, delivery person, or date arrives, the app automatically notifies you that their identity is confirmed. By using each person’s phone as a unique identifier, Powch can give people all the benefits and conveniences of gig economy services without enduring anxiety over their safety.

This solution will enhance security seamlessly and easily at a time when shared economy safety is undergoing greater scrutiny due to several recent incidents. The product shows early promise with a number of services and businesses in the broader gig economy.

“In our current shared service economy, consumers use gig economy platforms to perform tasks that frequently allow strangers into their homes or other personal spaces. Some companies are developing mechanisms to protect users, but the current fixes place too much burden on consumers. In reality, consumers rarely trade away convenience for security,” said Rosco Schock, CTO and Head of Product for Powch. “We need to meet consumers where they are. We need a two-factor verification technology that doesn’t put any extra burden on customers. This technology can verify another party without a hassle before we give up our personal safety.”

Powch technology leverages cryptography and existing mobile infrastructure to accurately deliver quick and consistent verification. Powch Verify uses a patent pending Proximity Detection Engine (PDE) that relies upon a multi-factor assessment executed in a matter of seconds to reliably ensure greater security for consumers and workers.

For service providers, Powch Verify is a simple addition to their existing technology. It’s patent pending and an efficient and affordable way to enhance user and worker security measures.

Powch executives are currently in conversations with a number of shared service providers and plan to implement the product into existing apps as early as late 2019.

Powch is an identity and data-security company founded in 2014. Powch securely enables transactions through a user’s mobile devices and provides immediate and secure access to the user’s information.