In order to better protect information stored on smart cards, NLnet Foundation is giving Radboud University in Nijmegen, Netherlands more than $200,000 to develop an open source software model for the microprocessor cards, according to Computerworld UK.
The plan is to publish the code and research for peer review. Companies will then be able to license the products under the GNU General Public License.
One of the researchers goals is to use more complex encryption without having the transaction take longer. Typically, the more complex the encryption the longer then transaction take to process.
New security and systems are needed after the Mifare card was allegedly hacked by researchers. The Mifare classic chip has been used in up to 2 billion cards for building access and public transportation.
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