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This month, 11-year-old New York City girl Mira Modi launched a cyber-security business that helps the end user (that's all of us) with their lame, totally hackable passwords. For $2, her company Diceware will create a password so secure it can't be broken by any current technology and should be safe for the next 35 years.
Modi's cybersecurity focus is sort of the family business. Diceware is featured in her mom Julia Angwin's book, "Dragnet Nation: A quest for privacy, security, and freedom in a world of relentless surveillance." Her method relies on a password creation process that has been around for years, but takes some time to go through. She says that her mom was too lazy to go through all the steps, so she offered to do it ... for a price.
Then she had the business idea and set about for a launch.
Here's how Diceware's password creation works, according to her company's FAQ:
"You roll a die 5 times and write down each number. Then you look up the resulting five-digit number in the Diceware dictionary, which contains a numbered list of short words."
The passwords generated have the two basic characteristics that thwart hackers: they're unique and they contain "entropy," meaning it would take even a powerful computer a long time to guess it correctly.
For just 2 bucks but decades of security, Modi's business could protect everything from your savings to your iTunes to your Amazon account set to one-click.
Whether Dicewords will have an IPO remains to be seen. And Modi is learning about business as she goes. Her only prior experience turning a profit has been behind the counter of a homemade lemonade stand. She's already sold 30 passwords.