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- Title ZahariaDragos-GalileoMaster2007
- Released 26/10/2007 3:13 pm
- Copyright ESA
French inventor Zaharia Dragos won the Galileo Masters 2007 prize in the European Satellite Navigation Competition for his novel scheme to secure financial data transmissions against fraud. It combines the very precise time signal of the European satellite navigation system Galileo, with conventional encryption algorithms, to make the coding of financial transactions more difficult to break. For this idea Zaharia Dragos received the Galileo Masters 2007 award and a cash prize of €10 000. In addition, he will be given the opportunity to further develop his idea into a viable business with support from experts at the Sophia Antipolis incubation centre close to Nice in France.