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'E3: Aladdin HASP'

Aladdin has been sending out emails to E3 attendees all day. The product they’re pitching is HASP. From their HASP website the best I can determine is that it’s a hardware key or USB device that contains encrypted data that the program needs before it runs and/or a process running on the users system will decrypt critical program files using keys stored on the key. I didn’t look into it too much but of course, one must wonder…who is Heather Hacker (see ad), but more importantly, how exactly does HASP work?