System and method for generation, storage, administration and use of one or more digital secrets in association with a portable electronic device

1. A system for generation, storage, administration and use of one or more digital secrets in association with a portable electronic device, the system compromising:

a highly secured memory in the portable electronic device, storing only one or more issuer keys;

an other device memory in the portable electronic device which is distinct from the highly secured memory and is not comprised of either a physical secure element or a microprocessor with a trusted execution environment;

a keystore implemented in the portable electronic device outside of the highly secured memory in the other device memory;

one or more cryptography applets implemented in the portable electronic device outside of the highly secured memory in the other device memory; and

a trusted intermediary module (ThIM) implemented outside of the highly secured memory in the portable electronic device, the ThIM establishes and manages a trusted secured communication conduit between the highly secured memory, the keystore, the one or more cryptography applets, and at least one third party application, wherein the ThIM polls the portable electronic device, the highly secured memory, the keystore, the one or more cryptography applets to determine a trust score, initialization cost, and transaction cost for each component in the portable electronic device, the ThIM providing a trusted third party application acceptable interaction parameters based on the trust score, the initialization cost, and the transaction cost, the ThIM managing trusted communications between the trusted third party application and the highly secured memory in accordance with the acceptable interaction parameters;

wherein each of the one or more issuer keys comprises a cryptographic key provided for use by said at least one third party application.

2. The system of claim 1 , wherein the highly secured memory is selected from the group consisting of a physical secure element and a microprocessor with a trusted execution environment.

3. A system for generation, storage, administration and use of one or more digital secrets in association with a portable electronic device, the system compromising:

a highly secured memory in the portable electronic device, storing only one or more issuer keys;

an other device memory in the portable electronic device which is distinct from the highly secured memory and is not comprised of either a physical secure element or a microprocessor with a trusted execution environment;

a keystore implemented in the portable electronic device outside of the highly secured memory in the other device memory;

one or more cryptography applets implemented in the portable electronic device outside of the highly secured memory in the other device memory; and

a trusted intermediary module (ThIM) implemented outside of the highly secured memory in the portable electronic device, the ThIM establishes and manages a trusted communication conduit between the highly secured memory, the keystore, the one or more cryptography applets, and at least one third party application, wherein the ThIM polls the portable electronic device, the highly secured memory, the keystore, the one or more cryptography applets to determine a trust score for each component, the ThIM allowing a trusted third party application to determine acceptable interaction parameters based on the trust score, the ThIM managing trusted communications between the trusted third party application and the highly secured memory in accordance with the acceptable interaction parameters;

wherein each of the one or more issuer keys comprises a cryptographic key provided for use by said at least one third party application.

4. The system on claim 3 wherein the acceptable interaction parameters may further include unique data provided by the trusted third party application to the ThIM.

5. The system of claim 3 , wherein the highly secured memory is selected from the group consisting of a physical secure element and a microprocessor with a trusted execution environment.

6. A system for generation, storage, administration and use of one or more digital secrets implemented within a portable electronic device, the system compromising:

a highly secured memory in the portable electronic device, storing only one or more issuer keys;

an other device memory in the portable electronic device which is distinct from the highly secured memory and is not comprised of either a physical secure element or a microprocessor with a trusted execution environment;

a keystore implemented in the portable electronic device outside of the highly secured memory in the other device memory;

one or more cryptography applets implemented in the portable electronic device outside of the highly secured memory in the other device memory; and

a trusted intermediary module (ThIM) implemented outside of the highly secured memory in the portable electronic device;

wherein the ThIM establishes and manages a trusted secured communication conduit between the highly secured memory, the keystore, the one or more cryptography applets, and at least one third party application; and

wherein each of the one or more issuer keys comprises a cryptographic key provided for use by said at least one third party application.

7. The system of claim 6 , wherein the highly secured memory is selected from the group consisting of a physical secure element and a microprocessor with a trusted execution environment.