A computer readable medium for activating a software application for execution on a designated computer, where the computer readable medium has stored thereon computer executable instructions for performing the following steps: computing an installation identifier reflective of the software application and the designated computer; receiving an activation code generated in accordance with the installation identifier and a blinding factor value; computing a first verification code as a function of the installation identifier; computing a trial blinding factor value; computing a decryption key as a function of the trial blinding factor value and the activation code; using the decryption key to decrypt a second verification code; verifying that the first verification code matches the second verification code; and, activating the software application for execution on the designated computer.