Picking up a newspaper and turning on the TV, one is instantly confronted with news of yet another cyber hack. With cyber attacks headlining the news, millions of people are concerned with whether their personal information has been breached. These attacks are becoming more and more sophisticated and targeted, and are affecting both government and commercial sectors. Commercial companies are seeking technologies to prevent cyber breaches that were once considered only for government use. Escalating vulnerabilities are becoming more apparent within commercial companies; they need protection as much as the government.
According to ITRC Breach database, of the 424 breaches that have occurred this year 40.3% occurred within the business sector (retail services, hospitality, tourism, professional, trade, transportation, etc.). Roughly 9.8% of breaches were in the banking, credit and financial sector. The commercial space is significantly larger than government and seen as an easier target; as a result, many companies in this sector are looking for more robust technologies. One example of this is Westpac.
In June, Westpac announced its significant investment in QuintessenceLabs. QuintessenceLabs is waging a high-tech war against hackers with their quantum technology that encrypts confidential data. They use advanced engineering methods to generate “keys” that are truly random and therefore unhackable, as well as providing sophisticated key management solutions to enable pervasive and strong encryption. Westpac is using this technology to secure their employees’ devices and work, while exploring ways to secure its customer data. In the same month, QuintessenceLabs announced their partnership with cloud-based document and email management provider NetDocuments. QuintessenceLabs’ technology is being used to globally implement their new high security architecture in the cloud.
QuintessenceLabs has developed the data security technology that commercial companies want, to secure valuable digital information in-transit, at-rest or in-use. As well as quantum true random and advanced key management, QuintessenceLabs offers “unbreakable” protection for data on storage devices in uncontrolled environments, using a true one-time pad cipher and virtual zeroization. Currently at an advanced technology demonstrator, QuintessenceLabs’ second generation Quantum Key Distribution is the ideal secure means of distributing keys. With this technology, a true random key is generated and shared. Any attempt to intercept the key causes detectable variations in the quantum states carrying the key. Both the sender and receiver automatically know when an attack has been attempted so they can take mitigating action.
Security experts say that there are only two types of companies left: those who have been hacked and those who have yet to know they have been hacked. Innovative and emerging security technologies can significantly increase our ability to ward off cyber-attacks. Quantum cyber-security solutions, such as those offered by QuintessenceLabs, provide strong tools to move ahead of the attacks and protect our information from an imminent cyber breach.
- Quantum Computers Could Crack Existing Codes But Create Others Much Harder To Break (hplusmagazine.com)
- Quantum Cyber-Security with QuintessenceLabs (fedcyber.com)
- Quantum Cyber-Security with QuintessenceLabs (ctovision.com)