“A blockchain-based cybersecurity platform can secure connected devices using digital signatures to identify and authenticate them, adding them as authorized participants in the blockchain network and ring-fencing critical infrastructure by rendering them invisible to unauthorized access attempts,” writes Floyd DCosta, co-founder of Block Armour.
Over 45 billion IoT devices are expected to be connected by 2021, while the cumulative cost of data breaches between 2017 and 2022 is expected to touch $8 trillion
Cybersecurity challenges are getting bigger, bolder and more complex, while organizations continue to protect against tomorrow’s cyber threats with yesterday’s technologies. The dramatic increase in networked devices (IoT) has further complicated the situation.
A distributed blockchain network could pool together computing resources to bolster cyber-security. Once the service is decentralized, it becomes harder to identify a vector that attackers can use to take down the network. A Mumbai-based startup, Block Armour, isolates critical infrastructure in the network and provides secure access for authorized users.
According to a whitepaper by Deloitte on blockchain and cybersecurity, end-to-end encryption of data on a private blockchain may provide organizations with relatively high levels of protection when it comes to data confidentiality and access control. Mumbai-based Block Armour is one organization addressing this opportunity: It offers a product called Software Defined Perimeters, which blends private, permissioned blockchains with Transport Layer Security (TLS) and Software-Defined Networks (SDN) technologies.
Harnessing the potential of Blockchain and emerging technology, Mumbai-based Block Armour, launched in 2016, aims to disrupt cybersecurity. Blending cybersecurity insights, IT security best practices, and emerging technologies, Block Armour aims to provide a base for a new breed of identity management, data/information integrity, and IoT-related security solutions.
Block Armour leverages blockchain, SDP (software-defined perimeter) and transport layer security (TLS) technology to provide what the company calls a Blockchain Defined Perimeter (BDP), isolating critical infrastructure and providing secure access to authorized users and devices.
This Hot Tech Innovators report covers 15 innovative startups in the blockchain space that offer a cybersecurity-focused solution, for both consumers and enterprise. Blockchain’s foundation on cryptography makes it an interesting technology for new cybersecurity applications as well as cryptocurrency and IoT.
NASSCOM’s Data Security Council of India (DSCI) chose 9 startups for the Most Innovative Product of the Year at the Annual Information Security Summit 2017 to provide impetus to budding security product companies.
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