The Cyber Security Exposure
Many enterprises spent significant resources securing the perimeter of their networks as a result of high-profile cyber security breaches that occured in 2014 and 2015. But as a result of continuing digital security challenges and ongoing successful cyber attacks, experts are calling for a new approach to cyber security —one that is focused on securing data, which is where the true personal, commercial and industrial value lies. Extending existing cyber security technologies, like smart firewalls, intrusion and threat detection and prevention systems, including the recent trend to predictive models, will not solve the cyber security gaps that by some estimates are causing economic damage from cyber crime to grow from $3 trillion in 2015 to $6 trillion annually by 2021 (Cybersecurity Ventures, Dec 2016).
Given the significant increase in economic damage and the number of successful cyber attacks, it is obvious that current cyber security technologies and approaches are not sufficient to protect against these data breaches and theft — regardless of how sophisticated they appear to be. Experts now agree that it is impossible to prevent mega data breaches. One conceivable solution is to continue to build faster algorithms to be able to react quicker once a breach or hacker has been detected (MIT Technology Review, Jan 2017). However, data breaches and hackers take an average of 250 to 300 days to be detected. During this time:
Increasing and ongoing economic damage from cyber attacks and vulnerabilities is because other application security implementations are usually a fragmented patchwork of various point solutions: crypto protocols such as SSL/TLS, PKI and PGP, which provide end-to-end encryption but only for transport of data and no protection for storage or usage of data, which therefore must be supplemented by separate encryption for storage of data and a range of filter technologies to protect the network or perimeter like smart firewalls, intrusion and threat prevention systems, and anti-malware. Except these filters each fail 3% to 10% of the time for known cyber attacks and vulnerabilities and 100% of the time for unknown attacks and vulnerabilities. None of these work together seamlessly and because of this the security gaps between them are readily exploited.
The Validian Approach
Validian knows that as technologies evolve at lighting speed so do new vulnerabilities and more sophisticated cyber attacks. This greatly increases the threats to data resulting in increasing economic losses and loss of privacy. Further, the evolution of cyber security has failed to keep up and continues to comprise extensions of existing cyber security technological approaches that have proven to be insufficient in any combination.
The essence of Validian's technology assumes:
Accordingly, Validian extended its core technology to protect applications and the complete life cycle of data in all forms and stages, including access, retrieval, transfer, receipt, and storage as well as varying usage scenarios: creation, editing, modifying, opening on screen, reading, and manipulation. Validian protects applications and data on all devices, operating systems and technology platforms regardless of any type of cyber attack or vulnerability or if the host device or network has been hacked or improperly accessed, infected with viruses or malware, or otherwise compromised.
Given that time to market and costs of development and operations are critical, Validian also spent the time and the R&D effort to create a technology that integrates rapidly by any developer:
Technical Risk Has Been Solved
During Q4 2016, Validian completed the extension of its core technology, ValidianProtect, into three parts:
To enable high-scale, fault-tolerant deployments, Validian also completed the migration to Cloud, including for critical platform components, as well as to an estimated 85% of the migration to the remaining three horizontal technology platforms: Software Defined Networking (SDN), internet-of-things (iot) and Supervisory Data Control and Acquisitions (SCADA), each of which will be completed on a transaction by transaction basis to tailor to customer needs. Accordingly, the R&D has been completed and the technical risk has been solved.
During 2016, with the assistance of its Channel Partners, Validian built a growing sales pipeline and implemented the ability to scale quickly in response to generating sales, to deliver expediently on signed deals and to provide after sales support. Commercial roll out, cash flow and revenue generation have now commenced and are projected to grow during 2017.
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