How to Mitigate the Effects of Quantum Computing on Business Data Security

Article by Amanda Prelich

On Business Data Security

A quantum computing future promises to provide answers to our most complicated questions by solving complex problems at excessive speeds. Businesses will experience significant improvements in efficiency and operational costs, improved cybersecurity, and significantly improve machine learning and AI. However, the same technology that will lead to these advancements in AI as well as eradicate cancer, provide clean energy, and increase optimization will take today’s encrypted data and decrypt it in minutes, exposing sensitive business information

Data security should be front and center for businesses today. Unfortunately, it’s often an afterthought that exposes businesses to costly data breaches. Cybersecurity has long been an expensive challenge for businesses. Estimates put the cost of cybersecurity damages to reach $6 Trillion annually by 2021. With the coming threat of quantum computing, those costs could skyrocket.

Today, the energy sector, healthcare, and global infrastructure are all at risk to malicious actors that seek to take advantage of vulnerable access points. To be proactive in their security protocols, organizations should attempt to identify any weak areas of their systems that may be targeted by those who plan to steal sensitive information or disrupt operations for personal gain.

Unfortunately, today’s businesses are not always properly equipped with the means to do this and as a result, direct losses due to ransomware attacks are predicted to exceed $265 billion by 2031.

Dragonchain offers businesses six tools to secure their business systems from today’s bad actors and be ready for when quantum computing goes mainstream.

Cybersecurity Solutions Now and for the Future Dragonchain takes an architectural approach to security by leveraging a platform of blockchains and advanced capabilities to secure business data. We offer businesses a combination of data segregation, data mirroring, disaster recovery systems, embedded quantum encryption, smart contract gated data access, and advanced identity system to mitigate the risks of sensitive information being exposed or captured by unauthorized parties. This is the holistic approach businesses must take to reinforce vulnerable access points both inside and outside of their organizations to stay ahead of bad actors.

Data Segregation

Dragonchain offers a hybrid blockchain to mitigate risks associated with data breaches. Sensitive data is secured at the business level where the business can selectively choose what data to distribute and to whom. Since sensitive data from every transaction remains with the business, it limits the attack vectors during the verification process. Only proof of the data is sent for decentralized verification leaving the private and proprietary data secured by the business and reducing the risks associated with exchanging unnecessary data. This type of data segregation allows the system to be GDPR, CCPA, and HIPAA compatible and safeguards personally identifiable information (PII) from end to end.

Data Mirroring and Disaster Recovery Dragonchain offers a data mirroring and disaster recovery system for immutable proof of the state of data at any point in time and allows an organization to automate data integrity verification and restoration. This allows a customizable approach to let the business have the assurance that their data is safe even if an attacker compromises their systems or requests a ransom to return or decrypt stolen system data.

Embedded Quantum Encryption

We already know data segregation helps to limit the amount of data being exposed (with or without permission). With the use of olymorphic RNG-based quantum encryption and signing capabilities integrated at the core of our hybrid blockchain architecture, an Enterprise can secure its sensitive data with strong and efficient quantum-safe encryption at rest and in motion.

If the unthinkable were to happen and a data breach were to occur the business could still provide proof of data states so that users of said data would know it’s been compromised. Through the use of our patented interoperability technology, businesses can use our proprietary quantum encryption technology or they can integrate their preferred method, including a combination of encryption methods.

Smart Contract Gated Data Access

Smart Contract Gated Data Access requires users to access all create, read, update, and delete (CRUD) data through the use of smart contracts. Every access event is on-chain and includes full authentication and authorization capabilities. Access controls are flexible and can be either key based or use a traditional authentication process. These smart contracts can stipulate who is allowed to access the data, what criteria they must meet if any, and what operations are allowed to them.

Advanced Identity

Advanced Identity for Businesses and Organizations Businesses and organizations will find enormous protection against internal and external data breaches with the use of an advanced identity system. By removing the storage of sensitive information, the system can decrease the risks and liabilities that routinely come with a breach of identifying data.

Advanced identity systems also allow businesses to streamline Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures to prove anti-fraud and regulatory compliance.

Advanced Identity for Internet of Things (IoT) and AI With the sheer number of IoT devices in use today and AI quickly becoming a reality, proof of identity for every digital device is crucial. Any connected device offers an open vector for bad actors to access sensitive information. Advanced identity technology can be used to prove any digital device is as claimed thereby limiting fraudulent devices from being used to gain access to connected systems.

Human Behavior Marketplace AI

In the end, sometimes it comes down to human behavior. Dragonchain leverages human behavior to incentivize employees and partners to follow a workflow process such as security best practices. The system can combat organizational and team inefficiencies and improve data integrity.

Additionally, we offer a comprehensive system to identify and protect against insider threats such as sabotage, fraud, intellectual property theft, espionage, and other externally sourced manipulation of behavior.

Combined with Dragonchain’s patented interoperability and patented scalability technology these tools allow businesses to capture and secure copious amounts of data with already in use business systems and IT personnel to provide on-chain proof of every (CRUD) operation.

Every transaction recorded on-chain comes with measurable proof of immutability and allows businesses to retroactively access historical data that they may not have thought important at the time it was recorded and gives businesses the ability to prove every data interaction and verify a complete chain of custody on all data items and events.

Overall, the negative effects of quantum computing on businesses are not insignificant, but they are not insurmountable either. As with any new technology, there are risks and challenges that businesses must navigate. By understanding these risks and taking steps to mitigate them, businesses can harness the power of quantum computing for data integrity and gain a competitive edge in their industry.

The Most Secure and Flexible Blockchain Platform on Earth Dragonchain is an enterprise and start up ready platform to build flexible and scalable blockchain applications.
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