Steven Sprague, Co-founder and CEO of Rivetz, shares his thoughts on the importance of data with evidence as key to digital transformation
Digital transformation has been on the agenda of organisations for years, and it is crucial that leaders plan for and implement their transformation with security built-in by design. Amongst senior executives, there’s widespread recognition that the role of digital technology is shifting – from driving marginal efficiency to being a catalyst of innovation and disruption. This means that in the coming years, several decisions must be made to avoid or risk falling prey to competitors and disruptors. 85% of key decision-makers feel they have only two years to get to grips with digital transformation and 59% worry that it is already too late for them to adapt.
Data is the lifeblood of our digital society and will touch the value of every system from enterprises to smart cities, to digitally-driven consumers: data will power the future financial and payments networks supporting global trade world-wide.
In an age dominated by the consumer, implementing technology that can track, measure and respond to key shifts in consumer behaviour could well make or break a business. Automation and AI are supplementing the workforce to provide greater levels of efficiency but in general, are acting on data that might have been altered creating unknown risk. These new technologies are driving the increase in volumes of data and the importance of ensuring that the data is real.
The new systems and solutions deployed should have data with evidence built into the core of the architecture. Systems where policy and controls are applied before a transaction is sent. The data created and consumed should be easy to validate. The risks of fake data rise every day. Knowing the supply chain for data is critical and will help identify errors and assure bad or uncertain data can be remediated.
The investment in security continues to lag the market. Today the quality and reliability of decentralised data are very low, creating an unreliable and, potentially untrustworthy infrastructure. Data comes from everywhere, and the old trust models of centralised cybersecurity are no longer an effective tool. Simple messaging, e-commerce, critical infrastructure and global trade will all require a new architecture to produce higher-quality data, data with proof of intent and consent…Data with Evidence.
There is a huge shift coming. A shift from a centralised world of servers and passwords to a decentralised network built on the IDENTITY of the device and a secure message with proof of intent. The architecture of decentralised cybersecurity produces data with the evidence of the supply chain that created it. A new model has evolved where a device is registered with a service and then secure instructions/messages are sent to the service; transfer funds, create a message, lock the door, start the car. Data with evidence will be at the foundation of creating higher quality instructions and messages increasing the value of all digital systems.
Rivetz is built on the foundations of data and device security standards established over the last 20 years. Rivetz combines the technologies and standards of Trusted Execution, Global Platform, Trusted Computing, NIST Information Assurance, Payment Security Directive 2, GDPR and many others.
Rivetz has developed and patented the systems for decentralised cybersecurity by combining the industry standards, the innovation of blockchain technologies and the Zero Trust Architecture for policy to enable the highest quality data. Data with proof that the policies and controls were verified before the signing of the data with a private key. Proof the device executing the transaction is operating in a measured condition and proof the operator consented to the information provided.
Rivetz is a “First-mover” with services and capabilities that leverage the Trusted Execution Environment (TEE), already available on hundreds of millions of existing devices. By providing a vault to isolate and protect keys and encrypted material from apps, malware, users, and hackers, Rivetz ensures a truly safe experience for accessing all digital services, thus, maximising the quality and value of the provider-to-subscriber relationship.
The Integration of Trusted Computing standards and the billions that have been invested in the embedded hardware offers a set of global industry standards and vendor-neutral solutions to address the challenges of decentralised security.
Rivetz has developed, successfully deployed, and is poised to commercialise technology that allows application developers and service providers to easily, quickly, and inexpensively take full advantage of the benefits of the vault-like capabilities of the TEE to enable maximum cybersecurity with a transparent, secure, safer and more enjoyable user experience for any app.
Rivetz is at the forefront of the dramatic shift from users employing dozens of usernames and passwords to a device-based identity and capabilities model for connecting the online subscriber, which will increase the value, trustworthiness and quality of the subscriber to the service.
It is time for a Cybersecurity REBOOT
Decentralised cybersecurity a modern architecture that is built on the foundations of Trusted Computing, blockchain and Zero Trust working together to provide high-quality data that does not rely on network security. A model where data has evidence of the controls applied and the verifications performed. A model with privacy and confidentiality built-in. But most importantly, a model that is simpler for the user to operate.
Decentralised security is built with the owner of the data at the centre assuring the controls and the evidence are controlled by the owner of the data. Whether the owner is a global enterprise or a mum at home.
Billions have been invested in the infrastructure of decentralised cybersecurity. Technology is already shipping in millions of devices; standards have been created and solutions are emerging. The new markets of blockchain, the Internet of Things (IoT) and messaging are prime opportunities to develop, explore and invest in decentralised cybersecurity. Unlocking the value created by higher quality data and more valuable subscribers.
Please note: This is a commercial profile