As businesses go forward and shift to digital solutions during the new normal, data protection is becoming a huge concern. Business software programs, apps, and websites contain a high volume of data that is vulnerable to any cybersecurity breaches. Hence, it’s crucial to protect the sensitive personal and financial data of customers and businesses.
In this article, you’ll learn the encryption trends that’ll keep data more secure.
1. Adopting Hardware Security Module Solutions
A hardware security module (HSM) is a dedicated crypto processor that protects the crypto key lifecycle. It acts as trust anchors to protect the cryptographic infrastructure of the most security-conscious organizations worldwide.
Cryptography refers to the process of converting plain text into incomprehensible text and vice-versa. It stores and transmits data in a specific form that only authorized people can access, read, and process.
Here are important things to know about HSM:
- HSM solutions protect business and customer data across different sectors. Protecting all financial transactions, internal data, and IoT products with HSM solutions is the latest trend in data security that implements encryption.
- HSM securely manages, processes, and stores cryptographic keys in a tamper-resistant device.
- HSM protects transactions, applications and identities, provisioning authentication, encryption, decryption, and digital signing services.
Small businesses, multinational corporations, and government agencies can use HSM solutions to keep digital data safe. Kickstart your encryption by looking for a hardware security module partner for your organization.
2. Multi-cloud Encryption Strategies
Organizations adopt multiple cloud strategies and the big challenge is protecting data. Encryption across private and public cloud and software as a service (SaaS) make up the latest multiple-cloud data encryption strategies.
The following are the benefits of multi-cloud encryption strategies:
- Applicable for big companies and corporations
- Suitable for organizations using cloud technology
- Suitable for businesses with an in-house IT team
3. Attribute-based Encryption
Attribute-based Encryption (ABE) provides big data cryptographic access control. It’s a public key cryptography algorithm in which the private key decrypts data based on certain user attributes, like the place of residence, kind of subscriptions, and type of account they have.
ABE provides secure data sharing of multiple users to attain both access and privacy control. However, this encryption trend still faces challenges when it comes to the Internet of Things (IoT).
4. Facial Recognition And Voice Biometrics
These encryption trends aren’t just available in smartphones. Facial recognition and voice biometrics securely identify people when accessing sensitive information. Gone are the days when a pin code or asking your mother’s maiden name are used as authentication methods.
Check the following advantages of facial recognition and voice biometrics:
- Distinctive individual identification
- High security and assurance
- Convenient and fast
- Non-transferrable because everyone has unique biometrics
- Spoof-proof because biometrics are hard to steal or fake
5. Blockchain-based Technology
The concept of blockchain technology can be applied to cybersecurity models, faking identification impossible. It’s a powerful tool for the internet of things. Storing transactions and data on the blockchain is more secure and transparent than paper or digital records. This data security trend strictly maintains the confidentiality of business data and customer information.
Check the following characteristics of blockchain-based security:
- Confidentiality: Blockchain technology security ensures user’s anonymity. The only link between users and their data is user keys.
- Data Integrity: Every block linked to close blocks use cryptographic hash functions because blockchains act as ledgers. When a transaction is recorded in the blockchain, the data can’t be altered and deleted. Changes made are new transactions and aren’t associated with the first recorded data.
- Availability: A large number of nodes make blockchain resilient even if some nodes are missing. Each node has a copy of the ledger distributed to users. In this way, the correct blockchain stays accessible to other users even a node is compromised.
Tokenization data security allows businesses to have Payment Card Industry Data Security Standard (PCI DSS) compliance. This reduces the amount of Primary Account Number (PAN) data stored in-house.
Tokenization offers the following benefits:
- Tokenization is a great step towards attaining zero payment fraud.
- The companies handle tokens rather than storing cardholder data, which makes a smaller data footprint.
- Tokenization creates straightforward payment experiences and highly satisfied customers.
- Tokenization reduces data breach risks and minimizes red tape.
- Tokenization drives the technology of payment services such as mobile wallets.
With the latest multiple-cloud data encryption strategies, organizations can benefit from public cloud and maintain control over private data at the same time. Facial recognition and voice biometrics make old authentication methods obsolete in the age of digital transformation. Blockchain security models also emerge as a strong encryption trend to consider for zero data copying.