Cloud computing offers undeniable opportunities, from providing useful data anytime anywhere, to an ability to analyze humongous amount of data within minutes. In the world as we know it, big data and cloud computing have already sinked their teeth into almost every sector, especially the BFSI industry. However, data security remains the primary hurdle that must be overcome for excellent results from big data and cloud in the future.
NuCypher aspires to find a solution to data security via a comprehensive encryption layer that is compatible to all platforms including Spark, Hadoop, and Kafka, and offers services both on-premise and in cloud.
First to Introduce Proxy Re-encryption to Big Data
In an environment wherein critical data gets distributed across thousands of machines, including public and private platforms, security is a challenge. NuCypher has built a proxy re-encryption platform that recognizes the importance of specified data from common ones and hence preserves it more carefully, unlike other competitors such as HP’s Protegrity and Voltage who use tokenization method for all types of data. The startup company reasons that certain types of data, if masked with tokens, open the window for statistical attacks. Although proxy re-encryption is very much existent in cryptography, NuCypher are among the first ones to apply it to big data for business, according to co-founder MacLane Wilkinson.
A Boon for Banks and Healthcare Industry
Targeted customers for NuCypher are the banks and the healthcare companies that need ensured compliance with regulations for the processing of sensitive data. Regulations such as HIPAA and European Union’s General Data Protection Regulation (GDPR) have set strict guideline to protect citizen’s personal data. The telecommunication sector is another prospect market NuCypher are expected to target in the near future.