Arab Today, arab today encryption companies rise as anxiety over data mounts
Last Updated : GMT 13:15:39
Arab Today, arab today
Arab Today, arab today

Encryption companies rise as anxiety over data mounts

Arab Today, arab today

Arab Today, arab today Encryption companies rise as anxiety over data mounts

New York - AFP

Investors are pumping millions of dollars into encryption as unease about data security drives a rising need for ways to keep unwanted eyes away from personal and corporate information. Major data breaches at Target and other retailers that have made data security a boardroom issue at companies large and small. And stunning revelations of widespread snooping by US intelligence agencies have also rattled companies and the public. For venture capital, that has opened up a new area of growth in the tech business. In February, Google Ventures led a $25.5 million round of venture funding for Atlanta-based Ionic Security, a three-year old company that works in encryption, which scrambles data before it is shipped or stored. Other encryption companies, including Toronto-based PerspecSys and San Jose, California-based CipherCloud, have announced major fundings. The funding rush could hearken a "golden age" of encryption, as one expert puts it. But the industry also faces barriers to a tool that until recently was not a hot commodity. Concerns about encryption range from practical challenges, such as the difficulty users have to search their encoded data, to government opposition towards encryption. "People are afraid of it because they don't understand it," John Kindervag, a vice president and principal analyst at Forrester Research But he called the wider use of encryption "inevitable, because there's no other way to solve the problem." Kindervag said the industry is between one and two years away from "some big revolutions" in the field. "It just needs to happen." But Venky Ganesan, a managing director with venture capital firm Menlo Ventures, believes major advances are further off. "Encryption slows down," Ganesan said. "Just imagine if every room in your house was locked and you had to open and close it every time you go in. You would be frustrated." Another problem is "the government is sensitive," said Ganesan. "They don't want encryption technology to be open so that anybody can use it, because their goal is to make sure they can always get access to the information." He said governments have frequently insisted that they be given a master key to decrypt files, Ganesan said. - Snowden seal of approval - The need for better encryption vaulted to the top of the tech industry's agenda earlier this month by fugitive intelligence contractor Edward Snowden, who last year exposed the massive spying capabilities of the US National Security Agency. Snowden urged industry leaders to make a "moral commitment" to safeguard customer data by integrating encryption into devices in a user-friendly way. The NSA and foreign intelligence services are "setting fire to the future of the Internet," Snowden said via video from Russia. "You guys are the firefighters and we need you to help fix things." Recent data security scandals underscore the new vulnerabilities as organizations process unprecedented amounts of data that are analyzed, shipped, stored in "the cloud" -- offsite commercial  servers -- and accessed remotely by mobile technology. It's a far cry from the days when security focused on safeguarding a stolen laptop. "It's on every corporation's and every government's mind how they protect their data and their intellectual property," said William Bowmer, a technology stock specialist at Barclays. Wall Street appears ready to commit more money to security companies as well. Shares of FireEye, which reportedly alerted Target to breaches in its security network even though the company did not take action, have more than tripled from the September 2013 IPO price of $20. Industry insiders see some encryption firms as possibilities for entering the market: Voltage Security, SafeNet, Protegrity and Vormetric Data Security. Voltage chief executive Sathvik Krishnamurthy described the market for encryption as "thriving and growing" and said the perception of government opposition to encryption is outdated. Encryption can be integrated into policies that incorporate the lessons of the Snowden revelations with the need to protect national security, Krishnamurthy said. Spying by authorities "has been going on forever," he said. "In any society where you think you've had privacy, you've been grossly mistaken. It's just a question of the degree to which you were clueless about Big Brother actually looking at everything you were doing." He called the NSA's sweep of data "really over the top." "Did we have to spy on Angel Merkel's emails? No." But the biggest problem with the NSA program was the lack of disclosure, Krishnamurthy said. Disclosure by the government of its program "will normalize the line over which we would no longer cross," he said. "If you have to answer for your actions, then you are more likely to be reasonable in your actions."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today encryption companies rise as anxiety over data mounts Arab Today, arab today encryption companies rise as anxiety over data mounts

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today encryption companies rise as anxiety over data mounts Arab Today, arab today encryption companies rise as anxiety over data mounts

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Writing's on the wall for Trump, Zuckerberg

GMT 09:05 2017 Thursday ,19 October

Writing's on the wall for Trump, Zuckerberg
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday