The world is moving towards a secure environment, along with data transactions being more secured. Many companies in India have now started adapting Blockchain technology to secure their business transactions. Since every new technology can be vulnerable to advanced threat, Blockchain security concerns are a roadblock for its adaptation in India.
Global Business Ecosystem is becoming digital as customers demand more intuitive, secure, real-time, integrated solutions and services. The Companies should expand their addressable market and deliver greater value in terms of value proposition and digital customer experience. Disruptive Technology like Blockchain is emerging as a tool around the world to redefine the framework under which information can be used for transactional purposes. Blockchain technology will revolutionize and secure all kind of transactions in sectors like PSU, Banking, Power, Education, Healthcare and other industries that deal with secured data transactions. Blockchain technology can provide smart digital solutions that will address the challenges faced by India in its digital transformation.
Security on Blockchain Technology
Every new technology adaptation has some roadblocks, the biggest Blockchain technology concern is its Security and vulnerability to advanced threats in near future. Guardtime – World’s Leading Blockchain Company (by Headcount, Revenue and Customers) has successfully managed to keep data safe on blockchain. Guardtime’s KSI (Keyless Signature Infrastructure) a data centric security technology, waives off the need to use keys for verification. KSI technology employs one-way hash functions to generate digital signatures that can verify the time, integrity and attribution of origin for electronic data.
In Blockchain since the data is distributed among nodes throughout the system, if someone tries to alter the data, the systems does a quick analysis of whole network of nodes and compares it with metadata packet which then excludes any that don’t match up. In short if someone wants to wipe out or alter the data on blockchain they need to destroy or alter every single node separately. Even if one node on the entire blockchain network runs with correct data, the whole data can be restored, inspite of all other nodes being compromised.
To offer Guardtime’s KSI solution in India, Guardtime has partnered with Inspira Enterprise – Leading IT Solutions Provider in India which caters to clientele from Government, PSU, BFSI, Healthcare and Enterprise verticals. Apart from Blockchain, Inspira Enterprise’s other Center of excellence includes Networking, Unified Communication, Cloud, IT Security, Healthcare, Smart City & Software Solutions in India. Inspira follows a unique quality excellence model for diverse lines of business, benchmarked to international quality standards – ISO 27001:2013, ISO 9001:2008 ISO/IEC 20000-1:2011 & ISO 27001:2013 (Security Operation Center (SOC) & SOC Services). Inspira is a CMMI Level 3 certified organization, which makes it the best in the Industry.
The joint-venture brings together Guardtime’s knowledge and Inspira’s proven technological expertise and IT infrastructure know-how along with market knowledge and experience of technology marketing in India; the two partners syndicate to become a cutting edge player in the field of secured blockchain solutions.