As more enterprises migrate to the cloud to store their data, accessing that information by members of the organization, hundreds or thousands of times a day, can give hackers a potential vector of attack. This very concern has led MGT Capital Investments to develop Clear Skies a new platform that allows enterprises to implement a layer of security for the data they store in the cloud.
The IBM (News - Alert) 2016 Cost of Data Breach Study carried out Ponemon has revealed the average consolidated total cost of a data breach grew from $3.8 million to $4 million. For enterprises with highly sensitive information, the reputational damage can be even more costly as customers look elsewhere because they no longer feel safe.
The premise behind Clear Skies is to ensure when there is a lapse of security at the cloud level, it doesn't affect the company's data to the breach. According to MGT, it essentially provides the same level of security as an on premises-based database while leveraging all the benefits of the cloud.
"Clear Skies is an enterprise-level application that gives businesses and customers full control of their data and provides de-facto end-to-end encryption. Clear Skies provides the same end-user convenience and benefits as the traditional Cloud, but without the risk and consequences of hosting data on somebody else's servers, only to be hacked when they fail to keep us safe," said Eric "Eijah" Anderson, creator and proposed Chief Technology Officer of MGT.
Clear Skies is powered by the companies Demonsaw technology, which allows organizations to secure applications that were vulnerable to hackers in the past, including clear-text email and web browsing, as well as being able to collaborate in real time, synchronize and share files, audio and video chat, and configure anonymous traffic routing networks on-the-fly.
Demonsaw uses a flexible platform with multiple layers of asymmetric and symmetric encryption that creates keys at runtime and are never shared. However the data is shared across a fully decentralized, mesh-based network that doesn't use P2P and never reveals the user's IP address.
Demonsaw is on Version 3, which was just released earlier this month with additional features to improve on the privacy principles of the platform but with more advances in network communication, speed, security, anonymity and extensibility. The company said the new version was rewritten entirely from the ground up based on user feedbacks it received from its users.
Organizations will now have more control on the entire ecosystem of their connectivity to the cloud because they are able to choose what routers to trust, the type of tunnel used when connecting to a network, customizable and theme-able interfaces, and much more, this according to Anderson.
With the founder of McAfee (News - Alert) at the helm of MGT, the company will quickly establish itself as a security powerhouse for businesses looking to protect the data in the cloud. John McAfee said, "Clear Skies is just the beginning to the groundbreaking ways that we can integrate the Demonsaw technology to meet the emerging needs of the Business world."