One of the tools that is best exploited by entrepreneurs worldwide is something we all have access to: the internet. While this great asset helps entrepreneurs explore, investigate and communicate to grow their business enquiries, it also exposes one to security breaches.
These breaches can vary from stolen data to personal privacy used as ransom or blackmail. No matter what the purpose is, entrepreneurs have been a valuable target for hackers worldwide, who can access data without the need of decrypting it.
What is Homomorphic Encryption?
Homomorphic encryption provides high-end cybersecurity measures that provide services to protect and safeguard a company’s or individual’s data in an entrusted location that is owned and managed by a third party, making hacking a lot more difficult for a cyber criminal.
This task is accomplished by performing signatures or operations on encrypted data without having the need to decrypt the data first. This beautiful, yet complex, security system was created by Craig Gentry back in 2008.
Business networks often have faulty networks that leave the door wide open for perpetrators. However short these periods of exposure may be, cyber criminals are always alert waiting for a window of opportunity to open.
The amount of encryption and the way data is backed up by homomorphic encryption provides the best cyber security solution for businesses and individuals alike who depend on using the cloud to perform their business operations.
The Solution that Homomorphic Encryption Provides
The beauty of what homomorphic encryption offers is the elimination of the unencrypted security gap, which will provide complicated and innovative options for cyber security. As we rely more and more on sharing personal and professional data on the internet, cyber analysts will be more open to gather and store said data by a third party in order to protect its privacy.
As homomorphic encryption provides an enormous database, it will facilitate professionals worldwide to access this information to gather data such as demographics; and while this may sound frightening, it could actually open a window for medical research and discovery that organisations would otherwise not be able to safeguard or access.
Authorities could also benefit from this type of encryption, helping to access information about criminals in a much faster manner without exposing underlying data and eliminating the need to abuse power in order to obtain such valuable information.
However, homomorphic encryption is still in continuous growth and development, as it does require a huge amount of computing power. While it is currently being used in everyday business cybersecurity protection, there are still more ways to be discovered in which homomorphic encryption can help the world.