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Security Company’s Cryptography Play Aims At Tech Firms, Finance

A new suite of tools by startup Dyadic can stop a cybersecurity breach in progress.

Security Company’s Cryptography Play Aims At Tech Firms, Finance
[Photo: Flickr user Remko van Dokkum]

Almost all companies use cryptography–the creation of secure communication techniques like codes and encryption–to protect sensitive information online, including customer passwords and credit card data. However, many organizations that depend on cryptography don’t understand the specifics of how different forms work, which means they cannot respond effectively when their systems experience a breach by hackers or are compromised from the inside.

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A company called Dyadic is hoping to solve this problem using two techniques called distributed key protection and software-defined encryption, both of which rely on a technique called multiparty computation that isn’t currently commonly used in the cybersecurity industry. Multiparty computation is a subset of cryptography that could lead to new cybersecurity innovations, but which has been too difficult to leverage in business contexts until recently.

The company’s Crypto Suite product, says CEO Avner Mor, is aimed at the software, financial, and health care industries. According to Mor, a major part of the system is the fact that it can protect secret, sensitive cryptography keys. In some contexts, it extracts information from data without actually accessing files, which is an advantage for very security-sensitive industries like finance.

According to Dyadic, even if a system is breached and attackers get access to some credentials, other credentials will instantly become inaccessible. The company was founded by two cryptographers with a background in multiparty computation.

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