OTTAWA, Ontario, January 31, 2017 /PRNewswire/ --
Annual Economic Damage From Cyber Crime Expected to Double by 2021 According to Cybersecurity Ventures
Ottawa, January 31, 2017 - Validian Corporation (OTCQB: VLDI; "Validian" or the "Company"), a leading innovator in cyber-security technology, today discusses the personal, commercial and industrial data pain points addressed by its first-to-market cyber security technology, ValidianProtect.
Recent reports estimate that economic damage from cyber crime will continue to grow from $3 trillion in 2015 to $6 trillion annually by 2021 (Cybersecurity Ventures, Q4 2016). An earlier study published by the Atlantic Council and the Zurich Insurance group estimates that economic damage from cyber-security attacks will increase to over $90 trillion by 2030 if the pace of cyber-security technologies and approaches fail to advance at a sufficient pace (Forbes, Dec 2015).
Given the significant increase in economic damage and the number of successful cyber attacks, it is obvious that current cyber security technologies and approaches are not sufficient to protect against these data breaches and theft -- regardless of how sophisticated they appear to be.
Existing cyber security technologies, such as end-to-end encryption that are based upon standard Crypto Protocols like SSL/TLS, PKI and PGP, as well as smart firewalls, intrusion and threat detection and prevention systems, including the recent trend to predictive models, are a fragmented patchwork of various point solutions (data encryption, end-user authentication, network filters, host-based protection tools, etc.), each with its own cyber security issues.
However, the biggest cyber security exposure is that these technologies combined are anything but seamless with each other, and have security gaps between them that are readily exploited. While each can be attacked successfully due to its own inherent cyber security weaknesses, it is often easier for a hacker simply to exploit the gaps between them rather than attacking them through these vulnerabilities.
As a result of this continuing digital security challenge, experts have called for a new approach to cyber security; one focused on data, where true personal, commercial and industrial value lies.
Over the past two years, Validian has been committed to answering this call. Since Q4 2016, Validian has extended its core technology, ValidianProtect, so that it is now the first cyber security technology to encompass and seamlessly protect the full life cycle of data with secure access, retrieval, transfer, receipt, storage and usage of digital information on all devices, operating systems and technology platforms.
While ValidianProtect can be integrated into an application in a couple of weeks, versus the 9 to 24 months to integrate standard Crypto Protocols like SSL/TLS, PKI and PGP, it first takes an additional 9 to 24 months to develop a quality, new application.
While the incredible ease and speed with which ValidianProtect could be integrated into an application was already setting a new standard for the cyber security industry, Validian recognized that in order to scale quickly to thousands of apps, it would be necessary to speed up this application development process even further. In response, Validian redesigned its ValidianProtect technology to include a group of downloadable, re-usable, feature modules, which make it possible for a programmer to quickly and easily add any combination of a significant number of pre-built, commonly used functions and first-to-market differentiating features to or from any application, thus saving them many man-years of previously extra development time.
Bruce Benn, Chief Executive Officer of Validian Corporation, commented, "At Validian, we recognize that time to market is as critical to cyber security as the security measures themselves. That is why we are so excited about the recent changes to our ValidianProtect cyber security application and data protection platform and data protection module. These changes now provide significant competitive advantages to each Validian-enabled app, in that new and existing apps can now be developed, modified and deployed with speed, efficiency, and scalability previously unheard of or even hoped for in the software development world."
About Validian Corporation
Validian Corporation (OTCQB VLDI) is a leading innovator in cyber security technology that protects the full life cycle of data, where the value is, by providing secure access, retrieval, transfer, receipt, storage and usage of digital information on mobile, Cloud, web, local and network applications, devices, servers, databases and memory at rest, in transit and in usage using wired, wireless and mobile networks and all of the 6 mainstream technology platforms. Validian technology enables the next generation of secure Mobile Messaging and Communications, Cloud Computing, Cloud Storage, Distributed Computing and Web Application and WebPortal Access and Usage, Software Defined Networking, the Internet of Things and SCADA, for computers, servers, data bases, intelligent sensors, tablets and SmartPhones.
The Company provides solutions that can be customized to the client's business process to ensure end-to-end authenticity, integrity and custody of high value digital assets. Validian is a U.S. public company with offices in the U.S. and Canada. Visit www.Validian.com for more information on its digital asset solutions.
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SOURCE Validian Corporation