Unbound - Technical Innovation of the Year
Entry Submitted By: Zintel Public Relations LLC
Company Description: Inside Secure: A global provider of software, silicon IP, tools and services needed to protect customers’ transactions, ID, content, applications and communications. Unbound: Answering today’s security challenges in the financial industry,
Nomination Category: Company / Organization Categories
Nomination Sub Category:Technical Innovation of the Year - At Organizations With Up to 100 Employees
Nomination Title:Unbound: Unbound’s Software-Defined Cryptography Extends Digital Trust Beyond Physical Boundaries
Tell the story about what this nominated organization has achieved since 1 January 2017 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.
Unbound’s Software-Defined Cryptography Extends Digital Trust Beyond Physical Boundaries
Until now, sensitive keys needed to be locked in dedicated hardware, as compromise of a single key may lead to severe business implications, destroying value and eroding trust. Unbound ensures your keys are never exposed throughout their lifecycle, whether in use or at rest, and even when keys are created.,without reliance on dedicated hardware– making protecting information simple and user-friendly without compromising on security.
In 2017, Unbound stood as a clear technical innovator in the field of cryptography. Specifically, its coined phrase, “Software-Defined Cryptography (SDC)”, gained notable industry traction and usage in IT, business and cybersecurity publications while the company offered Multi-Party Computation (MPC) solutions to transform how organizations address security.
It is well known that there is no such thing as perfect security. No single system can claim to deliver unbreakable security. MPC-based security systems provide an unprecedented level of resilience by eliminating the single point of compromise: sensitive computations such as cryptographic operations are performed using multiple participating systems such as servers, endpoints, mobile, IoT etc., andit is guaranteed mathematically that unless all participating systems (hereinafter, nodes) aresimultaneouslybreached, the secret cannot be compromised.
The above principle is deployed in practice in multiple scenarios, for example:
- Using secrets within the enterprise:Where secrets are split to meaningless shares that are shared between multiple nodes which are highly segregated in a way that would make it extremely difficult to breach simultaneously using lateral movement or other means — even compared to a dedicated hardware like an HSM. Today’s distributed, perimeter-less environment enables a variety of options for easily creating effective segregation on multiple levels such as different credentials, different devices and environments, different software stacks etc., all supported and provided as part of Unbound’s products.
- Using secrets held by a third party such as a cloud service provider (CSP):in this scenario, MPC-based security systems provide an unprecedented level of control and resilience for secrets managed and used by a CSP. Unbound’s Control Your Own Key (CYOK) enables an enterprise using cloud services to have guaranteed real-time control and monitoring on their most precious secrets by sharing the MPC nodes between the enterprise and the CSP — enabling the oxymoron of enjoying the benefits of SaaS and IaaS while still maintaining full control of the most sensitive keys and secrets.
In order to effectively protect secrets in such scenarios and others, a rapidly growing number of Fortune 500 enterprises with the strictest security and privacy requirements are deploying Unbound products, replacing legacy systems such as HSMs and enabling trusted digital innovation scenarios such as hybrid cloud migration, secure authentication, crypto assets and many others.
Unbound offered its latest, unmatched security solutions for the following use cases:
- Hybrid Cloud Key Management for Any Key, Any Cloud
- Control Your Own Key (CYOK) in the Public Cloud
- Secure Cloud Native Applications
- Deploy Elastic and Automated Key Management
- Deliver Future-Ready, Crypto-Agile Applications
- Add a Root of Trust for Apps into Any BYOD
- Secure Keys and Credentials on IoT Devices
- Go Passwordless Now
Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2017? Technical Innovation