Cyberattacks continue to increase globally and the yearly statistics show an exponentially growing damage caused by them. According to the latest research, cybercrime happens every 39 seconds on the web and just in Canada was estimated to cost $230 million in 2021. This has made numerous business owners boost spending to protect their organizations from the many types of cyberattacks that could potentially harm their business.
To reduce the risk of online crime, TAAL’s strategic partner SmartLedger has collaborated with Certihash and IBM Consulting to develop a next-generation cybersecurity detection tool that will decrease the overall time to identify a data breach from the average 212 days, significantly reducing the life cycle and total cost of a cyber-attack.
“Over the last decade, technology has struggled to effectively prevent and consistently detect cybersecurity breaches. ‘Sentinel Node’, which is the first of five planned Certihash releases, represents our innovative solution for real-time detection of network anomalies and events. Cybersecurity is no longer about prevention alone, it is about detection at the earliest possible moment,”
said Bryan Daugherty, co-creator of Certihash.
The Certihash ‘Sentinel Node’ application will be deployed on the BSV blockchain, a public permissionless blockchain protocol with sustainable scaling capabilities. Enterprises and academics are increasingly recognizing what TAAL has long believed, that blockchain technology, and BSV in particular, can play a pivotal role in tackling cybercrime, as the innovative tech presents a variety of ways to combat the rampant threat of cyberattacks.
One of the ways is data storage protection and the technology’s approach to confidentiality. The BSV blockchain is designed to allow individuals to exchange data in an entirely new architecture that provides a firewall between the user’s identity and the transaction. This removes the need for a third party trusted authority and empowers users to maintain control over their identity. This significantly increases the cost to the cybercriminals, as they are required to individually attack millions of customers’ networks instead of targeting a network that exposes millions of customers’ information.
According to the SmartLedger announcement, the Certihash ‘Sentinel Node’ solution is expected to be launched worldwide in the next six month and will include:
- Unalterable, centralized log collection and normalization
- Automated threat detection, response, and immutable audit trail
- Real-time monitoring of system health and performance of network through a single pane of glass (SPOG)
- Distributed data processing and file integrity monitoring
- Compliance reporting tools
- Actionable cyber threat intelligence for investigation, forensics, and response
Earlier this year, TAAL and SmartLedger announced a strategic sales channel partnership to work together towards enlarging the size of the blockchain-user customer base, which will now benefit from better product and service quality, reduced costs, and faster implementation of optimal solutions.
The strategic alliance has established a direct connection between SmartLedger’s reach in the implementation and distribution of blockchain solutions, and TAAL’s capacity to support global blockchain applications through its STAS tokenization technologies and data processing capabilities. The partnership has also set out a list of primary key objectives, which include the undertaking of projects for commercial exploitation of new technology and products, and SmartLedger’s use of TAAL´s technical expertise in its business research.
For more information on how the BSV blockchain can meet your business’ needs or protect it, get in touch with us at [email protected]