Nature devised a perfect structure to protect the most valuable part of fruits and vegetables. Think about artichokes, onions, and corn - it takes effort to get to the core. Good IT security works in a similar way. Multiple layers of security--including identity management and data-level encryption--help keep sensitive information safe in a breach.
This strategy, however, can work only if there’s an easy way to control who can access what data at any point in time. Many IT departments struggle with this elemental task. For large corporations, it’s common to have “millions of user access privileges spread across thousands of IT resources”, as a study by University of Regensburg notes.
Companies report “careless employees” and “outdated security controls” as the two vulnerabilities currently exposing them to the most risk, according to EY’s Global Information Security Survey 2018-2019. Cloud-based identity management, “identity as a service”, addresses these risks in several ways:
Because “human error is a major factor in security breaches”, automating database management in a trusted cloud can dramatically increase security levels, advisory firm KuppingerCole concludes. In an ideal environment, IT administrators offload routine tasks such as updating databases and fixing user accounts. When cloud databases can automate patches and updates, IT staff can focus on responding to suspicious activity flags generated by artificial intelligence (AI).
Transformative technologies like AI and blockchain add next-level layers of security and protection. This is the vision for the Global Shipping Business Network, initiated by Hong Kong-based Cargo Smart. By storing necessary information in a cloud database all parties share, the system eliminates the need for printing, sending or faxing documents—along with third-party verifications. CargoSmart’s blockchain solution aims to simplify the shipping documentation process, increase trust, and boost efficiency. Connected through a blockchain documentation platform, the entire shipping ecosystem can reduce disputes, avoid late penalties from customs agencies, expedite documentation turnaround times, and better manage detention and demurrage costs. CargoSmart projects a 65% reduction in the amount of time required to collect, consolidate, and confirm data from multiple parties and to handle shipping data that is repetitive in different documents by leveraging its blockchain shipment documentation solution.
Authorized users can see exactly what they need to see, but no more. Blockchain technology guarantees no one can retroactively edit even a single entry in the shared database. “A peer-to-peer immutable distributed ledger provides near real-time insights. This unprecedented transparency will restore trust in the industry”, notes Steve Siu, CEO of CargoSmart.
To find out more about how IT managers and other business leaders view data security issues, read our report.