Last year, a cross industry survey was released, showing that more than 90% of US companies reported that they knew they were breached at least once in the 12 months prior, and that the resulting average breach cost was around $4M. While this does represent the average, it certainly does not represent damages from loss of reputation or stock price hits that come from breaches becoming public. For most companies, this can be a huge financial and reputational burden that’s hard to shake off. It becomes clear that the need for new Cyber-Security techniques to keep hackers away from companies data is an immediate and important one. Given the increase in fraudulent activity under Covid-19, a new look needs to be given to novel methods that mitigate cyber threats across various networks. They are even able to extend security to other networks, while people are at home retaining full access to the business’ critical cloud environments and dealing with company data.
Monica Oravcova, COO, and David Carvalho, CEO, both saw there was a large gap between the cybersecurity technology available today and the risks these technologies simply cannot mitigate. In other words, there was a need to deal with the increasing severity of threats, stemming from the opportunities provided by the exponential growth of data, its value for hackers and the complexity that today’s fast-paced business world brings. Risks stem from personal devices used for business called BYOD, connected devices (like IoT), the complexity of managing them all to a high standard, the cost of doing so without forgetting a single one, all the while many people are working from home in unsecured networks outside of the business security standards reach. Current regulations and standards are pushing companies to implement more strict cybersecurity measures in order to prevent cyberattacks, requiring them to have cyber risk mitigation tools and expertise in place as well. Cybersecurity risks are pressuring businesses to change from bottom up and businesses have to adapt to this new ecosystem out there or suffer the inevitable consequences in the form of a data breach or worse.
Naoris provides the first distributed cyber threat detection and endpoint security framework. It doesn’t rely on just one centralized system to protect against the ever growing hordes of unknown malware that’s out there. Rather it integrates all devices under the business into a secure private blockchain providing an additional hyper-resilient security layer for the business. Every single device plays a vigorous role in the current security posture while actively monitoring and verifying the secure state of the corporate infrastructure. Naoris leverages distributed ledger technology (DLT) at its core that is incredibly scalable so the more your business grows and the more devices are on boarded into the Naoris Distributed Security Ecosystem (Naoris DSE), the more secure it becomes. As blockchains thrive in complexity, it ensures cybersecurity validation, detection and resolution capabilities increase as the business grows. As your business expands into the cloud it will still maintain security, resilience and integrity irrelevant of the network it is in.
Naoris connects every device and wraps it around a resilient security layer and strengthens all these devices by allowing them to protect each other and to detect cyber attacks like ransomware, cyber weapons or generally any otherwise unknown piece of malware. As an example, if a bank has fifty thousand devices like mobile phones, laptops, and servers, these are all different entry points for an attacker nowadays. If any of these act like a single point of failure, the attacker usually picks the weakest one to enter the network and then moves laterally across the network of the organization until he or she finds sensitive data like intellectual property, personal data, or an application the attacker can manipulate that has value. Because such attacks are normally vener detected, it’s really limited to the imagination of the attacker what he will do. With Naoris, for the first time you can have all of these devices increase the security posture of the company. If there is a discrepancy, threat, or a device steps outside of a set of predetermined rules, the surrounding nodes will flag it for action. Since this information is linked in the blockchain, the timing, order and content of transactions, malicious or otherwise, cannot be manipulated.
The vast majority of attacks that fundamentally threaten a business start at endpoints and target endpoints, perhaps leveraging the network as well. So Naoris decided to protect these as a priority, making every endpoint into a node on a blockchain that guarantees cybersecurity for the devices on boarded into it. After Naoris connects all endpoints on their ecosystem, they monitor the ‘health status’ of every single device connected. “Now for an attacker to attack your company and to be unnoticed, he or she would have to attack the whole infrastructure at the same time and change the cryptographic consensus on a blockchain, which the attacker does not control nor has the computational capability to break. Naoris is using mathematical algorithms and quantum resistant encryption to ensure the security of corporations or businesses in the regulated spaces like banks and financial institutions today and into a future that is coming in fast,” shared Monica.
Naoris’s tool gives you visibility and knowledge that your company is under a cyber attack early on and you’re able to handle the attack right from its inception. With such a platform, you know exactly which employee or which device has been attacked and you can stop it right away before it spreads across your network. This also avoids the potential for a costly breach, mitigating a potential situation where everything would be possible if the attacker was not detected on time, such as risks from regulatory fines and lawsuits from customer data loss to IP loss/industrial espionage or otherwise a breach with public impact that ends up damaging reputation or even brand renown damage impacting stock price and confidence. According to Monica “this is the additional benefit we are able to give to our clients. With the Naoris tool, you are able to act fast and stop the attack right from the beginning, bringing you something you always needed – To know your Unknown-Unknowns and make informed decisions to mitigate your risk before the worst happens. Especially if you’re a company that is regulated, handles critical data, distributed globally with operations around the world and if you’re using a lot of legacy tools we are able to integrate seamlessly and mitigate your cyber risks right from day 1.”