Month: May 2020

Webinar: Securing Remote Access

Hub Security’s Chief Product Officer Ido Helshtock joined OurCrowd’s Cyber Security webinar to discuss working remotely and secure access at current times.

The Pathway to Secure Remote Voting

A recent Senate memo released this week offered a peek into the US government’s efforts to leverage blockchain technology, with security as a core focus. The memo was drafted for a roundtable aimed at exploring the “Continuity of Senate Operations and Remote Voting in Times of Crisis.”

It outlines COVID-19’s impact on the ability of the Senate to congregate and vote on new and upcoming legislation, forcing Congress to rethink its operations as in-person meetings become obsolete.

Join Hub Security’s CPO Ido Helshtock online this Thursday, May 14th to discuss Secure Remote Access in time of COVID-19 on OurCrowd webinar Cybersecurity and Insecurity.

According to the memo, any solution worth exploring will have to prove its authentication and encryption abilities. As blockchain, or distributed ledger technology, offers both transparency and encryption as benefits, it is being explored as an ideal solution.

It noted, “With its encrypted distributed ledger, blockchain can both transmit a vote securely and also verify the correct vote. Some have argued that these attributes make blockchain useful for electronic voting broadly. Blockchain can provide a secure and transparent environment for transactions and a tamper-free electronic record of all the votes.”

In fact, blockchain voting has already been creating waves and changing elections. Overseas military from West Virginia, USA for example can already vote in their local elections using just their mobile phones. A combination of encryption and blockchain registry then tallies their votes. 

Other countries like Brazil, Denmark, South Korea, and Switzerland have also already begun looking into ways blockchain voting can be used. But by far, Estonia is leading the way. Their citizens each hold unique ID cards that allow them to vote on the blockchain both quickly and securely.

Despite the many benefits, the Senate still has reservations regarding the use of blockchain –– as it should. The biggest concern outlined in the memo is that the network supporting the voting infrastructure could fall into the wrong hands. Since the Senate is a relatively small entity, any blockchain network used must be able to eliminate the threat of a 51% attack.

A federal government report released in 2019 on secure online voting concluded that blockchain had not yet succeeded in resolving key security issues inherent in any internet-based voting system. The recently released memo cited similar concerns, such as “…possible vulnerabilities from cryptographic flaws and software bugs.”

Many startups including Votem, Voatz, Follow My Vote, Boulé, Democracy Earth and Agora have already begun developing and promoting blockchain-based voting systems. Many of them believe blockchain could be as big a deal in voting as advocates expect it to be in shipping, money transfers, and property records.

But technology and security experts alike seem to think otherwise. “We range from being skeptical to very skeptical about it,” said Maurice Turner, senior technologist at the Center for Democracy and Technology.

But one promising solution could come from somewhere unexpected –– the cryptosphere. Cryptocurrencies like Bitcoin have seen their fair share of hacking attempts, with millions already exploited by hacking entities that lurk on the dark web.

Hub Security, a Tel-Aviv based cybersecurity firm, is now looking to share their cryptographic technology with the Senate, and the rest of the world. Their promise: a military-grade, highly-secure voting environment for both citizens and parliamentary members alike. 

Designed for FIPS 140-2 level 4 certification, Hub’s miniHSM device would allow voters to participate in the electoral process while remaining 100% isolated from local network connections. The HSM’s unique cryptographic architecture eliminates any cyber and privacy threats from the internet, home computer or mobile device, making blockchain voting for the first time a viable option.

Whether the future of voting remains paper-based or takes on a new evolution of cryptography, elections must go on and both citizens and congressional leaders must continue to explore solutions for maintaining the engine of democracy during COVID-19 –– our voting systems.

Tackling Cloud Security in Uncertain Times

More data and applications than ever have moved to the cloud creating unique infosecurity challenges for both cloud providers and cloud customers alike. Cloud data storage security has forced today’s cybercriminals to invent new ways to circumvent today’s cyber solutions in order to gain access to the sensitive data of millions of businesses and individuals.

Seagate® Technology, a world leader in data storage and management solutions, opened its LyveTM Labs Israel initiative in February. Its mission? To form partnerships with businesses in order to enable innovations by providing simple, secure, and efficient ways to work with exabytes of data. 

The initiative empowers the seamless movement of data, optimizing its business value both in flight and at rest. “The reason Seagate created Lyve Labs is because we understand that innovation cannot happen in silos,” said Seagate’s CEO Dr. Dave Mosley. “Innovation is a work of collaboration. The innovators at Lyve Labs are indebted to other innovators. In turn—drawing on over 40 years of Seagate’s experience as a global leader in data storage and management solutions—we want to help enable innovations that use data for the good of humanity.”

Watch Erez Baum, Seagate Lyve Labs Israel senior director and Eyal Moshe, Hub Security CEO discuss how Global companies can partner and collaborate on Cloud, data and security.

The startups partnering with Lyve Labs Israel take on data challenges that tackle real-world problems, such as disaster management and cloud security. One such startup is Tel-Aviv based cybersecurity firm Hub Security who have partnered with Seagate® Technology as part of its new initiative to explore ways to create safe and secure data management solutions. 

AXA Ventures Leads $5 Million Investment in Hub Security

FPGA-based cyber platform closes Series A funding round with additional investment from OurCrowd
Tel Aviv, May 7, 2020Hub Security, a startup that offers military-grade cybersecurity solutions for fintech, cloud, blockchain and data storage, announced today it has closed a $5 million Series A funding round led by AXA Ventures, with participation from Jerusalem-based OurCrowd.

The company said the investment will be used to strengthen Hub Security’s team, expand their technology and offer enhanced products to fintech companies, focusing on enabling access to credit, corporate banking solutions, cross-border payments and providing ultra-secure banking solutions.

Hub Security offers a solution to growing security concerns related to cloud and enterprise organizations that are raising alarm bells across industries struggling to combat rising levels of cyberthreats and attacks.

There is consensus among security experts of the need for military-grade security solutions that can address the threat of data theft and exploitation –– especially in the era of COVID-19.

“We believe this round of funding is crucial to helping us continue our mission of providing military-grade level cybersecurity solutions to top cloud and digital asset management providers,” said Eyal Moshe, Hub Security’s CEO.
“Hub Security’s end-to-end approach to the development and delivery of its hardware and software components ensures the highest level of security throughout the entire product lifecycle –– something that’s critical now more than ever in the era of COVID-19. We don’t take for granted the trust we’ve seen from investors, especially in the current financial climate,” said Moshe.As a growing number of industries turn to cloud and data storage solutions, there is an increasing demand for cybersecurity solutions that can combat emerging threats.Hub Security boasts an expanding portfolio of fintech, cloud, and insurance clientele.

In February 2020, the company announced its strategic partnership with Seagate® Technology as part of its new LyveTM Labs.

The initiative was launched in order to provide methods for safe and secure data management solutions, both on and off the cloud.“Hub Security’s miniHSM is the first of its kind to offer a pocket-sized HSM solution, which provides an ultra-secure HSM-to-HSM communication layer built uniquely for cloud, banking, healthcare, and government enterprises with scalable, air-tight security that can support any cloud-based or digital asset,” said Moshe.HUB Security utilizes military-grade cybersecurity tactics for its HSM architecture that is designed for FIPS140-2 Level 4 protection (In advanced stage process) –– the highest protection level available for mobile cryptographic security solutions on the market to date. HUB Security’s combination of hardware and software solutions include ultra-secure internal signing and authorization flows with a multi-signature vault, hardware firewall and an AI-learning system designed to anticipate unique cyberattacks.“On our FPGA-based HSM, we have an innovative approach,” Moshe said. “This is in sharp contrast to HSMs relying on legacy architecture, where you have to connect your source via PCIe — and depend on the operating system to deliver the data to your application.

HUB Security approach  gives very high bandwidth, as well as low latency.”“I was actively looking for a ‘software-defined HSM’ platform company in Israel for the past 12 months and I was very pleased when I met Hub Security and learned about their unique offering. We agreed very quickly to partner and invest,” said Moshe Raines, Partner at OurCrowd and Labs/02 managing partner.

About Hub Security: Hub Security is a top-tier, military-grade provider of HSM and key management solutions for fintech, cloud and blockchain security. Leveraging military-grade cybersecurity tactics and utilizing cutting-edge innovations, HUB Security has developed a family of products that provide the highest level of enterprise security available on the market today. https://hubsecurity.io/
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