Month: June 2020

Hub Security Releases First-of-its-kind Quantum-proof Programmable HSM

TEL AVIV, Israel, June 22, 2020 Following the close of its $5 million Series A funding round in late April, cybertech company Hub Security today unveiled its next-gen programmable Hardware Security Module (HSM), the first to offer quantum-proof capabilities to enterprises. The new solution includes hardware-embedded support for quantum-resistant algorithms as well as quantum source of randomness –– features designed to protect against the next generation of cyber threats and attacks.

Quantum computing is rapidly advancing. IBM predicted in 2018 that quantum computing would be mainstream by 2023. IDC predicted in 2019 that “25% of the Fortune Global 500 will gain competitive advantage from quantum computing” by 2023. When quantum computing comes of age, today’s encryption standards will no longer be secure and any data protected by them will no longer be private. That could usher in a wave of cyberattacks targeting organizations’ most sensitive information.

Hub Security’s newest flexible HSM will help organizations weather the coming evolution of cyberattacks and threats related to quantum computing. While current industry-standard HSMs are equipped to run quantum computing algorithms, many of them provide these capabilities purely on a software level, making them low-performing and unsuitable for cloud and payment processing and other real-world applications.

“Within five to 10 years, quantum computing will be ubiquitous, and many companies that have heavily invested in cybersecurity will need to toss their current HSMs in exchange for high-performing quantum-proof devices,” says Hub Security CTO, Andrey Iaremenko. “It’s going to be a stark wake-up call for many industry leaders and enterprise organizations when they realize their investments in cyber protection don’t go far enough to secure their company’s––and customers’––most sensitive digital assets.”

Hub Security’s customizable HSM offers high-performance military-grade key management and cryptographic solutions built on FPGAs. Now coupled with its latest quantum-proof release, the company will enable cloud and enterprise industries to safeguard against massive attacks by novel and critical cyber threats.

As a growing number of industries turn to cloud and data storage, there is an increasing demand for cybersecurity solutions that can combat the unique threats they face. Hub Security’s miniHSM is the first-of-its-kind pocket-sized HSM solution coupled with 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.

Hub Security utilizes military-grade cybersecurity principles for its customizable HSM and handheld miniHSM devices’ architecture that is designed for FIPS140-2 Level 4 protection (pending) –– the highest protection level currently available on the market for mobile cryptographic security.

The company’s combination of hardware and software solutions includes ultra-secure internal signing and authorization flow with a multi-signature vault, hardware firewall, access control, rules, policy engines and an AI-learning system designed to anticipate unique cyberattacks.

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/

What Is Real Estate Tokenization

 

As blockchain-powered solutions expand far beyond the financial industry, investors are beginning to turn their eye to the use of cross-industry tokenization. Blockchain’s decentralized and transparent characteristics make it appreciated by banks, investors, and logistic experts alike –– as its potential applications are innumerable and far reaching.

Now global governments have begun testing the waters of blockchain’s potential when it comes to property tokenization by putting certain property-related issues onto the blockchain.

Real Estate and Tokenization

The value of asset tokenization is particularly relevant in real estate markets, which is by far the largest asset class in terms of global asset value. According to a report, the size of the professionally managed global real estate investment market grew from $7.4 trillion in 2016 to $8.5 trillion in 2017.

Without question, home equity as a source of capital remains a global trend –– even if subject to market volatility. It still remains one of the safest places to place wealth, so it’s not surprising it’s going digital.

From enhanced liquidity to lower transaction costs and faster processes, tokenization of one of the world’s largest asset classes will undeniably change the way we buy, sell, and trade property in the not so distant future.

How Real Estate Tokenization Works

In a nutshell, tokenization is the process of transforming an asset into a digitally represented token. In the same sense, real estate tokenization is the process of digitizing the value and the ownership of property into a token –– or multiple fractional tokens –– that can be distributed among investors.

This process gives the property holder the right to own a portion of the property legally, and the creator of the token increased liquidity of funds.

Another set of advantages of tokenizing property assets are increased investment opportunities. By bringing in a large pool of global investors who would want to invest in real estate in other countries, new investment opportunities are expanded through an increase of asset liquidity and implementation of collective management use cases.

What Real Estate Can Be Tokenized?

Since tokenization is fairly flexible, a token could represent ownership of an underlying real asset, an equity interest in a legal entity, interest in a debt secured by the asset, or even a right to share in profits arising from use of the asset. Use cases are endless and new investment opportunities are still yet to be explored.

Even the types of property involved can vary. From single-family homes to office buildings to retail spaces, and everything in between, real estate can be defined in a broad manner. While this may sound too good to be true, several models of real-estate tokenization are already being actively used, including:

  • Timeshares
  • Special-purpose vehicles
  • Shares in real estate funds
  • Loans to development projects
  • Tokenized REITS

Join Hub Security’s TokenSoft’s CEO Mason Borda and CRO David Hochhauser online this Thursday, June 18th for a discussion on Real Estate Tokenization.

Aviation Industry Grapples with Basic Cyber Protection

 

EasyJet, one of UK’s largest budget airlines disclosed to its customers in March that a massive data breach had taken place, affecting nine million of its customers and involving over 2,000 credit-card details.

EasyJet now reports it has been the target of a “highly sophisticated” attack, which provided hackers with access to customers’ email addresses and 2,208 credit-card details.

EasyJet’s data breach dwarfs a 2018 British Airways data breach, which was fined $225m last year by the Information Commissioner’s Office under Europe’s General Data Protection Regulation (GDPR).The airline industry is already facing major challenges as many aircraft carriers are facing service disruptions due to the pandemic. Additionally, there is a legal battle being fought in courts by the directors of the carriers over business strategy approaches.

The latest hack signals how imperative it is for enterprise airlines to ensure Infosecurity best practices are put in place in order to avoid future devastating data breaches from taking place. The industry as a whole lacks strict requirements to prevent such incidents or even adhere to specific cybersecurity standards.

Aviation Security Challenges

With one of the most integrated and complex information and communications technology (ICT) systems, the aviation industry faces threats on a number of fronts with its increasing interconnectivity. From data theft to national and political motivations, today’s aviation industry faces multiple cyber risks on a multi-front war.

Common threats to the aviation industry include, but are not limited to:

1. Phishing Attacks

Last year the Center for Internet Security reported that 75 US airports were the targets of advanced persistent threats.

2. Jamming Attacks

Jamming attacks occur when an attacker injects a ghost flight into the air traffic control system.

3. Remote Hijacking

Security flaws in the software and hardware used for communication in the aviation industry allows hackers to remotely attack or control in-flight and on-board systems.

4. DDoS and Botnet Attacks

Distributed-denial-of-service attacks utilize botnets of compromised networks to flood air traffic control and other critical systems, resulting in the platform crashing.

5. WiFi-based Attacks

Vulnerabilities in a plane’s onboard system could allow hackers to use the onboard WiFi signal or in-flight entertainment systems to hack into the plane’s avionics equipment.

HSM for Aviation

The increased wave of security concerns for airlines has continued to ripple across the aviation industry. The growing consensus among security experts outlines the need for air-tight security solutions that will address the threat of malicious hacking attempts and data theft.

Hub Security’s next-gen HSM offers excellent performance military-grade key management and cryptographic solutions built on FPGAs which can handle more data per second than traditional CPU based  HSMs.  enabling  safeguard against massive attacks of novel and critical cyber threats in cloud and enterprise industries.

Hub Security’s combination of hardware and software solutions includes ultra-secure internal signing authorization flow. Designed with a multi-signature vault, hardware firewall, access control, and a deep neural network learning system, Hub Security’s Hsm is built to anticipate and prevent unique aviation attacks.

Join Hub Security’s TokenSoft’s CEO Mason Borda and CRO David Hochhauser online this Thursday, June 18th for a discussion on Real Estate Tokenization.

What is Homomorphic Encryption

 

Technology is changing rapidly around us daily and a growing number of organizations are implementing service to improve their security and levels of productivity. However, as we enter the new generation of connectivity and exponential growth of personal data generation and collection, we must re-examine the entire idea of security and the ecosystem that connects all its moving parts.

Many common services, such as cloud data storage, are not as secure as they may seem. These vulnerable endpoints leave companies at high-risk for any number of cyberattacks, ranging from data breaches to ransomware schemes with far-reaching consequences for entire organizations. That’s where homomorphic encryption comes in.

Homomorphic Encryption

Homomorphic encryption is a method of encryption that allows computations and queries to be performed upon fully encrypted data, making it possible to analyze or manipulate encrypted data without decrypting it.

Since most data theft occurs while data is being temporarily decrypted for us or stored as plain text, homomorphic encryption allows anyone to perform operations on data without the need to first decrypt it –– making the entire system safer from data theft and privacy violations.

The risk of privacy leakage of sensitive information in complex IT systems can’t be ignored, and there is a growing interest in applying homomorphic technology to provide data privacy and decentralized access to organizational data.

Applications of Homomorphic Encryption

In the real-world, homomorphic encryption has a number of practical, industry-relevant applications. From electronic voting systems to protecting information on the cloud to enabling private queries in search engines. Real-world applications for homomorphic encryption can include:

1. Securing Cloud Storage

Whether your organization uses a third-party cloud storage service or has only some data offloaded to the cloud, it’s critical to never fully trust the security of your cloud software-as-a-service (SaaS) provider.

It’s already well known that cloud storage isn’t always as secure as we’d like it to be. The remnants of which can still be seen from The Wall Street Journal’s investigation into the global hacking campaign called ‘Cloud Hopper.’

Not only does homomorphic encryption have the potential to secure data stored on the cloud, but it also retains the ability to calculate and search ciphered information that you can later decrypt. This is super important to safeguarding the integrity of your data as a whole –– a win-win scenario for security experts, organizations and customers.

2. Enabling Data Analytics

Homomorphic encryption allows safe and secure access to data for researchers. Without the need to decrypt, data can be encrypted and outsourced to commercial cloud environments for research purposes — all while keeping patient data secure.

Homomorphic encryption can be used for businesses and organizations across a number of industries, including but not limited to, finance, retail and healthcare. By allowing predictive analytic service providers to safely analyze medical data without putting data privacy at risk, homomorphic encryption is empowering research teams worldwide and the advancement of new technological developments.

3. Improving Election Security and Transparency.

It’s been a hot topic lately, but researchers are now looking into how to use homomorphic encryption to make democratic elections more secure and transparent. The Paillier encryption scheme, for example, uses additional operations and would be best suited for voting-related applications.

By allowing users to add various values in an unbiased manner, homomorphic encryption has the ability to keep these values private. This kind of technology has huge potential to not only protect data from unwanted manipulation, but also allow it to be used to independently verify results by authorized third-parties.

Hub Security’s Flexible miniHSM

Hub Security’s programmable HSM is a high-performance key management and cryptographic KMS solution built on FPGAs –– designed to protect against unique cyberattacks. Hub Security’s miniHSM is the first of its kind to offer a pocket-sized customizable HSM solution coupled with an ultra-secure HSM-to-HSM communication layer for air-tight security that can support any cloud-based or digital asset.

Learn More

Digital Wallet for Enterprises

We had the pleasure to host the webinar ‘Digital Wallets for Enterprises’ last week. On the event we hosted Vipin Bharatha, an industry expert for blockchain and digital assets, along side David Hochhauser, Hub Security’s CRO. See the full recording below  

Webinar Video – IoT Cyber Vulnerabilities, smart cities and beer

Last week Hub Security CTO, Andrey Iaremenko, discussed IoT cyber vulnerabilities. The topics discussed included also security risks with smart cities, cars and homes.See below the webinar intro to IoT, IoT vulnerabilities and the full webinar recording. 

Intro to IoT

IoT Cyber Vulnerabilities

IoT and Beer - Full Webinar

Scroll to top

JOIN OUR NEWSLETTER

Keep up with cyber security news!