Digital technology has revolutionised our economy and
social interactions in the last decade, transforming the
way we do business.
New channels have emerged for communicating with colleagues and customers, buying and selling products, and sharing our data. As more and more people use the internet day-to-day, execution speed has accelerated and the sheer volume of financial interactions have grown exponentially. This trend shows no signs of relenting.
While of widespread benefit to many, this revolution has led to technical vulnerabilities in our systems and confusion due to rapid business change, making us much more vulnerable to the activities of malicious cyber criminals.
But technology which does not empower customers and employees
fails to account for the core security vulnerability: people.
It’s no longer possible to simply react to cyber-attack events as they happen – and systems can mislead. Traditional intrusion detection systems and firewalls are not sufficient against determined cyber criminals operating at this global scale.
Whilst the emphasis has been on addressing technical vulnerabilities it only takes one click on a phishing email to unwittingly launch a rogue code behind carefully crafted lines of defence. And if it was obvious that an email was a phishing email most employees wouldn’t open it in the first place!
Five Islands is using blockchain and cryptographic encryption to enhance security, manage risk and protect data integrity in order to make online activity much safer.