It seems like End-to-end encryption (E2EE) is the latest buzzword that everybody is focused on these days. E2EE is the process or system of encrypting and decrypting messages and data so that unscrupulous parties cannot intercept them. The data inside a communications tool is in a format that is only known to the parties involved in the encryption process.
As the market for mobile and public cloud computing services has evolved there has been an exponential increase in data breaches globally and encryption has gone from being “nice to have “in regards to data security to the new norm. Organizations worldwide are being forced to adopt data safety and privacy measures in order to meet new compliance regulations that are being introduced by governments at all levels.
Data has not only become the new currency for doing business but many businesses use it as a competitive advantage. As the technological landscape changes to meet the needs of businesses and consumers and the availability of data has increased, the need for data security and privacy will only grow.
Make no mistake; there is a significant financial and business cost to a data leak. And those costs will only increase over time. CNBC reported that the average cost of a data breach for a business was $4 million in 2016 which is an increase of 29 percent since 2013. On average the $4 million loss can be averaged out to $158 per record but can increase to $358 per record in information sensitive industries such as health care. While the financial costs are high the impact that a data breach can have on the credibility that a company has with its customer can be higher. In addition, the type of information that hackers are able to access simply by decoding certain messages is growing, which is expected to increase beyond 2018.
More organizations are adopting mobile and software apps and software using end-to-end encryption, so that their customers can feel safer and more secure in storing and sharing their data, without having third parties know of the contents of their messages and data. One company that is making a difference in E2EE encryption is WhatsApp It has been widely reported the highly popular messaging app, is one of the leaders in E2EE encryption and while successfully building long-term relationships with customers and providing them with a sense of security that is essential to creating trust and loyalty.
While encryption technology has evolved, no system is 100 percent perfect and hackers are always discovering new ways to intercept data. Risks that occur such as the encryption key being stolen from a data hack from one end point device will always occur.
Small and large businesses and their customer can only benefit from E2EE helping them win in the marketplace. Companies that don’t dedicate to resources end-to-end encryption will gradually lose the hard earned trust of their customers and suffer long-term consequences due to their inability to act.
#Security #E2EE #encryption
Summary: In order to protect customers from data breaches and ensure security and confidentiality organizations must deploy End-to-end encryption (E2EE) solutions.