C Donald Robinson, CEO
Trusted data has proven to be the lifeblood of the digital economy. However, securing that data and ensuring that it has not been tampered has been two of the primary obstacles in realizing the potential of innovation in the information age. When massive amounts of unencrypted data are concentrated inaccessible and outdated platforms, hackers expend relatively little effort to exploit it and net a massive gain. Craxel defines this as an asymmetric data risk. Asymmetric risk is the concept of taking a risk that will produce a return that far surpasses the risk taken. Hackers currently benefit when their actions cost them little, but the financial impact of the attack is great. Enterprises cannot truly realize the value of their data when this is the status quo.
The ideal solution to enable data value creation is an easily scalable data infrastructure that eliminates both asymmetric risk and privacy risk while making information rapidly accessible to only those that should have it. “The wake of continuous data breaches and other nefarious activities have eroded digital trust. This uncertain environment today will force organizations to redefine how they protect sensitive data,” says Donald Robinson, CEO of Craxel.
This is precisely where Craxel comes in with a market-ready secure data trust platform backed by searchable encryption: the Black Forest Digital Trust Platform (BFDTP). The BFDTP introduces the only high-performance production-ready database with breakthroughs in searchable encryption, to enable organizations to encrypt data when it is created and store it in a fully encrypted form in the cloud, or on-prem, without sharing the keys with the data platform. However, enterprises can search the encrypted data without decrypting it. As a result, if an attacker breaches this platform, the only thing they get is encrypted data, which eliminates the asymmetric risk. Robinson goes on to say, “Now enterprises can de-risk their digital transformation initiatives. Loss of data control and exposure in the cloud no longer needs to delay useful cloud migrations.” BFDTP also provides more cost-effective opportunities to improve on legacy ecosystems. Maintaining compliance with dynamic privacy and security regulations becomes easier and cheaper because encrypted data is easier to secure than putting porous moats around legacy databases.
Craxel developed this platform by first developing new mathematical techniques to index records in multiple-dimensions. This innovation led to an entirely new distributed data management architecture that could achieve a massive scale.
By rewriting some of the decades old theory on databases, we revolutionize the way information is managed and secured and thus, keeps organizations’ information safe, accessible, and trustworthy at an incredible scale
Craxel has tested millions of transactions per second on 33 simple cloud VM’s. Recognizing the potential of low latency, highly scalable transactions, Craxel added innovations around massively parallel consensus to create resiliency in the data layer and keep replicas in sync across different datacenters with millisecond latency. The unique combination of these innovations means that strongly encrypted records can now be indexed and searched at a massive scale, with maximum resiliency, while still mitigating advanced attack vectors like inference attacks. “We built this platform from the ground up to solve some of the most daunting issues in data security and analysis today. By rewriting some of the decades-old theory on databases, we revolutionize the way information is managed and secured and, thus, keeps organizations’ information safe, accessible, and trustworthy at an incredible scale,” says Robinson. Craxel is currently proving out the breadth of these capabilities by designing new information-sharing capabilities and incorporating support for artificial intelligence into their platform to provide more opportunities to monetize data and securely exchange information.
As enterprises struggle with asymmetric risk in initiatives such as cloud migration and privacy regulations, Craxel has found use cases across different verticals for organizations seeking a competitive advantage in the new digital economy. Robinson cites the example of an organization struggling with GDPR: “Our client needed to simplify compliance with many international regulations while mitigating data privacy risk with the scale required for worldwide operations.” Similarly, in a separate client in financial services, Craxel’s BFDTP’s cryptographic compartmentalization of data, along with its massive scalability, enables a global bank to provide security, regulatory compliance, and limit data exposure while hosting their mission-critical data in a cloud infrastructure. “With their near-term pain of data security and exposure relieved today, now the client can focus on their strategic innovations they need to implement,” says Robinson.
“Looking ahead, our vision is to deliver a robust data platform with data security, scalability, and resilience built in a way that has never been done before to relieve the tactical pain-points of our clients so they can focus on the future,” states Robinson. The status quo of letting hackers have the upper hand in data breaches can now be a thing of the past.