Besides keeping data safe, this emerging tech could be a key trust builder for businesses [Fortune]
International Business Machines Corporation (IBM)
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Source: Fortune
Last year, 82% of breaches involved data stored in the cloud, IBM reports . The global average cost of a data breach in 2023: almost $4.5 million. Nigel Smart and his colleagues at Zama aim to do something about that—and ultimately, help businesses build trust. Smart is chief academic officer of the Paris-based cryptography startup, which specializes in fully homomorphic encryption (FHE). Let me try to explain that mouthful, with help from Smart. Typically, data is encrypted in transit and in storage—say, on a hard drive. But then that data—for instance, a batch of sensitive customer information—must be decrypted for processing. That leaves it vulnerable to theft. By contrast, FHE is end-to-end encryption that secures data while it's in use. The data itself is accessible only to the holder of the decryption key. In principle, a superior FHE engine could encrypt a query you type into Google, Smart says: “Google would do the search for you, not know what the response was, send th
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