i2Chain has launched a SaaS-based information security solution that allows enterprises to share confidential and sensitive documents across organizations. In an interview with CIOReview, Ajay Jotwani, Cofounder & CEO of i2Chain, introduced the company by saying, “i2Chain is an easy to use, intuitive SaaS application that enables enterprises to securely share & transact information with integrity and confidence .”
While preparing for the next big release, i2Chain has partnered with Tech Mahindra, a Forbes 100 digital company, to leverage next-gen technologies to secure customer information. Rajesh Dhuddu, the Global Practice Leader of Blockchain at Tech Mahindra says, “As a key initiative of TechMNxt charter, the i2Chain partnership enables securing information, providing traceability and transparency of transactions and ensuring compliance in the era of heightened regulations for global enterprises .”
Mr. Jotwani adds, “i2Chain’s design empowers enterprises to comply with new privacy laws by enabling auditability and recording every action performed on a document throughout its life cycle in an immutable ledger”.
As the technology landscape keeps changing, hackers remain on the constant prowl to dig into ‘gold mines’ of unprotected data. The most vulnerable information for any brand is present in unstructured data that is shared via emails, attachments, images, and reports. Over 80% of all potentially usable sensitive business information such as company financials, IP, confidential contracts, and PII originates in this unstructured form.
Darren Sandford, an expert in computer networks, cyber security and an advisor to i2Chain says, “The information security is a complicated endeavor due to a multitude of significant obstacles, such as staff and consultants utilizing their unsecured personal devices from uncontrolled networks; incessant advances in technology and techniques to gain access to confidential information; personnel not adhering to security policies while building, operating, or altering systems; and finally, human error.”
i2Chain’s chaining mechanism ensures added security to information. Local drives, cloud storage drives, and the content management systems can be integrated with i2Chain in a way that functionally resembles a secure ‘chain’ around the documents.
As a key initiative of TechMNxt charter, the i2Chain partnership enables securing information, providing traceability and transparency of transactions and ensuring compliance in the era of heightened regulations for global enterprises
The access rights that are set by the originator of a document are enforced as the document flows in the system. The core identity management component ensures that users who interact with the document are duly verified and authenticated, and then granted the appropriate rights. Lastly, the solution tracks the trail of a document flow across devices and between untrusted parties. Along with other state of the art functionalities, immutable traceability gives i2Chain application an unprecedented edge over other platforms available in the market today. “Immutability is a tricky concept to establish the sequence of events, requiring that one-way hash functions remain one-way for eternity, which hasn’t been true for the selected hashes of the past few decades,” says Mark Manasse, Chief Cryptographer at i2Chain.
The team behind this promising offering are SMEs from companies like IBM, Oracle, Salesforce, and VMware. They are all set to revolutionize the approach towards protecting unstructured data, starting with the financial and healthcare spaces. The product is expected to be released for general availability in February 2020.