Software company specializing in data security solutions, Futurex, is offering a key management solution in the cloud for users, based on its Reinforced Business Security Platform; the firm has noted in an exclusive statement to Cointelegraph.
With this shared code and API functionality, organizations using Futurex products will be able to integrate end-to-end cloud key management across their entire crypto ecosystem.
Encryption key management is the administration of processes and tasks related to the generation, storage, protection, backup and organization of encryption keys in a cryptographic system. This involves all processes from cryptographic protocol design, key server design, user procedures and other relevant processes used in cryptography.
Data encryption is a procedure in which digital data is converted into non-interpretable information by using algorithms that require an encryption key to encrypt and decrypt digital data messages. The more data that is protected, the more important the encryption keys and their proper management become.
In the crypto ecosystem, data encryption is one of the fundamental aspects in the efficient and secure management of assets at stake in users’ non-custodial wallets.
With many hacks in the crypto ecosystem occurring on a regular basis, data encryption and key management are a challenge to which many organizations are constantly offering solutions, largely based on the BYOK (Bring Your Own Key) philosophy, which in Spanish means “Bring Your Own Key”.
With BYOK, organizations can encrypt data within cloud services with their own keys. This most often applies to public clouds like AWS, Google Cloud Platform, Azure, or in cloud service offerings like sales force.
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So organizations can ensure that their compliance and reporting requirements are fully adequate, with keys generated within a FIPS 140-2 Level 3 hardware security module (HSM).
Futurex has been one of the companies providing the most reliable enterprise-class data solutions, using BYOK methods, as disclosed to Cointelegraph. Thanks to its cryptographic system, which manages encryption keys, it would allow small and large companies to reduce costs.
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