During the last five years, the amount of data produced around the world has multiplied quickly. Analysts at IDC predict that by 2025, global data usage will reach an astounding 163 zettabytes. Enterprises have needed to quickly find ways to harness this data for business, enrichment and analytics benefits.
Mass amounts of data have made breaches and personal identity compromises a common occurrence, compelling business and healthcare entities to adopt their own version of regulations surrounding data collaboration, like HIPAA. Additionally, more countries and states around the world are creating separate, geo-based data privacy regulations. This year, in the United States alone, two states signed new data privacy regulations into law and seven others introduced pending privacy laws. Internationally, Brazil’s first comprehensive data protection regulation became enforceable August 2021 and China’s Personal Information Protection Law will enter into force in November 2021.
Companies are now required to ensure cybersecurity aspects of stored data, and compliance and governance surrounding data sharing. The pace of technology and its advancements is fast, but the regulatory and legislative process is slow, making it difficult for enterprises to ensure they are always collaborating compliantly.
TripleBlind’s CEO, Riddhiman Das, recently spoke with Jerry Buckley, a founding partner of Buckley LLP, and Jody Westby, a prominent data security consultant, for the ADCG Podcast to discuss the rapid evolution of data management and data governance.
Das suggests that U.S. regulators can more accurately keep up with the rapid change in data worldwide by creating a simplified, overarching federal regulation for data collaboration.
“Today enterprises are facing a hodgepodge of state privacy regulation, the main specific privacy regulation, and those often don’t have a lot of overlap. That is a significant hindrance to data liquidity,” said Das. “If data is the new oil, it is not flowing because of the inability to have clarity on how to make the data liquid.”
TripleBlind’s solution makes it possible for enterprises to share data collaboratively while ensuring they remain compliant with every data privacy regulation across borders and industries. TripleBlind is the only mathematically proven, privacy-first and privacy-centric approach to collaboration. Data can never be re-identified once it is shared and can only be used for its intended purpose.
Any data privacy regulation can be laid on top of TripleBlind, and it will act as the digital rights and rules of the data trade. This approach ensures that data remains private, but can also only be used for operations that are compliant with whatever regulations are in place for the transaction.
The previous expectation for companies was to “not be evil” when it comes to data sharing. By eliminating any possibility for data misuse, companies “can’t be evil” when collaborating through TripleBlind. TripleBlind unlocks the possibility for enterprises to remain safer and more compliant than they would be if they were collaborating through various competing solutions for data sharing.
To listen to the full ADCG Podcast episode featuring Das, please visit HERE.
If you’re interested in learning more about how TripleBlind can help you unlock compliant data sharing across borders and enterprises, schedule a call or demo at firstname.lastname@example.org.