TripleBlind co-founder and COO, Greg Storm, presented at Kisaco Research’s Privacy Enhancing Technology Summit in Boston! In case you missed it, here’s a quick recap:
TripleBlind believes that adoption of Privacy-Enhancing Technology (PET) by businesses will increase 10x over the next 18 months, but why and how?
PET has been around for a while, but the adoption rate has been slow for organizations with concerns over data privacy and industry regulations. In major sectors, like financial services and healthcare, there have been many barriers and flaws with technologies that have made it difficult for businesses to enable secure data processing, sharing, cross-border transfers and analytics, while remaining compliant with stringent regulations.
Gartner recently recognized PET – also known as Privacy-Enhancing Computation (PEC) – as a strategic technology trend that will have a broad impact on businesses in 2022. This lays the foundation for PETs to become a more widely known and established category. Why is this important?
Latent Demand Is Everywhere
There’s an increasing number of regulations and growing concern around data collaboration and reducing the risk of data breaches. PET’s, including TripleBlind’s innovation, has the ability to transform how businesses can securely share data while ensuring data privacy.
There’s no question the potential market is huge, but many businesses have yet to recognize how today’s technology can deliver real value by offering new ways of secure data sharing in the future.
Enabling Technologies Abound
Secure enclaves, tokenization, differential privacy, homomorphic encryption, multi-party compute are all viable privacy-enhancing technologies. But confusion exists as to where and when these strategies are best utilized. Many potential customers with the authority to purchase often struggle to evaluate the accuracy of compliance and efficiency claims by PET vendors. Understanding the difference between the 7+ different kinds of PETs is the first step in evaluating solutions.
Acceptable User Experience
Businesses might have vetted their options and chosen the best PET solution for their use case, but then what? PET doesn’t have to be a “killer app,” but it does have to solve a real business problem in a way that most can understand. PETs can’t go mainstream until a “regular user” can use it, and can solve a real business problem in an eloquent way.
Where Do We Go From Here?
The future is massively collaborative and private. For PETs to gain wide-spread adoption we must define industry standards, emphasize why they are important for business growth, and educate customers and partners on how PETs address their data privacy problems so that informed decisions can be made about technology investments.
TripleBlind is largely being used by healthcare, financial services, government and other organizations, and has dozens of documented use cases. We offer a free demonstration of the TripleBlind solution to showcase why it checks off all the boxes and to prove why it’s needed for business growth.