TripleBlind Announces HIPAA Compliance for Its Cleanroom Solution

This week we announced that our rapid, efficient and cost effective data privacy and clean room solution has entered the $3.8 trillion health care market with the launch of a full suite of HIPAA compliant solutions. 

By eliminating manual anonymization and simplifying the compliance and legal processes around sharing data, healthcare organizations that use TripleBlind solutions can save significant amounts of time, resources and expenses. Additionally, TripleBlind’s patented automatic de-identification technology allows utilization of all the available data about a patient, including data elements that had to be stripped off during anonymization, without the possibility of identifying individuals through reverse engineering.

Riddhiman Das, co-founder and CEO of TripleBlind, said:

“Some of the largest healthcare data breaches of the past five years have single-handedly impacted as many as 80 million people – almost all of those breaches were outright caused by, or made easier, due to decrypted data,” said Riddhiman Das, co-founder and CEO of TripleBlind. “The healthcare industry still has much work to do concerning properly protecting patient data. TripleBlind’s clean room solution removes most of the risk. It is the only solution that enforces HIPAA compliance with every API call and doesn’t just rely on good-faith adherence to BAA.”

TripleBlind encrypts, and never decrypts, data or algorithms, allowing only approved operations to be executed. Its virtual clean room ensures compliance for all collaborating parties as they never share raw patient data. On the other side, data scientists can perform all the operations they ordinarily would without the risk of working with raw data.To learn more about how TripleBlind’s suite of tools enable healthcare providers to safely provide and consume extremely sensitive data and algorithms in an encrypted space, visit the health care page on our website or read the full press release.

TripleBlind Expands to South Asia and Australia for New Data Collaborations

Earlier this week, we were eager to announce our plans to expand to most of South Asia and Australia. We will enable enterprises to comply with the most current data privacy standards such as Singapore’s Personal Data Protection Act (PDPA) and the various data privacy and residency regulations in Indonesia, Malaysia and the broader SEA region. TripleBlind will initially be available through the ASEAN Financial Innovation Network (AFIN) API Exchange (APIX) Marketplace, a global cloud-based platform that enables financial institutions and fintech companies to discover one another on a curated global marketplace, design experiments collaboratively and deploy innovative solutions quickly at a lower cost. We have also joined the APIX Global Fintech Marketplace where a member can ideate on business problems and search for pre-built solutions. 

Additionally, to drive TripleBlind’s expansion into the Asia-Pacific region, we’re excited to announce that we brought in Alvin Tan as Director of Business Development, APAC. Alvin has nearly a decade of experience developing, executing and managing sales and business strategy in Asia, Australia and the U.S.

“Total worldwide data is expected to swell to 175ZB by 2025; the sheer volume of untapped data in the Asia-Pacific market has the power to create unprecedented growth opportunities for businesses around the world,” said Tan. “TripleBlind’s next-generation cryptographic, efficient and scalable data privacy and virtual clean room solution allows Asia-Pacific financial institutions and healthcare companies to stay compliant with different regulatory standards by preserving privacy and security of raw data.”

We look forward to the future as we extend our technology capabilities to different parts of the world working with different enterprises. We believe the opportunities TripleBlind has unlocked are endless. Just to name a few potential possibilities, we allow the ability for:

  • Fintechs to source data from competitive financial institutions to develop better financial crime detection algorithms.
  • Enabling insurance companies to develop more inclusive underwriting algorithms using the most granular data about a person without violating privacy.
  • Enabling banks to work with fintechs in a completely zero-trust manner, ensuring that the terms of the partnership agreements are provably enforced.
  • Biotech and healthcare AI companies to source richer, more diverse clinical datasets to develop sophisticated AI algorithms while respecting patient privacy.
  • Remote hospitals getting sophisticated diagnostic algorithms safely as well as more easily enforce compliance with local and regional privacy standards.

Our announcements don’t stop here, we have much more in the pipeline so be sure to keep tabs either on our website or Twitter and LinkedIn. In the meantime, if you’d like to learn more about TripleBlind’s offerings for the Asia-Pacific market, contact Alvin Tan at alvin@triplebilnd.ai or on LinkedIn.

We hope you’re having a great start to the new year!

Mayo Clinic Works with TripleBlind to Streamline Diagnosis Process

We were excited this week to announce a new collaboration between TripleBlind and the Mayo Clinic. Mayo plans to use TripleBlind’s solution to validate interoperability of encrypted algorithms on encrypted data and training of new algorithms on encrypted data. Our solution will enable Mayo and other health care systems to generate insights from highly regulated data without actually accessing the data – ensuring compliance with HIPAA and other standards.

Today, health care systems have to either transfer data or algorithms outside their institution for experts to train or conduct research. This process can take many months and typically involves complicated legal contracts and a significant amount of time from technicians. Our solution eliminates this step, further protecting intellectual property.

Suraj Kapa, M.D., a practicing cardiologist and director of AI for knowledge management and delivery at Mayo Clinic, noted:

“Training novel algorithms on encrypted data sets and facilitating trust between independent parties is critical to the future of AI in medicine. By using advanced mathematical encryption technologies, we will greatly enhance scientific collaboration between groups and allow for more rapid development and scalable implementation of AI-driven tools to advance healthcare.”

TripleBlind’s advanced mathematics toolset will allow Mayo to improve the current process by enabling Mayo technicians to perform diagnostic services using data wherever it resides. The collaboration focuses on three milestones. The first milestone includes validating that an algorithm already created and “trained” at Mayo can be delivered to remote hospitals and used locally to achieve accurate diagnoses. This milestone will also demonstrate that TripleBlind’s toolset provides accurate information and effectively enforces appropriate data privacy regulations such as GDPR, HIPAA, data residency regulations and other standards.

The second milestone will demonstrate that TripleBlind’s toolset can be applied to train an algorithm that resides at Mayo to access data remotely and provide diagnostic services. The third milestone will consist of demonstrating that TripleBlind’s solution can support any type of medical data and potentially genetic data in particular. Genetic data is especially difficult to aggregate since almost by definition it is impossible to deidentify using conventional approaches.

We are eager to work together with the Mayo Clinic to assist them in providing more and better services to health care systems around the country.

This news follows TripleBlind’s recent announcement it has received funding and marketing support from Accenture Ventures, the investment arm of global professional services company Accenture (NYSE: ACN). TripleBlind is applying this funding to further refine our solution.

We wish our colleagues, partners, investors and other friends of the company the best for the holiday season. We will have another announcement highlighting our growth in early January, please check back then.

Stay Tuned! Leading Global Professional Services Company Invests in TripleBlind

In about 10 days, we will have a significant announcement. The VC arm of a leading global professional services company will invest in TripleBlind and greatly accelerate our growth by connecting us to their ecosystem of companies and expertise.

Our new investor was eager to enter the data privacy space and organized a global review of the companies in the space. After a thorough review, they chose TripleBlind, noting that our solution is much more effective than the workarounds available today – complex legal contracts, data anonymization/de-identification and cumbersome alternative technologies, such as homomorphic encryption. For an example of how our solution works, please have a look at our recent blog.

Some of the obvious problems with these workarounds include:

  • Complex legal contracts often contain terms that are limiting and/or include liability clauses that are so onerous that companies are unwilling to enter into them, thus negotiations are typically expensive and require months to complete, despite the potential collaboration benefits
  • Data anonymization/deidentification is hard to execute well. It is ineffective if it doesn’t meet three criteria: individualization (it must not be possible to identify an individual), correlation (it must not be possible to cross-check multiple data sets to identify an individual), and inference (it must not be possible to deduce information about an individual from the data set)
  • Other technologies: Homomorphic encryption is a slow process that dramatically taxes compute performance. Differential privacy introduces inaccuracies to the eventual calculation. Secure enclaves are hardware dependent, do not support AI/ML at scale, are susceptible to known hacker attacks and not easy to update.

Shortly after announcing this large investor, we plan to announce new funding by several experienced VC firms and veteran angel investors. In fact, this pre-seed round was oversubscribed.

What is generating so much interest in our solution? Today, IBM estimates that enterprises fail to utilize as much as 93% of their data to generate incremental revenue by collaborating with customers, partners and even competitors. This is typically regulated data, such as PII and PHI, or mission-critical enterprise data such as tax returns and banking transactions. Our solution enables enterprises to unlock the information and insights within this data (note I didn’t state the data itself) while remaining in compliance with GDPR, HIPAA, CCPA (California Consumer Privacy Act) and similar regulations.

At TripleBlind, we think the better answer is mathematically enforced cryptography that doesn’t rely on laws or outdated technology, but rather privacy that is built into the protocol. We are working to “build in” privacy preservation and we want to give enterprises the keys to either lock or unlock their data as they see fit.

We are excited to apply these investments to complete product development and testing, and bring our solution to the over $500 billion data analytics market.

Stay tuned for upcoming announcements of major new customers!