On growing cases of cybercrimes and online frauds, a newly launched Mumbai based startup Block Armour has introduced a cybersecurity protocol which is based on blockchain which will reclaim the cybersecurity problem in the country.
The startup was introduced by Narayan Neelakantan, former CISCO and Head of IT Danger and Compliance with India’s Nationwide Inventory Trade (NSE) and Floyd DCosta, who has a background in administration consultancy and spent 11 years at Capgemini.
As cybercrime has been escalating in unprecedented rate and costing million of damage, Block Armour aims to utilise the potential of blockchains to counter the growing cyber security challenges in a smarter, faster way and at a fraction of the current cost.
CEO, Narayan Neelakantam has over 16 years of work experience in CyberSecurity says, “We have emerging technologies like blockchain and TLS technology as well as architectures like the Software Defined Perimeter that can be effectively used to reclaim cybersecurity. That’s exactly what we are bringing together at Block Armour.”
Despite a significant rise in global IT security spending, Cyber security incidents continue to grow across industries with existing solutions struggling to keep pace. The total world expenditures for IT safety is $148.5 billion from $65.5 billion in 2013 to $83 billion in 2016 with cloud safety anticipated to develop by 50 p.c.
In order to promote themselves, Block Armor has released a promo code which will attract the audience.
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In an Interview with CNN, Neelakantam said: “There is a dramatic enhance in networked gadgets and the Web of Issues (IoT) has additional difficulties, whereas the usage of yesterday’s know-how to struggle cybercrime is compounding the difficulties. Cybersecurity challenges anticipated to get greater, bolder and extra complicated within the years forward.” Read more Indian Startup.