Technology

MIT’s platform for companies to confidentially address cybersecurity concerns

The system can help top management understand how secure their company is compared to its peers.

The system can help top management understand how secure their company is compared to its peers.

A data aggregation platform, helps companies identify and measure security risks without needing to disclose information about their own attacks and losses to anyone – including their own scientists.

The platform, developed using multi-party computation method, allows the company to perform calculations on data without being able to read or unlock it. This way, the data remains secure, a statement by Massachusetts Institute of Technology (MIT) said.

Secure Cyber Risk Aggregation and Measurement (SCRAM) allows firms to contribute locked data that would otherwise be too sensitive or risky to share with a third-party.

The system can help top management understand how secure their company is compared to its peers. It can also evaluate if the company is spending the right amount of money on security and how it should change security priorities.

This came after researchers realised that most companies do not disclose vulnerabilities in fear of losing customer trust or competitors gaining insight into its security practices.

The researchers collected data over a two-year period from companies having an average revenue of $24 billion and an average of 50,000 employees. After scanning it through the SCRAM system, they could identify security failures that led to monetary losses.

The companies were involved in healthcare, communications, retail service, and financial sectors.


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Printable version | Aug 15, 2022 2:47:30 pm | https://www.thehindu.com/sci-tech/technology/mit-launches-new-platform-to-help-companies-address-cybersecurity-concerns/article32542856.ece