By Bob Michaud
Last week I wrote about Q2’s multi-layered security approach. This approach keeps your customers safe while protecting against brand fraud. This week I will discuss how Q2 protects your brand by discussing a new innovative security layer.
Last year there were over 100 major data breaches, meaning the business had to report it to their customers and board of directors. When you look at this list of capable companies, with capable staff and capable technologies, it’s shocking to consider the severity of the data breaches. This can be terrifying for people responsible for protecting data.
There were over 100 major data breaches in 2018. This can be terrifying for people responsible for protecting data.
At Q2, we think about data security and protecting our customers a lot. It may seem a little oxymoronic – but the best way to secure data is to make sure you don’t have the data. The challenge then becomes: how do you run a business without data?
I decided to reach out to our Chief Information Officer Lou Senko to get him to discuss some of the things we’re doing in the data security space that may be interesting for you to take to your teams. Lou helped me answer the question of running a business without actually having data. He used the analogy of his 3-year-old son and the challenge he and his wife have with hiding cookies from him.
Lou said, “Let’s say you bring home cookies from the store. You put them on the counter, you leave them on a table, and some of them you even display nicely on a plate. Well, my son just happens to be a professional cookie thief. So, when his mom brings home cookies, we must act differently, knowing we have a cookie thief in our own house. We must protect the cookies, hide them, and know where they are at all times. The second we turn our backs they’ll be gone and we can’t get them back.”
Q2 TrustView, the next evolution of our security layer, uses blockchain technology to protect the data (think cookies) stored in Q2’s databases. Blockchain is an amazing technology that can essentially hide data to help mitigate the risk of a data breach. This blockchain technology allows Q2 the ability to encode, obfuscate, and then fragment data across multiple blockchains and provides a “vault” where no one can access the data behind it.
Blockchain promises to reshape industries by enabling trust, increasing transparency, and reducing friction across business ecosystems—but most of the potential business use cases of blockchain are yet to be proven. However, one use case that is proving to be valuable is security.
Join me next week as we discuss how Q2 protects your brand with our multi-layered security approach by detecting anomalous transactions.
Thank you and Happy Cyber Security Month.