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Data security is the biggest threat to consumer electronics, according to Simon Bain, CEO and founder of OmniIndex

August 2023 by Simon Bain, CEO and founder of OmniIndex

Data security is the biggest threat to consumer electronics, according to Simon Bain, CEO and founder of leading web3 data platform, OmniIndex and developer of the secure web3 storage app, Dropblock.

“From the biggest rocket to the smallest adult pleasure aid, all devices are at risk of attack,” says Simon Bain, OmniIndex CEO.

According to reports, as many as one in three Americans have their data breached each year, while a study from last year suggested that over 70% of German organizations had suffered at least one successful cyber attack in the previous 12 months. And while it is the larger incidents that make the headlines, nearly 50% of attacks are targeted at smaller businesses and startups.

As such, the question has to be asked: Are you next?

“However good your new product is, it will fail if it’s using outdated and vulnerable infrastructure,” explains Simon Bain, CEO of OmniIndex. “This is because consumers are getting fed up with companies putting their data at risk.”

Indeed, according to a leading Privacy and Consumer Trust report, a majority of global consumers say they were impacted by a data breach that targeted a company they were a customer of. More than 80% of those affected then went on to state that they are likely to stop doing business with those companies after the attacks.

“Instead,” continues Bain, “consider your options when looking for a data platform or data storage and choose technology that actually protects you and your data from the ransomware and data leaks that are overwhelming legacy infrastructure in 2023.”

OmniIndex, exhibitors at IFA Next, are currently working with companies in education, healthcare, and ethical AI to ensure their products and services are protected from attack and that their customer’s data is safe.

For example, Nasira Mohsin, co-founder of health and wellbeing company Health Innovation Hub, is using OmniIndex’s Web3 Data Platform to protect her customer’s data from attack while still ensuring its accessible to analytics:

“This means we can provide personalized health insights to our customers without any of their private data being exposed!” Mohsin explains. “What’s more, it’s being integrated seamlessly into our app thanks to OmniIndex’s API.”

The enhanced security and data privacy OmniIndex provides comes from their innovative use of immutable blockchain data storage, patented fully homomorphic encryption enabling encrypted data to be searched and analyzed, and their in-house AI engine which constantly scans for breaches and responds to threats in real-time.

“It doesn’t matter what type of product you have,” concludes Bain, “if you store or use private customer data then you have a responsibility to keep that data safe. It’s therefore crucial that you choose a data platform that will actually help you look after that data as at the end of the day even if they’re to blame, it’ll be your name in the headlines.”

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