Understanding Cryptography: A Key Asset in Today’s Digital Age
1. Definition
In the broad and complex world of cybersecurity, ‘Cryptography’ stands as an essential pillar. Simply put, cryptography is the science of secure communication, presented in codes that are so advanced, they are nearly impossible to crack by unintended recipients. For business leaders, it’s crucial to understand that cryptography is your invisible bodyguard against potential cyber-threats and data breaches.
2. History
Cryptography has a rich and riveting history, dating back to ancient civilization. The Egyptians used it to conceal important messages as early as 1900 B.C. In World War II, cryptographers played a pivotal role in securing military intelligence, leading to some significant turnarounds in the war. Today, the art of cryptography has evolved with the advent of technology and now guards our most sensitive online interactions, from protecting confidential corporate data to securing online banking transactions
3. Examples
- Equifax Data Breach: The infamous breach of 2017 compromised the personal data of nearly 147 million people, resulting in downtime, loss of reputation, and a whopping $700 million in settlement charges. Equifax’s failure to properly encrypt sensitive data was a primary reason behind the incident.
- Yahoo’s Hidden Data Breach: In 2013, Yahoo failed to adequately encrypt users’ passwords and security questions. This led to the biggest data breach in history with a record 3 billion user accounts affected, causing serious reputational damage and financial losses to the tech giant.
4. Insight
One actionable step you can take today to leverage the power of cryptography is using Secure Sockets Layer or SSL for your websites. This technique encrypts the data shared between a user’s browser and your website, ensuring the privacy and security of sensitive user information on your platform.
5. Call to Action (CTA)
Understanding that cybersecurity isn’t optional in today’s digital business ecosystem can be the first step in safeguarding your business. To learn more about how your organization can benefit from our security assessments, strategic IT consulting, or Fractional CISO services, feel free to reach out for a free consultation. Embrace the power of cryptography with us, ensuring the security and privacy of your business transactions.