87% of Companies to Increase Investment in Encryption Technologies in 2024

Rhea-AI Summary

Everything Blockchain Inc. co-sponsors a study on encryption and key management with ESG, revealing increased adoption of encryption solutions in 2024. Key insights include organizations adopting cryptographic programs, increasing encrypted data usage, transitioning to post-quantum cryptography, and allocating larger security budgets for encryption.

Positive

• Organizations have adopted a cryptographic program with 71% implementing a well-defined cryptographic policy.
• 68% of organizations use data encryption to protect cloud-based sensitive data.
• Over 50% of organizations have a post-quantum cryptography program in place for faster, more secure encryption.
• Nearly 75% of organizations budget for encryption use, with an additional 20% projected to join in 2024.
• EBI's EB Control platform provides innovative encryption and key management solutions for data protection across various devices and browsers.

Negative

• None.

ESG report highlights data exposure and operational efficiency as key drivers behind adoption of comprehensive encryption solutions

Jacksonville, Fla., Feb. 29, 2024 (GLOBE NEWSWIRE) -- Everything Blockchain Inc., (OTCMKTS: EBZT), a technology company that is blending blockchain, DBMS and Zero Trust to deliver disruptive new ways to store, manage and protect data, recently co-sponsored a study with Enterprise Strategy Group (ESG) on encryption and key management. The report surveyed 387 IT, compliance, DevOps, and cybersecurity professionals involved with encryption and data security technology and processes. It details the use and current understandings of encryption and key management within organizations and highlights the challenges they’ve encountered when implementing encryption.

As threat actors continue to find new ways to breach organizations and leverage their data for profit, it’s imperative that data security strategies adjust with them. This report provides an in-depth look into the growing need for encryption within organizations, including sensitive data identification, where organizations are housing data, programs and policy adoption, and the expansion of encryption adoption in 2024. A few key insights from the report include:

• Organizations have adopted a cryptographic program – 71% of organizations have adopted a formal program with 50% of those organizations applying a well-defined and articulated cryptographic policy across their entire organization.
• Organizations are increasing the amount of encrypted data they have – 68% of organizations use data encryption to protect their cloud based sensitive data.
• Organizations have begun to replace their current encryption with post-quantum cryptography (PQC) - Over 50% of organizations have a post-quantum cryptography program in place as it provides faster more secure encryption.
• Encryption is garnering a larger share of the security budget in 2024 – Nearly 75% of organizations budget for encryption in use and another 20% are projected to join them in 2024.

“Data exposure, ransomware, and the need for operational efficiency are all driving significant investment into the data encryption market in 2024,” said Toney Jennings, CEO of Everything Blockchain Inc. “Encryption and key management are critical parts of a company’s cyber-resilience and compliance strategies and EBI is proud to be paving the way for innovative data security measures that will keep companies safe and their data secure, now and in the future.”

Setting a new standard for enterprise-grade data protection, EBI’s EB Control platform addresses these challenges, providing organizations with innovative and easy to use encryption and key management solutions. EB Control delivers zero-trust data protection to any size company, without the cost or expertise typically required to manage it. The EB Control solution can be used on Windows, macOS, iOS and Android. It can also be used via a device’s browser by going to app.ebcontrol.io.

To learn more about how EBI is helping companies maintain complete control over their data in 2024 and beyond, visit: https://ebcontrol.io/

About Everything Blockchain Inc.

Everything Blockchain, Inc. (OTCMKTS: EBZT) is on a mission to ensure every organization has access to the tools and platforms that enable them to manage, store and protect data without the cost and complexity that holds them back today. Our patented advances in engineering deliver the essential elements needed for real-world business use: speed, security, and efficiency. Everything Blockchain builds platforms of trust for the modern enterprise. Our current lines of business include: EB Advise, BuildDB and EB Control. For more information, please visit https://www.everythingblockchain.io/

Forward Looking Statements

This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of blockchain and zero trust- based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.

FAQ

What is the ticker symbol for Everything Blockchain Inc.?

The ticker symbol for Everything Blockchain Inc. is EBZT.

What are some key insights from the ESG report on encryption and key management?

Key insights include organizations adopting cryptographic programs, increasing encrypted data usage, transitioning to post-quantum cryptography, and allocating larger security budgets for encryption in 2024.

How many organizations have adopted a cryptographic program according to the report?

71% of organizations have adopted a cryptographic program with 50% applying a well-defined cryptographic policy.

What percentage of organizations use data encryption to protect cloud-based sensitive data?

68% of organizations use data encryption to protect cloud-based sensitive data.

What is EB Control platform and what does it offer?

EB Control is EBI's platform providing innovative and easy-to-use encryption and key management solutions for data protection across various devices and browsers.

What is the CEO's statement regarding data encryption market investment in 2024?

Toney Jennings, CEO of Everything Blockchain Inc., mentioned that data exposure, ransomware, and the need for operational efficiency are driving significant investment into the data encryption market in 2024.