Paperclip SAFE® Awarded Patent for Secure Data Processing
- Paperclip's patent for developing a secure method for data encryption using multiple techniques could positively impact its stock price as it enhances data security and addresses shortcomings of current measures.
- Paperclip SAFE® leverages Searchable Symmetric Encryption (SSE) and patented shredding protocols to provide fast and complex encryption for data queries, which could attract more customers and drive growth.
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Paperclip was awarded Canadian Patent No. 3,087,924 to protect its proprietary data encryption process
HACKENSACK, N.J., Sept. 20, 2023 (GLOBE NEWSWIRE) -- Paperclip, Inc. (OTCMKTS:PCPJ), an innovative data security and content management company, was awarded a patent for developing a secure method for processing data using multiple encryption and hashing techniques. This is the second patent for Paperclip SAFE® and the eighth international patent for Paperclip Inc. in addition to three U.S. patents. In addition, Paperclip SAFE has one U.S. patent and six foreign patents pending.
Paperclip SAFE® leverages Searchable Symmetric Encryption (SSE), patented shredding protocols and Privacy Enhancing Computation to go beyond what companies currently know about data encryption. SAFE is fast, searchable, complex encryption designed for the way data is queried.
“Paperclip built the missing piece that has been holding back the wide adoption of searchable encryption,” said Mike Bridges, President and COO of Paperclip. “This is transformative for the future of data security—an always-encrypted data security platform that works at the speed of business.”
Academia for the past ten years has been working with the concept of SSE, whereby some of the data (non-sensitive, transactional, or simple data) remains in plain text and the rest (sensitive, private, and controlled data) is always encrypted. The negative to SSE has been its inherent leakage, or access to both the plain & ciphered text within the same string, which could lead to its eventual decryption. For years cryptologists have been working to eliminate that leakage—and Paperclip’s encryption technology detailed in this patent does just that.
Paperclip’s Shredded Data Storage model (SDS) addresses many of the shortcomings of current data security measures while achieving Perfect Secrecy best practices to protect data by eliminating leakage, according to the Patent.
Whereas traditional solutions decrypt data to support search or query functions, Paperclip SAFE enables search with fully encrypted data without ever decrypting. Built on a foundation of Zero Trust, Paperclip’s patented technology goes beyond best-in-class encryption for another layer of critical protection—shredding data, storing each shred only once and breaking context, resulting in probabilistic encryption of data, then applying complex AES256 encryption to each shred.
“Paperclip’s SAFE is the only platform that delivers high-speed, on-demand, always-encrypted protection,” Bridges said. “Our intuitive shredding technology removes sensitive data from unauthorized search for more secure data exchange and third-party collaboration. It’s the only platform to encrypt and secure data in all points of your data lifecycle. If you want to achieve comprehensive data security, Paperclip SAFE is essential.”
About Paperclip, Inc.
Paperclip is a proven technology partner that continues to revolutionize data security, and content and document management for Fortune 1,000 companies worldwide. Every second of every day, our innovative solutions are securely processing, transcribing, storing, and communicating sensitive content across the internet. Paperclip has a decades-long reputation for maximizing efficiency to save millions annually, while maintaining absolute security and compliance. For more information, visit paperclip.com.
CONTACT
Megan Brandow, Director of Marketing & Communications
Paperclip, Inc.
(585) 727-0983
mbrandow@paperclip.com
