Data Encryption: A Security Boosting Mechanism
In the digital age, data encryption has emerged as a crucial safeguard for protecting sensitive information. This process converts readable data into an unreadable format, shielding it from unauthorised access. Its real-world applications span various sectors, including safe browsing on the web, private messaging, email, and the protection of sensitive data in healthcare, law, and journalism.
Two primary types of encryption are in use: symmetric encryption, which employs a single key for both encryption and decryption, and asymmetric encryption, which utilises a public key for encryption and a private key for decryption. However, homomorphic encryption, a relatively new development, offers significant benefits for enhancing data security.
Homomorphic encryption provides two key advantages: confidentiality and integrity. Sensitive data remains encrypted throughout the computation process, ensuring confidentiality, particularly in collaborative environments where data is shared with third parties for computations without revealing the actual data. Moreover, homomorphic encryption ensures that computations performed on encrypted data are accurate and reliable, maintaining the integrity of the data.
One of the most significant benefits of homomorphic encryption is its ability to enable secure outsourcing of computations. Organisations can outsource computations to cloud providers without compromising the security of their sensitive data. This is achieved by encrypting data before sending it to cloud services, allowing computations to be performed directly on the encrypted data.
Homomorphic encryption also aids in compliance with data protection regulations such as GDPR and HIPAA by ensuring that data remains secure and encrypted throughout the computation process. Furthermore, it facilitates enhanced collaboration and innovation by allowing organisations to share sensitive data without exposing it, accelerating innovation while protecting sensitive information.
Homomorphic encryption also boasts flexibility and scalability, allowing for secure data processing in various environments, including cloud computing, which is beneficial for scalability and flexibility. Additionally, it is being utilised in machine learning and AI, facilitating secure machine learning and AI computations on sensitive data, such as predictive analytics and natural language processing, without decrypting the data.
In a study by IBM, the average cost of a data breach in 2023 was found to be $4.45 million. However, businesses that implemented robust encryption saved an average of $1.4 million per breach, according to the Ponemon Institute. As the shift to electronic communication and digital storage has introduced new risks, homomorphic encryption emerges as a key component of Privacy Enhancing Technologies, transforming how organisations can leverage data while ensuring the highest levels of privacy and security.
Technology and data-and-cloud-computing have taken a significant leap forward with the emergence of homomorphic encryption. This revolutionary encryption technique enables secure outsourcing of computations, allowing organizations to leverage cloud services without compromising the security of their sensitive data. Moreover, homomorphic encryption facilitates compliance with data protection regulations and enhances collaboration and innovation, making it a key component of Privacy Enhancing Technologies in the digital age.
