The Future of Secure Data Sharing: VEDS with Multi-Key Encryption

Every company is now a data company. As such, the ability to share and analyse data securely is not just an advantage but a necessity. Traditional data-sharing practices, while functional, often leave much to be desired in terms of security and data privacy, especially in highly regulated environments. 

Recognising these challenges, we at Vaultree are thrilled to announce a revolutionary solution: Vaultree’s Encrypted Data Sharing (VEDS) . VEDS allows you to share multiple encrypted data sets without ever having to decrypt the data. Gain insights without revealing any of your sensitive data across your company or with your vendors and partners.

The Need for Enhanced Data Security 

“By 2023, organisations that promoted data sharing outperformed their peers on most business value metrics” Gartner.

Organisations are increasingly dependent on data collaboration; however, as the rate and sophistication of cybercrime continue to grow, traditional encryption techniques have consistently struggled to offer a balance, typically forcing a choice between security and data usability. Vaultree's innovative approach with VEDS eliminates this compromise, providing robust encryption without sacrificing performance.

Current Challenges in Secure Data Sharing

1. Security Vulnerabilities: Traditional encryption methods protect data at rest and in transit but often require decryption for analysis, exposing sensitive data to potential security risks.
2. Utility Limitations: Ensuring data remains useful for analysis while encrypted is difficult. Many solutions compromise data utility for security, limiting the effectiveness of data-driven decision-making.
3. Compliance Complexity: Navigating the myriad of data protection regulations, such as GDPR and HIPAA, adds operational complexity and risk to current data-sharing practices.
4. Collaboration Barriers: Securely sharing data between entities while ensuring privacy and compliance often requires cumbersome processes to ensure complete security, hindering efficient collaboration.

These challenges underscore the complexities of inter-organisational data sharing, underscoring the urgent demand for an innovative solution. VEDS is set to redefine collaboration, enabling unprecedented partnerships even among competitors.

What is Vaultree Encrypted Data Sharing?

VEDS is designed to facilitate encrypted data sharing between companies. This unique platform allows entities to upload their datasets using their own encryption keys and Key Management Systems (KMS), merging them into a unified database for combined data analysis. You never have to decrypt your data. Only the results of your analysis are ever decrypted.

A standout feature of VEDS is its support for Vaultree’s Fully Functional Data-In-Use Encryption (FFDUE™) solution, a groundbreaking innovative approach to standard Fully Homomorphic Encryption (FHE) implementations, enabling complex data analysis without sacrificing performance or the security of individual data points. 

Who Benefits from VEDS?

The VEDS  is specifically tailored for researchers, medical professionals, data scientists and other professionals who need access to aggregated data for analysis under strict privacy or regulatory constraints. Specifically, VEDS can be deployed in the following ways:

Industry

Our VEDS solution is perfect for businesses that navigate an intense regulatory landscape. Insights can be securely derived from PHI and financial data while preserving individuals' privacy. 

In Use

Competing financial institutions can securely share client information in a united battle against financial fraud, all while preserving their competitive edge.

Solutions

VEDS adds extra layers of security to collaborative ML frameworks such as federated learning, providing enhanced security while removing obstacles to insights.

VEDS: Revolutionising Data Sharing 

Seamless KMS Integration: Compatible with leading Key Management Systems (KMS) like HashiCorp Vault and GCP KMS, VEDS streamlines encryption key management.

Encrypted Data Analysis: VEDS supports encrypted uploads and SQL queries on combined datasets, maintaining the utmost security throughout the data analysis process and removing privacy concerns. 

The Future of Secure Data Sharing is Here!

VEDS is on a mission to transform how companies share and analyse data by providing a method for secure, encrypted data collaboration that upholds the highest standards of security and privacy. This innovative approach not only maintains data confidentiality and integrity but also enables insightful aggregated analysis, marking a significant shift in the way value is extracted from data.

Setting a new industry standard, VEDS offers a unique solution for encrypted data sharing and complex aggregated analysis powered by Vaultree’s Fully Functional Data-In-Use Encryption (FFDUE™) solution. This ensures that data remains encrypted throughout the analysis process, ushering in a new era of data security and transforming the competitive landscape of data collaboration.

Stay tuned as we delve deeper into VEDS' impact in our next post, showcasing how it enables organisations to easily achieve compliant cross-border data collaborations.