There has been a significant increase in popularity of smart, connected Internet of Things (IOT) devices in recent years. According to Business Insider Intelligence “The Internet of Things 2020 premium research report”, there will be more than 41 billion IoT devices by 2027, up from about 8 billion in 2019.
However, IOT devices still suffer from privacy and security vulnerabilities. As evident from Calgary oil plant attacks, Saudi Aribia Shamoon attacks, Iranian nuclear system attacks, and Norsk Hydro attacks, the cost of damage is increasing exponentially, from a few million each year to 100 million.
The cyber-attacks can be categorized into 3 major types.
- First cyber espionage, this type of cyber-attacks usually aims to hack into device by intercept data transfer from devices to their gateways causing data breach.
- Second type is phishing attacks, this type of attacks aims to install trojan or backdoor software to allow attackers to damage the devices.
- The third type is also the most dangers type which is device hi-jacking. The attacker of the 3rd type can undertake control of critical devices such as traffic light, oil pump, power transformer etc.
The damage caused by these attacks can be mounted to billions of dollars in damages and risk many people’s life. Traditional VPN driven security and privacy approaches are not suited to IOT devices due to central authority and connectivity to unwielded internet.
Blockchain technology, a decentralized network, ensures the device and data integrity while keeping the devices secure from malicious attacks.
IOT devices become decentralized with Blockchain and eliminates single point of failure. This results in additional security for connected devices making them less vulnerable to malware and other attacks.
Since, data is embedded to Blockchain, it cannot be modified which makes it tamperproof. Devices authentication does not require central storage resulting in enhanced device security. Device management through Blockchain provides more autonomous operations and lowers costs of network and infrastructure maintenance.
- Blockchain enable SimCards
- Blockchain enable IoT Gateway Devices
- Blockchain enable PLC & SCADA Systems
At BDATA, we use BIIOT, a Blockchain technology developed inhouse, to help customer secure their IoT network and increase system interoperability.
We provide top notched security architecture back by blockchain seasoned with AI analytics.
Our security technology will help all range of the businesses to fully benefit from IoT implementation without worrying about cyber-attacks and data breach.
We put system integrity and data security as our paramount mission.
Our patent pending BIoT technology is developed inhouse and we have also developed the BIIOT gateway processor chips to be integrated with sim cards. We anticipate our gateway processor chips will be mounted in billions of IoT devices to enable these devices to tap into the secure Blockchain network.
Our main target markets can be divided into four groups:
- Telecom companies,
- Oil and Gas Industries,
- Smart city projects
- Mobile IoT Device Manufacturers
- PLC and SCADA Hardware Manufacturer
- Industrial Technology and Engineering Companies