WASHINGTON--(BUSINESS WIRE)--infOsci, LLC, a disruptive technology company with deep roots in the U.S. intelligence community and information security, announced today a pending patent that extends the company’s intellectual property to distributed ledger technology. Following on the heels of infOsci’s patent for applying Ci4™ technology to the Internet of Things (IoT), this new pending patent describes how Ci4 technology uniquely secures distributed ledger technology (DLT).
“infOsci has patent protection for the only technology to address the security concerns hindering the expansion of blockchains and virtual currencies into mainstream commerce,” said Snow Le, managing partner at KREM Group and member of infOsci's board of directors. “We look forward to proving how our technology defeats the threat of stolen credentials, including those on distributed ledger networks."
DLT secures the recording of transactions and transfers of assets across a network of geographically separate computers. DLT can readily be used in global finance, trade, medical records, supply chain management, financial recordkeeping, and identity management through distributed ledger applications that document provenance in the transfer of data and value without traditional intermediaries.
Despite these benefits, DLT is only as secure as the network upon which it operates, and most digital networks today still use vulnerable public-key infrastructure (PKI) cryptographic protocols for security. PKI encryption requires maintaining secret credentials (passwords or keys) that can be lost, hacked or stolen—leading to financial losses and the compromise of corporate and personal data. Networks relying on PKI security, including peer-to-peer networks, are exposed to the risks inherent in requiring secret credentials for connecting devices.
"The ability to cryptographically record transactions across a decentralized network of computers has created a false sense of security for distributed ledger technologies," said Caroline Lynch, founder of Copper Hill Strategies and advisor to infOsci. "But the recent thefts of virtual currencies from insecure wallets and exchanges shows that continued reliance on PKI equals ongoing vulnerability for DLT-based applications. Greater security can drive greater adoption in those diverse markets looking to leverage DLT for managing and transferring assets."
This new patent-pending system utilizing Ci4 technology can certify the identity of parties to DLT transactions, authenticate end points across distributed networks, and even authenticate a restored virtual currency wallet.
infOsci is a disruptive technology company based in Northern Virginia. The company's patented Ci4 technology brings cybersecurity into the twenty-first century by creating a new security authentication method to digital devices. This technology provides companies, governments, and other organizations with cyber resilience by replacing obsolete and insecure digital certificates (PKI) with dynamic certificates. Ci4 technology delivers security in a world that cannot keep secrets. For more information, visit Ci4.us.