Digital Trust Decoded : Why
Over the past decade the usage of technology has grown by leaps and bounds. There are more mobile connections than people on the planet, and more people have access to a mobile phone than to a toilet.
“The world is becoming digital”.
Every business no matter how small or big has to have some form of digital aid in order to function and grow. Governments world over are adopting digitalization in order to provide better services and promote the concept of inclusion. In today’s date and age digitization is no longer a choice or an option, it is a Must. As the result, most businesses and governments are striving to make their digital presence.
While more people can benefit from access to information and communication, the potential for bad actors to create widespread havoc increases; with every year, the incidents of cyberattacks, data breaches and identity thefts get bigger and have wider impact.
- The world currently deals with 2.5 million cyber security threats per second.
- ISACA, previously known as the Information Systems Audit and Control Association, found that 82 percent of respondents “report that their enterprise board of directors is concerned or very concerned about cybersecurity” in its State of “Cybersecurity – Implications for 2016” report, conducted with the RSA Conference.
- The statistics, from 277 banks and businesses, show almost 173,000 recorded identity frauds.
- One in five organisations has experienced data loss or exposure due to targeted attacks.
- The global average cost of a data breach for the 2019 is $3.92 million, a 1.5 percent increase from 2018.
In order to avoid such loses digital security softwares have been used; but security is a reactive process. Security’s new role isn’t to secure assets; it’s to allow assets to be leveraged and utilized!
Digital Trust is necessary for the broader adoption of any new technology. Due to the complexity, connectivity and sheer volume of the data, digital information has become highly vulnerable. As stated before, Digital trust leverages security and other related technological assets in order to achieve a secure digital ecosystem.
Digital trust goes beyond security.