Decentralized Data Risk Management

Improve data security and your business' continuity

Traditional methods of managing data risk still leave companies vulnerable to cyberattacks or data loss if just one element — such as a key management storage location — is compromised. 

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What is data risk management?

Data risk management refers to the technologies and processes a company has in place to protect how digital assets are stored and shared, both internally and externally, to prevent that data from being lost or stolen. 

“While organizations are enhancing efforts to identify and manage their data assets, some have difficulty doing so in a consistent, enterprise-wide way that is aligned with business strategy,” said Cory Liepold, a Deloitte Risk and Financial Advisory principal in the Cyber Risk practice at Deloitte & Touche LLP, in a Wall Street Journal article. “Lack of consistency in processes and standards with respect to data can lead to strategic and operational inefficiencies, such as duplication of systems, multiple data standards, and inability to monetize data.” 

Myota decentralizes data risk management by removing obstacles to key management, decryption and deciding what to encrypt.

How does Myota help you comply with the NIST framework for data risk management?

Myota’s converged data security platform aligns directly with these goes beyond standard protocols for data encryption to secure data at rest and in transit. Instead of relying on the IT or security team to determine which files could potentially contain sensitive data and managing encryption protocols for many different storage repositories, Myota protects data across locations — including AWS, Azure, and Google Drive. 

It achieves this by separating the data plane from the point of authentication, separating the data from identity and device, and decentralizing key management.

Administrators grant access to individuals on a per-user, per session basis, with the ability to restrict access to any individual or device anytime. 

The Myota platform organically facilitates data deduplication, which eliminates data replication while ensuring compatibility with object storage locations. 

It creates chunks of files and encrypts each chunk to ensure continuous confidentiality and privacy in the event of an attack or compromise. Then, it shreds each chunk into shards, eliminating the need for centralized encryption key management. Myota’s technology encodes each shard to guarantee end-to-end protection, resiliency, and high availability through a process that is completely transparent to users. 

What are best practices for data risk management?

The National Institute of Standards and Technology (NIST) outlines best practices for data risk management according to seven tenets of Zero Trust.

Always Verify

Resource Discovery

All data sources and computing services are considered resources
pen check mark-2

Secure Communications

All communication is secured regardless of network location 
access granted

Access Granted

Access to individual enterprises is granted on a per-user, per session basis 
access granted

Resource Access

Access to resources is determined by policy 
monitoring and measuring

Monitoring & Measuring

The enterprise monitors and measures the integrity posture of all owned and associated access 
Adapt Icon-2

Resource Authority

All resource authority is strictly enforced before access is allowed 
financial data regulations

Information Collection

The enterprise collects as much information as possible about the current state of assets
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CDM System

Industry Compliance

Threat Intelligence

Activity Logs

Control Plane

Policy Engine
Policy Administrator
Subject
System
Enforcement Point
Enterprise Resource

Data Plane

Data Access Policy

PKI

ID
Management

SIEM System

How does Myota help you implement Zero Trust data protection?

Myota’s Converged Data Security platform combines the tenants of Zero Trust architecture, data encryption, immutable redundant storage and advanced data dispersion. Myota is designed for consumption and scale allowing fine-grain control over security, storage and data governance.

Overcome Security Obstacles

The Myota platform creates a data security backplane that consists of pooled storage nodes that allows us to apply multiple security and IT resiliency capabilities within a single solution.

Zero Trust Architecture

Within the Myota Console, you can easily grant or deny access to individuals and devices and continuously verify them with multi-factor authentication. You can also create folders that are shared among users within your organization, define those users by department, and manage permissions according to need.

Myota supports single sign-on via SAML and integrates with Active Directory so you can onboard or block users immediately.

Data Encryption

Myota goes beyond standard encryption to protect data at rest and in transit. The platform chunks files to facilitate data deduplication while ensuring the data is compatible with object storage locations. It then encrypts the chunks and breaks them down into data shards. Each shard is encoded individually to guarantee end-to-end protection, resiliency, and high availability.

Advanced Data Dispersion

Within the Myota Console, you can easily grant or deny access to individuals and devices and continuously verify them with multi-factor authentication. You can also create folders that are shared among users within your organization, define those users by department, and manage permissions according to need.

Myota supports single sign-on via SAML and integrates with Active Directory so you can onboard or block users immediately.

Redundant Storage

One of the biggest challenges with many Zero Trust data protection solutions is that they offer no immediate way to recover data after a cyberattack or adverse event. With Myota, administrators can recover data immediately. 

Decentralization in practice:
The Byzantine fault tolerance explained

The Byzantine Fault Tolerance is a concept for managing risk within a distributed network. Originally described by Microsoft researchers as a way to reach consensus within a system even if some nodes in a network fail, it’s also an important principle in cybersecurity. 

Myota helps enterprises achieve Byzantine fault tolerance by decentralizing decryption key management systems. The Myota methodology ensures that if one decryption key store is lost or attacked, you won’t lose access to valuable data. 

 

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