Cybersecurity is one of the most pressing concerns of recent years, with the increasing frequency of cyber attacks posing an ever-greater threat to individuals and businesses across the world.
In its Global Risks Report, the World Economic Forum (WEF) names widespread cybercrime and insecurity among the world’s top threats for the first time ever – marking a significant and potentially damaging change to the global order and in turn, how we should act.
Because today, cyber attacks don’t just mean lost or stolen data – although those consequences are problematic enough in and of themselves. Now, malicious activity in cyberspace could play a part in catastrophes such as wars and pandemics. It could bring down health systems and impact global security in ways we have yet to understand.
In late 2022, Zurich’s Chief Executive Insurer, Mario Greco, told the Financial Times he sees cyber attacks becoming uninsurable in the coming years. He highlighted the grave threat of a third party taking control of the IoT components within a large organization, citing the damage done everywhere from hospitals to government departments as a key indicator of the security risk at play. Greco went on to emphasize the importance of seeing beyond data alone – realizing that the threat is to civilization and our lives as a whole.
So, as the rising demand for cyber liability insurance leads underwriters to look more closely at organizations’ security policies, it’s more important than ever for businesses to double down on their systems and implement solutions designed to maximize security at all costs.
Employing authentication and passwordless login systems is a crucial first step in reducing the risk of cyber attacks and safeguarding your business from potential threats. The DigiThree Labs DGMV-ID solution offers organizations the tools they need to ensure high security levels, self-sovereignty and interoperability in different digital environments.
DGMV-ID works in combination with blockchain technology to provide next-level passwordless, multi-factor authentication – all with a smooth, intuitive user experience. You’ll benefit from decentralized architecture with the aim of using quantum-safe technology to protect against potential threats and attacks.
WEF calls for the harnessing of quantum computing in order to find new ways of using stealth technologies and to combat the growing threat of cyber attacks. Its additional predication that digital tools such as AI, edge computing and autonomous technologies will pose greater threats is also something we recognise here at DigiThree, having created this new method of authentication to protect even the most cutting-edge systems from potential threats.
With several proof of concepts currently in the beta stage, this is an exciting time for our business and future customers – even against the backdrop of growing risks and uncertainty. With authentication as cybersecurity’s first line of defense, there’s never been a better time to double down on the safety of logins within your business.