Encryption is a powerful weapon against hackers that can prevent them from stealing your data and leveraging it against you. Encryption, in its most basic textbook definition, converts your readable data into an indecipherable jumble that can only be reassembled through the use of an encryption key. Small businesses absolutely must utilize encryption to protect customer information, financial records, and other important or sensitive business data. This ensures that it is as protected as possible against those that might do you harm.

Most organizations are trying to figure out how to secure their IT against the constant flood of threats out there. Unfortunately, the biggest threat out there isn’t something that you can actively protect against. Can you guess what it is?

Unfortunately, it’s your employees, and their potentially lax password practices—and while you can’t really protect yourself against insecure passwords, you can minimize the likelihood that they’ll be used.

#1: Is security a priority when we build processes?

Your business has a way that it does what it does. Are those processes created with both physical security and cybersecurity in mind? The amount of threats your business is subject to is literally innumerable. Each day new threats are created and used to try and steal money and data from businesses just like yours. When building your business’ processes, the first consideration that isn’t “can I make money this way” has to be about how to secure your business from outside threats.

Today, there is a shift in the ways that people are entering a contract. Using blockchain technology, businesses are using the technology to solidify their contracts, reduce process conflict, and save time. Blockchain offers faster, cheaper, and more efficient options in which to enter a binding agreement with someone. Let’s take a look at how companies are going about using smart contracts.

What is a Smart Contract?

To understand how a smart contract works, you first need to understand how it is smart. Smart contracts are designed to work on clearly defined and conditional principles that work to resolve ownership only after those conditions are agreed upon. Think about it this way, you have a product that you want to sell, but the buyer can only pay over time. You agree to hand over the product under the condition that the buyer pays four equal payments. After the third payment is made, the buyer doesn’t send another payment. It will be evident to the buyer, the seller, and any intermediary or arbiter that not all the conditions of the contract have been met because each action made by either party creates an individual block in the blockchain; and, that information is not only encrypted, it is completely transparent. This means that it can be seen by all parties involved because the information is stored on every system that is in on the contract. 

Why Would You Want to Use a Smart Contract?

The most advantageous part of the smart contract as compared to normal contracts is the speed in which agreements can be completed, but there are almost an endless number of superlatives when compared to traditional contracts. They include:

1. Accuracy - One of the best features of a smart contract is that it records all of the information that needs to be known in explicit detail. 
2. Communication clarity - The explicit nature of the smart contract leaves no room for miscommunication, removing much of the liability, and cutting down on inefficiency that comes as a result of misinterpretation.
3. Transparency - All relevant parties would have a fully visible set of the terms and conditions set forth in the contract.
4. Security - Smart contracts use the highest level of encryption available. 
5. Redundancy - Smart contracts save every transaction in explicit detail. If data were to be lost, it is easily retrievable. 
6. Trustworthy - Since smart contracts are made with some of the most secure, transparent, and reliable tools available, there is no room for outside manipulation and error. 

Where Will You Find Smart Contracts? 

These contracts will be found in some of the most important transactions humans undertake. Some of the industries you may find smart contracts popping up in include banking, insurance, healthcare, and real estate. In fact, anywhere you find the need for a lawyer, you may only need the use of a distributed smart contract.

Emerging technologies are changing the way people do business. For more information about blockchain or smart contracts, subscribe to our newsletter and visit us at www.colemantechnologies.com.

What is Encryption?
Encryption is a security measure meant to thwart any would-be hackers from using your stolen data to further their ambitions. Think about it like this; without encryption, hackers would gain access to your files, plain as day. Encryption provides a measure that keeps hackers from using your organization’s data even if they were to gain access to it. It essentially scrambles data to everyone who doesn’t have the decryption key, rendering it useless.

One particular technology that uses encryption to a considerable degree is a virtual private network, or VPN. A VPN can connect your employees to your infrastructure regardless of their location in a secure way. Think of it like this; the connection between your employee’s device and your network is normally a clear tube that can be observed by anyone ambitious enough to look for it. Rather than leave it as is, encryption makes the tube opaque--enough to obscure what’s inside so it’s not quite clear for any unwanted onlookers.

Why is it Important?
You can imagine the immense importance of encryption in today’s data-oriented business world. If you’re not taking every measure possible to secure your data, you could be making a huge mistake. Encryption in particular is important for assuming the absolute worst. You can never know when your data will be stolen, so it’s best to take preventative measures to ensure that it will cause a minimal amount of damage should it occur. If your encrypted data is stolen, it will simply be unusable without spending far too much effort to get the data into a readable state.

Coleman Technologies can equip your business with encryption services that you can count on to keep your data as safe as can be. To learn more, reach out to us at (604) 513-9428.

Why Use a VPN?
A virtual private network works by protecting your network from prying eyes while data is in transit. While you’re out of the office and connected to a network, any data that moves between your device and your internal infrastructure is susceptible to being intercepted. Any villain with the right tools could snatch your data while it’s moving from one location to the next. A VPN makes this task more difficult for the hacker, if not outright impossible.

Understanding a VPN
Any network should be encrypted to keep the data stored on it safe, and a virtual private network takes this one step further by implementing an encrypted connection while out of the office or on a different network. This is particularly helpful if you don’t trust the integrity of the web connection you are currently using (and you shouldn’t--hotels, coffee shops, and other public places attract all sorts of folks). If data sent to and from a device is encrypted, hackers have a harder time making heads or tails of the data or its purpose, thereby removing the incentive to actually steal it.

To be fair, a VPN doesn’t necessarily make it harder for data to be stolen--rather, it makes it harder to be read, analyzed, or interpreted. It transforms the data into a jumbled mess that can only be decrypted by someone who has the encryption key. This makes the data stolen significantly less valuable, as hackers can’t really do anything with encrypted data. At the absolute worst, the hacker will spend an insane amount of time trying to crack the encryption, and it’s entirely likely that they will simply give up or see it as not worth the effort.

If your business wants to maximize security for remote workers or traveling, a virtual private network is a necessity. Coleman Technologies can help you implement the best one for your budget. To learn more, reach out to us at (604) 513-9428.

What is Blockchain Technology?
In essence, a blockchain is a distributed ledger that builds a collection of records that is continually growing, all protected with encryption. By design, blockchains are meant to be resilient to edits and changes, making them quite reliable in terms of ensuring the integrity of these records. Each block (or node) of data has security measures to keep it from being changed, as well as timestamps for each record and information about the transaction. If a record needs to be altered, all subsequent records must also be altered, which requires the permission of the network majority.

How Is It Used?
Originally, blockchain was developed for cryptocurrency purposes, but the fact that it’s encrypted and resilient to changes makes blockchain ideal for other purposes. Public blockchains are used for cryptocurrency like Bitcoin to provide a distributed ledger, but it’s thought that private blockchain systems might be helpful for business purposes.

How Will It Be Used in the Future?
One of the most noteworthy ways that blockchain could be implemented in the future is the sharing of health records between various provider offices. Since it’s a distributed network, all doctors on someone’s medical plan would have access to the same unaltered data so they could provide the best service possible. Other opportunities for blockchain technology include a transparent ledger for public viewing, which has a wide range of uses for tracking payments for services rendered and other information.

Coleman Technologies can help your business check up on the latest technology solutions on the market, including ones that will help you improve operations or efficiency. To learn more, reach out to us at (604) 513-9428.