In the cyberspace, a lot of attention is placed on protecting sensitive important site data from being stolen or exposed. Many companies do not realize that the data they handle is vulnerable in the process of transfer. This is often the case when information is shared with customers and partners as well as business associates.

The protection of confidential data exchanges is crucial to ensure that breaches are not made and keep trust with stakeholders, customers and business partners. Security breaches that reveal confidential information can cause irreparable damage to the brand’s reputation and trust. This is particularly true in the healthcare industry and the healthcare industry, where HIPAA requires that healthcare facilities have a secure way to share patient records electronic.

The same goes for other types of industries. Retailers and e-commerce platforms must secure their customers’ private information when they buy products online, while educational institutions must keep student records secret to prevent identity theft. Financial institutions must ensure that sensitive documents are secure when they transfer files to business partners.

While protecting specific locations on systems, servers, and even in the cloud is a critical aspect of securing confidential data, this approach can be not flexible for businesses that frequently collaborate with third-party companies and must share confidential documents. Alternatively, businesses can rely on encrypted software solutions like those from Anjuna, CanaryBit, CYSEC, Decentriq and others that use encryption and zero-knowledge proofs to allow for confidentiality-preserving sharing.

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