Bitcoin, Cryptocurrency And Blockchain News

NuCypher Platform; Introducing a Whole New Level of Data Sharing


There is a need for individuals and companies to share information without having to expose sensitive information. NuCypher KMS assists developers in securing data within the blockchain, using decentralized proxy re-encryption systems. It is a type of public-key encryption that enables proxy entities to change ciphertexts through different public keys. A user can delegate access to encrypted information to another user, without exposing the core message.

There is a very reliable team behind NuCypher, who make this system work efficiently. Co-founder and Chief Executive Officer MacLane Wilkison is a qualified software engineer and also a former investment banker at Morgan Stanley. He has been a consultant in financial services, media and technology. The other co-founder and CTO, Michael Ergorov, is a qualified physicist and scientist. He was also a bronze medalist in the International Physics Olympiad in 2003. They also have advisors including Dave Evans a professor at the University of Virginia and Giuseppe Ateniese, also a professor at Stephens Institute of Technology.

How Does NuCypher Work?

A user who has sensitive data and has the intention to delegate access to others, encrypts data on this platform. The user encrypts that data using their private key and keeps it in the cloud – also referred to as decentralized storage. This user then delegates access to the data to a second user. The second user has their data rekeyed in their storage. This second user or receiver downloads the data and decrypts it using their private key.

NuCypher and Business Enterprises

The system enables secure and seamless sharing of data between different organizations. The application gives the data owner full access and control to their data, irrespective of who they share it with. Cryptographic controls allow data access on-demand, while restricting access to private keys.

Integration With Hadoop and Kafka

This site integrates these two platforms to enable clients to protect their data from unauthorized access, thus allowing organizations to share, process and securely store data on the cloud. If you’re still not confident about this platform, the site has a section where you can request a demo to see how it works.

We would like to know what you think about this platform in the comments below. Do you think this system will secure data as it claims? Will the keys be prone to hackers?