Patent for encrypting shared information through its lifecycle - persisting security across untrusted sharing tools and networks

SAN FRANCISCO, CALIFORNIA, USA, August 23, 2022 /EINPresswire.com/ -- USPTO grants the inventor i2Chain, Inc. the patent # US11343094B2 for encrypting shared information through its life cycle for creating the unique capability to persist encryption through the life cycle. i2Chain helps enterprises store and share non-fungible and certified documents that are traceable through the life cycle and provides powerful APIs that can be embedded in the customer's proprietary digital process easily & intuitively.

"The capability enables our users to share and distribute information and documents securely - ensuring the data is tamper-proof & hack-proof through the life cycle," says Ajay Jotwani, Co-founder & CEO. Mr. Jotwani further added that the ability to create non-fungible content and documents enables enterprise customers to store, share and distribute sensitive & classified documents securely, with ease, and ensure the integrity of their data & hence their brand.

During the pandemic, employees of Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs Group, Morgan Stanley, and the UBS Group used apps such as WhatsApp to discuss investment terms, client meetings, and other business. The Wall Street Journal reported on August 19th, 2022, that the regulators forced these banks to pay settlements of $200 million each for violating regulatory requirements to preserve, monitor, & record written communications. Jefferies Financial Group and Nomura Holdings are also nearing such settlement payments. The banks can avoid such penalties by using the i2Chain app that encrypts the information through the life cycle and across sharing platforms. As asked under SEC and CFTC rules, the i2Chain app also preserves and monitors all chained communications and establishes the chain-of-custody for regulators who check compliance with investor-protection laws.

In this context, Ranga Jayaraman, Advisor to i2Chain, formerly Chief Digital Officer of Stanford Business School & CIO of Nvidia Corporation, says, "i2Chain ensures the intended security for the document is encapsulated within the document. This enables businesses to embed i2Chain APIs to reduce the cycle time of executing a highly secure digital process. Also, life-cycle encryption establishes chain-of-custody and ensures full compliance with privacy laws & regulations."

Enterprises cannot enforce their security policies on copies on clouds, local systems, or sharing of classified, confidential, sensitive documents outside their domains using applications like WhatsApp. Non-disclosure agreements, commonly known as NDAs, offer some form of legal binding but are extremely hard to enforce. The capability to encrypt through the life-cycle can enable the businesses a critical competitive advantage, protect sensitive data and documents from leakage, protect intellectual property (IPs), and meet export regulations like ITAR (International Traffic in Arms Regulation), FINRA, and privacy regulations like GDPR, CCPA, and others.

The invention is leveraged by the i2Chain application to encrypt content or document so that system-registered documents can be safely stored or shared via untrusted file systems or untrusted transport systems without disclosing the contents. Mark Manasse, the Lead Researcher at i2Chain, explains, "It gives each user an individually-encrypted copy of the whole document (e.g., to help traitor-tracing, and identifying leaks, and transitive revocations) and provides a chain-decryption to supply to an editor or viewer. It also monitors the editor or viewer and re-encrypts any modified or newly-saved documents at that point, reentering the documents into the chained set of documents, restoring and preserving the chain of encryptions, allowing short-cuts for efficiency."

About i2Chain, Inc.
i2Chain is a San Francisco startup that delivers secure and privacy-compliant clouds, folders, and files to banking, financial services, healthcare, and military entities that share PII, PHI, or classified information with co-processors and ecosystem partners. i2Chain encrypts documents to make them tamper-proof, enforces policies that persist within and outside the networks making these non-fungible, and provides real-time evidence quality audit logs.
Learn more at https://www.i2chain.com/

Mainak Trivedi
i2Chain, Inc.
Press@i2Chain.com
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