Who are the leading innovators in blockchain data security for the technology industry?

Who are the leading innovators in blockchain data security for the technology industry?

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The technology industry continues to be a hotbed of innovation, with activity driven by the need for stronger and more comprehensive cybersecurity measures to protect against cyber threats and attacks, and the growing importance of technologies such as cryptography, private and permissioned blockchains, immutable data storage, and penetration testing and vulnerability assessments. These technologies work together to establish a secure and reliable environment for data storage and transactions on the blockchain. By leveraging cryptographic techniques, consensus mechanisms, smart contracts, distributed ledger technology, and robust security practices, blockchain technology provides a solid foundation for ensuring data security and integrity in various applications. In the last three years alone, there have been over 3.6 million patents filed and granted in the technology industry, according to GlobalData’s Innovation in Cybersecurity: Data security blockchain report.

However, not all innovations are equal, nor do they follow a constantly upward trend. Instead, their development takes the form of an S-shaped curve that reflects their typical life cycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity.

Identifying where a particular innovation is on this journey, especially those in emerging and accelerating stages, is critical to understanding their current level of adoption and the likely future trajectory and impact they will have.

300+ innovations will shape the technology industry

According to GlobalData’s Technology Foresights, which plots the S-curve of the technology industry using innovation intensity models built on over 2.5 million patents, there are 300+ areas of innovation that will shape the future of the industry.

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Within shows up innovation stage, Byzantine fault tolerant blockchain, secure multiparty computing and decentralized identity framework are disruptive technologies that are in the early stages of application and should be closely tracked. Secure hash algorithms (SHA), zero knowledge proofs and private blockchains are some of these accelerating innovation areas, where adoption has been steadily increasing. Among matures areas of innovation are firmware security, multimedia signal encryption and biometric authentication, which are now well established in the industry.

Innovation S-curve for cyber security in the technology industry

Data security blockchain is a key area of ​​innovation within cyber security

Data Security Blockchain is a form of distributed ledger technology that offers a secure and immutable method of storing and exchanging data. It uses cryptographic methods to guarantee the integrity and immutability of data stored on the blockchain, establishing a high level of trust and transparency in data sharing. Data security blockchain finds applications for securely storing various types of information, including medical records, financial transactions, identity details and more, providing a reliable and transparent solution for data processing.

GlobalData’s analysis also uncovers the companies at the forefront of each area of ​​innovation and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 180+ companies, spanning technology vendors, established technology companies, and up-and-coming startups engaged in the development and application of data security blockchain.

Key actors in data security blockchain – a disruptive innovation in the technology industry

“Application diversity” measures the number of different applications identified for each relevant patent, dividing companies into either “niche” or “diversified” innovators.

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“Geographical scope” refers to the number of different countries each relevant patent is registered in, and reflects the breadth of geographic application intended, from “global” to “local.”

Patent volumes related to data security blockchain

Source: GlobalData Patent Analytics

SoftBank Group is one of the leading patent applicants in blockchain for data security. The company’s patents are aimed at providing techniques to improve the security of blockchain networks. In some implementations, a connection request is received from a node, which needs to connect to a blockchain network. The connection request includes a digital code.

One or more consensus confirmation messages are received from one or more blockchain nodes in the blockchain network. Each consensus confirmation message indicates whether a respective blockchain node approves or rejects the connection request. A consensus confirmation result is determined based on one or more consensus confirmation messages. In response to determining that the connection request has been approved by the one or more blockchain nodes, the digital code is stored in the blockchain network as a digital certificate for the node.

Other prominent patent applicants in the area include nChain and Mastercard.

In terms of geographic reach, Samsung leads the pack, followed by IDEMIA France and Razorpay Software. In terms of application diversity, IHI holds the top spot, followed by Glory and Cox Enterprises.

Data security blockchain significantly improves data integrity, transparency, privacy, trust and efficiency in various sectors. It offers solutions to long-standing challenges in data management, and promotes a secure and reliable environment for data sharing and collaboration.

To further understand how cybersecurity is disrupting the technology industry, access GlobalData’s latest thematic research report on Cybersecurity – Thematic Research.

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