Cambridge, United Kingdom, 24th March 2015.
Metrarc announced today that it has won funding under the Innovate UK’s Technology-Inspired Innovation feasibility competition for work on ICMetric Cloud Security Software. The Company will work on a project that will establish the feasibility of developing existing hardware-focused ICMetric technology to operate in a software only environment in order to efficiently verify the authenticity of cloud based services without the need for user interaction.
Recent work by the CSA (Cloud Security Alliance) has identified data breaches as one of the biggest risks to cloud computing security. Currently encryption technology, using encryption keys, is used as a mechanism for preventing data leaks. However, this suffers a serious limitation in that if the key is lost or stolen then the data is compromised. What is required is a technology that provides the security of encryption but without the limitation of having stored keys. Metrarc’s CTO Gareth Howells said ‘Our proposal, to address this industry challenge, is to alleviate the vulnerability inherent in modern encryption protocols via direct generation of encryption keys from the operating characteristics of cloud based systems and subsequently discarding the keys and not storing them.’
The Cambridge based Company has developed highly novel technology for deriving encryption keys directly from the operating characteristics of digital systems without having to store the encryption keys, a technology termed ICMetricsTM. Metrarc’s CEO Professor Klaus McDonald-Maier said ‘We are delighted to have won support from Innovate UK which will enable us to work on the feasibility of implementing our technology in this challenging and important area of cloud computing. This is an area of computing that is burgeoning and we look forward to developing crucial enabling technology in the area of encryption security.’
Cambridge based Metrarc is developing groundbreaking security technology for applications where high levels of security and authentication are important such as Internet of Things (IoT), e and m-commerce and quantified self applications such as healthcare and sports monitoring. Metrarc’s technology for deriving encryption keys directly from the operating characteristics of digital systems without having to store the encryption keys, a technology termed ICMetricsTM. For more information on Metrarc see www.metrarc.com or contact Professor Klaus McDonald-Maier at Klaus@metrarc.com .
About Innovate UK
Innovate UK is the new name for the Technology Strategy Board and they fund, support and connect innovative businesses to accelerate sustainable economic growth. For more information on Innovate UK see www.gov.uk/government/organisations/innovate-uk