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Data Protection

Asymmetric Cryptography for Data Secrecy and Protection

Have you ever stopped to think about the security of your digital data? Emails, bank transactions, instant messages – all of these contain sensitive information that, in the wrong hands, can cause irreparable damage. This is where asymmetric encryption comes in as a real invisible shield for the protection and privacy of your data.

In practice, when we talk about cryptography, it’s very common to think only of techniques for maintaining the secrecy of information.

However, encryption can be used in many other situations. In this post we’ll look at applying asymmetric cryptography techniques to verify the origin of a message.

What is Asymmetric Cryptography and Why Should You Care?

Asymmetric cryptography is a data encryption technique that uses a pair of keys: one public and one private.

While the public key is used to encrypt the data, the private key is used to decrypt it.

This means that only the recipient with the corresponding private key can access the encrypted information.

Undeniable Benefits of Asymmetric Cryptography
  • Robust security: The mathematical complexity involved makes it almost impossible to break the code.
  • Data Integrity: Ensures that data has not been altered during transmission.
  • Authentication: Confirms the identity of the sender and recipient.
  • Non-Repudiation: Makes it impossible for the sender to deny the authenticity of the message sent.
Value Generated by Asymmetric Cryptography

Asymmetric cryptography is not just a security mechanism; it is a strategic asset that adds value to your business.

It strengthens customer confidence, facilitates regulatory compliance and offers a competitive advantage in the market.

Asymmetric Cryptography in Practice

Initially, we need to say that one of the most striking features of asymmetric cryptography is the presence of a key pair, with one part public and the other private.

While the public part can be disclosed to all interested parties, the private part cannot. After all, it must be protected and kept secret by the entity that owns the pair, be it a person or a system. From the origin of a message to its final delivery

This key pair is something very special, because when one of the keys is used to encrypt data, only the partner key of the pair can be used in the reverse process.

And it is this characteristic that makes it possible for various cryptographic schemes to exist in communication between two entities.

Alice and Bob’s messages

To make it easier to understand, let’s use the classic analogy. It presupposes the existence of two users, Alice (A) and Bob (B), each with its own key pair.

Alice and Bob exchange letters (messages) with each other and each letter is placed in an envelope that has a special padlock, which, when closed with one of the keys, can only be opened with the pair’s partner key.

Note that since we have two pairs of keys, one for each user, we have a total of 4 keys that can be used to lock the envelope!

So which key should be used? Well, it depends on which security service you want to implement when sending this letter.

Asymmetric encryption for secrecy

If the desire is to guarantee the secrecy of the letter from the origin of a message, Alice must lock the padlock with Bob’s public key. In this way, the only key capable of opening it is the partner key, i.e. Bob’s private key.

Remember that Bob’s private key, by definition,must be known only to Bob. This way, only Bob can open the padlock on the envelope and take the letter out.

Asymmetric encryption for the origin

If she wants to verify the origin of a message or letter, Alice can lock the envelope using her private key. Thus, the only key that opens the envelope is the partnership key, i.e. Alice’s public key.

Remember that Alice’s public key, by definition, is public knowledge. This way, everyone could open the envelope using Alice’s public key.

Note that in this situation, although the letter is in a sealed envelope with a padlock, the contents are not secret. After all, anyone can open the lock on the envelope using Alice’s public key.

What is required is verification of the origin of the letter (or the sender’s authorship). In other words, for Bob to check if the letter came from Alice, all he has to do is open the padlock with her public key.

Note that in this situation, although the letter is in a sealed envelope with a padlock, the contents are not secret. After all, anyone can open the lock on the envelope using Alice’s public key.

What is required is verification of the origin of the letter (or the sender’s authorship). In other words, for Bob to check if the letter came from Alice, all he has to do is open the padlock with her public key.

Asymmetric vs. Symmetric Cryptography: Which is Better?

Although symmetric encryption is also effective, it has its limitations. In this method, a single key is used to both encrypt and decrypt the data. This makes the system vulnerable, because if the key is compromised, the entire security system collapses.

It is therefore common to see security protocols that use hybrid schemes with symmetric and asymmetric cryptography to implement confidentiality, origin verification, authentication and irretrievability services, taking advantage of the benefits of each: the speed of symmetric cryptography and the flexibility of using asymmetric cryptography.

Crucial Points of Difference
  • Complexity: Asymmetric cryptography is more complex and therefore more secure.
  • Speed: Symmetric encryption is generally faster, but less secure.
  • Key management: Asymmetric cryptography eliminates the need for secure key exchange, which is a challenge in symmetric cryptography.

Asymmetric cryptography is more than a security technique; it is an imperative in the modern age. It offers a level of security and reliability that is second to none, making it the ideal choice for any person or company serious about protecting their data.

Don’t leave your data to chance. Invest in asymmetric encryption and sleep soundly knowing that your information is in safe hands.

We’ve also written an article that may be of interest to you, as it talks about data encryption and its importance in the financial market, click here.

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About Eval

EVAL has been developing projects in the financial, health, education, and industry segments for over 18 years. Since 2004, we have offered solutions for Authentication, Electronic and Digital Signature, and Data Protection. Currently, we are present in the main Brazilian banks, health institutions, schools and universities, and different industries.

With value recognized by the market, EVAL’s solutions and services meet the highest regulatory standards of public and private organizations, such as SBIS, ITI, PCI DSS, and LGPD. In practice, we promote information security and compliance, increase companies’ operational efficiency, and reduce costs.

Innovate now, lead always: get to know Eval’s solutions and services and take your company to the next level.

Eval, safety is value.

Data Protection

Banks 3.0: Future of branches and branches of the future

Unsurprisingly, and even before the term gained traction in the market, Digital Transformation reached financial institutions and, more specifically, banks and their financial transactions. The idea of Banks 3.0 has been consolidated for some time.

Not only because of the advance of the Internet, but also with the help of innovation and information security technologies.

Talking about the future of financial institutions and their financial transactions, especially for us in technology, makes us think about how much we have evolved in different ways.

While for the banks’ target audience we talk about Internet Banking, Mobile Banking and even BitCoin, for us experts we associate this evolutionary leap with cryptography solutions, digital signatures, data protection, Blockchain and various other security-related terms.

Undoubtedly, in the face of so many developments in digital transformation, it is worth reflecting on the future of banks, Banks 3.0.

An evolution based on innovation

Technological developments are pointing to an increasingly digital future. After all, financial transactions are being incorporated into our routines as something more simplified and transparent.

We can see this reality through payments made with mobile devices and “ wearables “.

The financial sector is one of the most advanced in IT investments, products and services linked to financial transactions. It’s no wonder that the basis of Banks 3.0 comes from technologies such as cloud computing and cyber security.

It’s worth noting that this evolution came from a paradigm shift. After all, the rise of digital banking has represented one of the biggest challenges for the financial market.

Because it has led to major changes in consumer behavior.

We can see that in the near future there will be a major conceptual change in financial institutions. Thus, in the era of Banks 3.0, they are no longer banks but financial assistants.

Everything happens online and with little interference from people or regulatory institutions, such as the Central Bank or any government body.

The foundation of Banks 3.0 will be cyber security

The big leap from traditional to digital banking is based on efficiency and trust through technology and cybersecurity and financial transactions

The digital banking experience is the essence of the Banks 3.0 concept. It will be driven by the more intuitive, intelligent and secure delivery of products and services.

But in order to consolidate this new banking concept, information security will be fundamental. CIOs who intend to offer this new experience in the near future, in addition to understanding the new business models, processes and technologies that will allow us to evolve towards the concept of Bank 3.0, must consolidate the idea that without investments in security this will not be possible.

Ultimately, Bank 3.0 needs to be agile enough from a technological, structural and cultural point of view. This way, you can constantly adapt to rapidly changing business and technological environments.

A major challenge when integrating so much technology and security, identity and compliance requirements.


The role of IT in consolidating Banks 3.0

Banks today are facing a major challenge. After all, they are struggling to keep up with the race for innovation, especially when it comes to customer-facing financial transaction apps developed by giants such as Amazon, Google, Facebook and Alibaba.

In this competition we have platforms that provide trust in untrusted environments. They operate as financial institutions that connect the supply and demand sides. In view of this, there are two outstanding scenarios:

  • Financial technology companies (fintech). E-commerce providers and telecom operators are cutting into banks’ traditional sources of income.

    They provide faster payments, more convenient transfers, real-time loan facilities and automated investment advice.
  • On the other hand, Banks 3.0, in order to consolidate their position as the future of the sector, have a mission to evolve and adopt the business platform model, both internally and externally, to improve efficiency, create new commercial value and, above all, increase customer confidence.

It is possible to increase this trust by increasing business transparency, gathering more information and intelligence to better understand customer behavior and desires, and focusing even more on IT management, security and identity management. Missions that Banks 3.0 will certainly have to solve.

The future of agencies and the agencies of the future

In short, a true Bank 3.0 is a bank that improves the customer experience, creates new and powerful revenue and value streams, offers services without or with reduced fees and can support multiple non-traditional business models.

Digital banks must pursue a vision and a business strategy that makes it possible to reorganize the bank’s resources, both to optimize costs and to leverage the latest technologies, so the priorities for new technologies include:

As for Information Security, there are increasing investments in:

  • Cryptographic key management.
  • Application analysis and security.
  • Data protection services. Check out 7 tips here.
  • Threat detection services.
  • Protection against DDoS attacks and malicious traffic.
  • Specialized human capital.

The way consumers are engaging with their financial institutions has changed significantly. Traditional banks are being challenged with a new distribution perspective, in line with the strong movement towards mobile and digital channels.

Finally, based on investments in new technologies, it is possible to take advantage of and mitigate the impact of implementing these major changes in the vision and strategy applied to the “bank of the future”.

In a nutshell, Bank 3.0 is about the transition from dependent banking to a dedicated online structure, which allows it to be used at times or places that are more convenient for the customer.

This is a new form of engagement and user experience that harnesses the power of the internet and all the technological advances created by the Digital Age.

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About Eval

A Eval está há mais de 18 anos desenvolvendo projetos nos segmentos financeiro, saúde, educação e indústria. Desde 2004, oferecemos soluções de Autenticação, Assinatura Eletrônica e Digital e Proteção de Dados. Atualmente, estamos presentes nos principais bancos brasileiros, instituições de saúde, escolas e universidades, além de diferentes indústrias. 

Com valor reconhecido pelo mercado, as soluções e serviços da Eval atendem aos mais altos padrões regulatórios das organizações públicas e privadas, tais como o SBIS, ITI, PCI DSS, e a LGPD. Na prática, promovemos a segurança da informação e o compliance, o aumento da eficiência operacional das empresas, além da redução de custos. 

Inove agora, lidere sempre: conheça as soluções e serviços da Eval e leve sua empresa para o próximo nível. 

Eval, segurança é valor.