The Silicon Review
Today, Blockchain has come far from its early beginnings as the foundation of investments, cryptocurrencies, and banking. More and more companies are innovating to tackle the world’s most severe challenges through this technology across industries, including Healthcare, IoT, Education, Retail, and Insurance. Blockchain is slowly revolutionizing the planet.
But did you know that the technology could be vital in solving the world’s most significant security challenges? Leading from the front in this space is Vault Security Systems AG, based out of Rüschlikon, Zürich. The company is responsible for building a state-of-the-art blockchain platform that can register and identify assets of any kind with the highest level of cybersecurity possible. Through its innovations, Vault Security Systems helps businesses secure their supply chain and protect their products from counterfeit and plagiarism. Companies can also easily track and manage their complete product life cycles through Vault Security Systems’ application, ivault.
In an interview, Arman Sarhaddar, Founder and CEO of Vault Security Systems AG, explained how the company uses Blockchain’s untapped potential to help deliver the best fraud protection through ivault. Read on for the excerpts from the interview.
Q. Specialized vulnerability and threat intelligence solutions available on the market often come with an expensive price tag. How do you maintain your affordability and profitability?
We have a small team of experts and carefully choose our technology partners. With a small overhead and a dedicated team, we are able to offer the best solutions at a reasonable price. Our solutions are also to a high degree, automated, and adjusted to each client’s requirements, which results in faster rollouts and less required training for our client’s employees.
Q. Unanticipated Costs, Potential for Setbacks, Integration Difficulties, and Quality Suffers are an inevitable part of SCM. How can we overcome these without disrupting the business flow?
Of course, there can always be issues, especially in the design and development of complex or interconnected systems. We use an open communication approach with our customers to find the best way to tackle encountered issues. Once a problem is identified, the best approach is to keep a cool head, analyze the encountered problem, and get started on finding solutions. Solving those issues is also a question of attitude- problems are revealing, and by finding a solution to a problem, the overall result can eventually be better than expected.
You also made a good point, which has a high priority for us- not disrupting the business flow. While change is always part of business operation, a huge technological disruption such as switching to an entirely new system often comes with burdens on the workforce and can create unforeseen issues for other parts of the business. At Vault Security, we tailor and adapt our solutions to every customer to give the business real added value without disrupting the business flow.
Q. Modern cyberattacks/security breaches are equally automated. How do you help organizations to fight fire with fire?
We adhere to standards while having extensive security checks, reviews, and audits on all components. While it is true that there is a lot of automation in attacks and breaches, solutions that are developed with security-by-design and are extensively audited get rarely breached by automated tools.
In most cases of security breaches, a human factor is involved. Those human interventions can be mitigated and also recorded; however, it would be very difficult to completely “disable” those attack vectors. Another point to mention is that our solutions are built on our Blockchain platform, which features strong encryption and the most up-to-date security components. Apart from that, we also implement different security measures depending on our client’s requirements.
Q. Blockchain solutions and privacy don’t go well with each other. How do you address this major concern?
While it is true that cryptocurrencies and solutions built on certain protocols are not very privacy-friendly, there is much more to blockchain than that. It also depends a bit on how you would define “blockchain.” To be precise, we are working with distributed ledgers, which are nowadays mentioned synonymously with blockchain, despite having some apparent differences. One of those differences is that distributed ledgers can indeed be privacy compliant, even privacy-focused, while still maintaining all the advantages of blockchain technology.
Q. Do you have any new services launching soon?
Regarding our business solutions, we have several services and products in different stages currently, from prototyping to testing. From track and trace, SCM integrations to customer engagement, you can expect our portfolio to expand rapidly throughout the year.
We will also be launching our ivault mobile app soon. It is a community app for people who like to help each other. If you need to borrow something, you need some help in the household, or want to inform your neighbors about something special, or if you have lost something, ivault will be the best app to use. Circling back to your question of Blockchain and Privacy- the ivault mobile app will demonstrate how we use Blockchain to provide high data security and, at the same time, the best privacy for our users.
Q. What does the road ahead look like for Vault Security?
We will be expanding our business in the European Union and the United States. We are working with our current partners and new partners on innovative and ground-breaking solutions. We aim to become a leader in developing and optimizing business solutions, expansions, and integrations, and building on Blockchain technology, and promoting Blockchain with all its advantages for business and consumers.
Meet the Pioneer
Arman Sarhaddar, Founder and CEO
He has 20 years of experience in raising funds and management. He has worked for big investment firms in different markets and has also managed companies (with as many as 50 brokers) in the US. Mr. Sarhaddar is devoted to helping people through innovative products in investments, technology, and healthcare. Having helped many startups succeed, he believes that it is critical to find the right people for a team to succeed.