As more and more industries digitalise and consumers turn to online methods of transacting with businesses, cybersecurity becomes increasingly crucial. In Southeast Asia, issues of data breaches and attacks on digital industries like cryptocurrency and NFTs are a cause for alarm, especially at the rate and scale of digitalisation in the region. Owners of crypto assets need to be on their toes as any potential breaches in the market could lead to problems in the share prices of individual firms, apart from disrupting the global crypto market as a whole.
Digital users need to be careful with their online assets if they are to make any profit from them, and the answer to these issues is to ramp up their cybersecurity defences. This, of course, also applies to businesses that primarily engage in online assets working to avoid infiltrations and online attacks.
While the discussion of cybersecurity has been around even before the 2020s—considered an emerging issue in the mid to late 2010s, when the potential of digitalisation was making a global wave—few industry leaders have innovated towards the opportunity to provide more robust cybersecurity services to clients. Among these innovators is UKISS Technology, a Singapore-based startup that aims to make user-controlled crypto and data security easy for everyone.
What’s at stake for users
UKISS Tech CEO James Gan noted that with greater digital autonomy comes greater responsibilities. Digital users of the web at present need to keep track of and protect their assets, since no centralised institutions can help them retrieve forgotten passwords or lost assets.
This is where UKISS’ services come in handy. The cybersecurity company develops reliable, cutting-edge solutions that are easy for anyone to adopt with confidence. Its cutting-edge technology is highlighted in its UKISS Hugware® technology, designed to retain the confidentiality of users’ private keys and, at the same time, recover those keys should users lose their authentication device.
“The more people accumulate digital assets, the more they will need solutions to secure them. If you ask people today, I think 99.9% of them will say they have never used any cryptographic or encryption products. But that may change in the future, as NFTs, virtual land, and cryptocurrencies become commonplace,” explained Desmond Hsu, Chief Technology Officer (CTO) of UKISS
Hugware offers master seed synchronisation that doesn’t have to be translated into recovery phrases which are often exposed to human error, phishing, or theft. This makes it perfect for even new users dabbling in crypto for the first time.
Beyond Hugware, UKISS is developing an ecosystem of interconnected digital security services that ensure seamless and transparent protection. These include encryption, authentication, and authorisation. The decentralised security the business offers allow users to accelerate their self-sovereignty while ensuring high-level security of the private key. Presently, UKISS Technology’s Hugware has been patented in more than 20 territories across the United States, China, India, Singapore, and other parts of Southeast Asia.
Meet the UKISS team
Aboard the UKISS team is James Gan, its Chief Executive Officer (CEO), Desmond Hsu, its Chief Technology Officer, Ben Chan, Director, and Tan Ze Chong, Chief Strategy Officer. The business also comprises the company’s Board of Advisors from across the region.
Gan and Hsu shared with e27 that UKISS found its beginnings when Hsu successfully re-engineered his hardware recovery technology to support both file encryption and cryptocurrencies. He developed the hardware recovery technology in 2010 when cloud platforms were gaining popularity, resulting in demand for file encryption among enterprises. In 2013, Hsu filed for a patent for the technology, until it grew into what it is today.
Developing a sophisticated product of protection
Among the issues that UKISS addresses in today’s increasingly digitalised landscape are the factor of human error. Gan tells e27 that in manually securing their assets, users tend to miswrite their phrases, lose their phrase sheets, or even worse, give up their phrases to scammers. In effect, they risk losing their crypto assets.
“Human error is still a threat to asset security, including those in the Web 3.0 community. One example is poor seed phrase management. These are passphrases that individuals use to secure their crypto assets,” explained Gan.
UKISS’ technology helps with this by taking the seed phrase out of the equation and providing a hardware-based recovery solution that is easier to manage. Hsu added that accessibility is also important, which is why UKISS has committed to tapping into a wider market of users than what is usually reached by most hardware crypto wallets out there.
What sets Hugware apart from other recovery services, is that those who already have digital assets can use Hugware for protection from hackers. If they forget their password or lose their device, they can reset or restore access with their backup, called the Rescue Key. This makes it a completely simple and user-friendly digital security device designed with its recovery procedure.
As for what’s next on the horizon for UKISS, Gan and Hsu let us in on a mobile-first strategy in place to expand Hugware’s functionalities that are currently in the works. Developing its decentralised ecosystem further will be a huge leap in helping users protect the security of their data and digital identities in the metaverse or on other decentralised platforms that may emerge in the future.
“Asset security is the topmost priority among Web 3.0 users right now. Next, users may be concerned about the security of their data and digital identities in the metaverse or on other decentralised platforms that may emerge in the future. As security needs evolve, we hope that users can turn to the UKISS ecosystem for decentralised solutions,” shared Hsu.
“The crypto community is international, so we hope to grow our presence regionally and in other parts of the world, such as the United States and Europe. We already provide worldwide shipping for Hugware,” added Gan.
For more information, visit https://www.ukiss.io/.
To purchase Hugware, visit https://www.ukiss.io/hugware/.
This article is produced by the e27 team, sponsored by UKISS Technology
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