Strengthening cybersecurity measures in the face of Web 3.0

UKISS technology

James Gan, Chief Executive Officer (left) and Desmond Hsu, Chief Technology Officer (right)

As more and more industries digitize and consumers turn to online methods of dealing with businesses, cyber security becomes increasingly crucial. In Southeast Asia, problems with data breaches and attacks on digital industries such as cryptocurrency and NFTs are a cause for alarm, especially given the pace and scale of digitization in the region. Owners of crypto-assets need to be on their toes that any potential market breaks could lead to problems in the share prices of individual companies, apart from disrupting the global crypto market as a whole.

Digital users must be careful with their online assets if they are to make a profit from them, and the answer to these problems is to increase their cyber security defenses. Of course, this also applies to companies that primarily deal with online assets that work to avoid infiltrations and online attacks.

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While the discussion of cyber security has existed even before the 2020s – considered a problem occurred in the mid-to-late 2010s, when the potential of digitization made a global splash—few industry leaders have innovated toward the possibility of providing more robust cybersecurity services to customers. Among these innovators are UKISS technologya Singapore-based startup that aims to make user-driven crypto and data security easy for everyone.

What is at stake for users

UKISS Tech CEO James Gan noted that with greater digital autonomy comes greater responsibility. Digital users of the web currently need to keep track of and protect their assets, as no centralized institution can help them retrieve forgotten passwords or lost assets.

This is where UKISS’s services come in handy. The cybersecurity company develops reliable, cutting-edge solutions that are easy for anyone to use with confidence. Its cutting-edge technology is highlighted in its UKISS Hugware® technologydesigned to preserve the confidentiality of users’ private keys while recovering those keys if users lose their authentication device.

UKISS technology

“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 cryptographic or encryption products. But that may change in the future as NFTs, virtual land and cryptocurrencies become mainstream,” explained Desmond Hsu, Chief Technology Officer (CTO) of UKISS

Hugware offers master-seed synchronization that does not need to be translated into recovery phrases, which are often subject to human error, phishing or theft. This makes it perfect for even new users dabbling in crypto for the first time.

In addition to Hugware, UKISS is developing a ecosystem of interconnected digital security services that ensure seamless and transparent protection. These include encryption, authentication and authorization. The decentralized security offered by the company allows users to accelerate their self-sovereignty while ensuring high-level security of the private key. Currently, UKISS Technology’s Hugware has been patented in more than 20 territories across the US, China, India, Singapore and other parts of Southeast Asia.

Meet the UKISS team

On board the UKISS team are 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 includes the company’s advisory board from across the region.

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Gan and Hsu shared e27 that UKISS found its beginnings when Hsu successfully reengineered his hardware recovery technology to support both file encryption and cryptocurrencies. He developed the hardware recovery technology in 2010 when cloud platforms gained popularity, resulting in demand for file encryption among businesses. In 2013, Hsu applied for a patent on the technology until it grew into what it is today.

Development of a sophisticated protection product

Among the issues that UKISS addresses in today’s increasingly digitized landscape is the factor of human error. Gan tells e27 that when manually securing their assets, users tend to misspell their phrases, lose their phrase sheets, or worse, give up their phrases to scammers. In fact, 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,” Gan explained.

UKISS’s technology helps with this by taking seeding 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.

UKISS technology

What sets Hugware apart from other recovery services is that those who already have digital assets can use Hugware to protect against 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 very 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. Further developing its decentralized ecosystem will be a big leap in helping users protect the security of their data and digital identities in the metaverse or on other decentralized platforms that may emerge in the future.

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“Security of assets is the highest 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 decentralized platforms that may emerge in the future. As security needs evolve itself, we hope users can turn to the UKISS ecosystem for decentralized 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 US and Europe. We already provide worldwide shipping for Hugware,” Gan added.

For more information, visit https://www.ukiss.io/.

To purchase Hugware, visit https://www.ukiss.io/hugware/.

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This article was produced by e27 team, sponsored by UKISS Technology

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