Overledger Business Paper
10 March 2018Download PDF (517kb)
It’s become clear that many of the cybersecurity approaches taken over the last 20 years just aren’t working. We have reached a crisis of trust in the digital world caused by limitations in the security of network technology. As the digital world is becoming bigger and more people are using it to transact through eCommerce or valuable information through sharing of data, what’s required now is a rethink. It’s vital to address cybersecurity and issues of trust and safety and to look at how we’re tackling and solving them.
Quant Network has developed solutions to these challenges. And this is why Tech Nation, the Government funded UK network for ambitious tech entrepreneurs, has chosen Quant Network as one of the 20 leading scaleups for their national cybersecurity growth programme.
And we’re in good company, as the cohort includes companies from all over the UK, with technologies ranging from machine learning to biometrics and cloud solutions, as well as blockchain.
Quant Network is using emerging technology such as blockchain, and next-generation tokenisation to solve those security challenges. The Tech Nation initiative is designed to boost the UK’s cyber sector, accelerate the growth of its top companies and build a robust, cross-industry network. This will enable the community to grow a market need around cybersecurity and scale up so they can expand into other markets.
With GoVerify we’re at the forefront in the battle against fraud resulting from impersonation and perception scams, which is a growing problem. According to UK Finance, £553.3 million was lost to phishing emails and scam texts in 2018. Before you enter your account details GoVerify ensures that correspondence you receive purporting to be from your bank is indeed from your bank. Verifying that correspondence from trusted providers is legitimate means you know what can be trusted and what is a scam before you give any information that could be used to steal your identity or get direct access to your funds. In this way GoVerify prevents phishing attacks, protecting people from impersonation and deception fraud as widely as possible.
GoVerify is just the start. It’s just one technology that solves that one problem but we have a whole roadmap of other cybersecurity products for the future. We are proud to be part of building a new Internet, one we can trust. And with the support and endorsement of the Tech Nation programme we can’t wait to see what can be achieved both as a company and as a network.