On the 18th of July 2024, Co-Founder and COO of Vaultree, Tilo Weigandt, sat down with several leading experts in cybersecurity, cryptography, and secure AI/ML implementation. Including:

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• Rik Ferguson: Vice President of Security Intelligence at Forescout 
• Dr Jacob Mendel: Head of Cryptography and Cybersecurity at State Street LLC
• Melissa Duke: Vaultree AI/ML Lead
• Anil Kumar Pradhan: Vaultree Cryptography Research Lead

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With Tilo as host, these experts spent the engrossing 60-minute webinar discussing the past, present, and future of Fully Homomorphic Encryption (FHE) in the context of Vaultree’s groundbreaking new FHE algorithm.

In this blog post, we will detail the key talking points of this discussion, the key takeaways and learnings provided by these experts and precisely how Vaultree’s FHE algorithm is staged to change the world of data usability.

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For the On-Demand Version of this Webinar - Click Here!

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Key Trends Shaping the Encryption Landscape 

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The Imperative of Data Security 

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The webinar began with an insightful discussion on the critical need for advanced data security. Tilo emphasised that data breaches are inevitable, “a question of when, not if,” making robust encryption essential. Tilo continued by stating Vaultree’s role here, to "keep data encrypted even during use, addressing vulnerabilities and compliance challenges.”

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This sentiment was echoed by Rik Ferguson, a foremost expert in the field of cybersecurity, who highlighted the historical under-deployment of encryption due to fears and complexity. Ferguson pointed out that evolving ransomware threats now make data-in-use encryption a necessity, stating, “the only answer to that kind of threat is effective encryption, but it needs to be encryption that is not going to slow the business down." Here, Ferguson is referencing the trade-off organisations are currently making with data protection protocols such as tokenization or previous implementations of FHE, wherein speed and usability of data operations must be sacrificed for security.

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Understanding and Advancing FHE

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The session then delved into the principles and advancements of FHE over the years. Dr Jacob Mendel, an expert in encryption technologies, including FHE, provided a comprehensive overview, noting that “FHE is essential for end-to-end data security, enabling computations on encrypted data without decryption.” This train of thought was then picked up by Vaultree’s head of cryptographic research, Anil Kumar Pradhan, who referenced both the importance of data-in-use encryption methodologies and the limitations previous iterations of FHE have been plagued with.

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This background was important to understand what came next as Pradhan began discussing Vaultree’s advancements - “Our FHE algorithm significantly reduces performance overhead and storage requirements, making it practical for real-world applications." With this statement, Pradhan has effectively shared that Vaultree has captured the holy grail of encryption, making enterprise-scale FHE implementation a reality for the very first time. 

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Applications and Impact 

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Following on from her Vaultree colleague, Melissa Duke, head of AI and ML, discussed the practical applications of Vaultree’s FHE, particularly through Vaultree Encrypted Data Sharing (VEDS). This technology, made possible through the Vaultree FHE algorithm, allows secure, collaborative analysis of encrypted data using unique, customer-owned, secure keys. 

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In reference to the adoption of AI and ML technologies, Duke said “VEDS enables secure model training and inference without exposing sensitive data,” highlighting its applications in healthcare, financial services, law enforcement and further. Enforcing this statement, Ferguson added that Vaultree’s cloud-native architecture is designed for modern data-sharing challenges, ensuring secure cooperation on sensitive information.

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Collaborations and Community Engagement 

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Melissa Duke then underscored the importance of community involvement in advancing encryption technologies: “We invite researchers and tech enthusiasts to collaborate with us, driving innovation and validation.” This collaborative approach not only enhances Vaultree’s solutions but also fosters broader industry engagement.

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Rik Ferguson emphasised the practical implications of such collaborations, particularly in sectors like pharmaceuticals, legal, and government, where secure data sharing is paramount.

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Q&A Recap

Question 1: What strategic partnerships does Vaultree have, and how do they benefit the deployment of the FHE technology?

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This question was passed to the author of our recently published paper on our FHE advancements, Anil Kumar Pradhan: "We are collaborating with numerous academic institutions and industry partners. For instance, our FHE technology is being tested and validated by professors at various universities, including the New Jersey Institute of Technology (NJIT). These partnerships are crucial for assessing our schemes' security and usability across different use cases."

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Supporting this, Tilo added, "in addition to academic partnerships, we have official collaborations with industry giants like Google. These partners play a vital role in verifying and validating our algorithms, helping us build trust and credibility around our innovative solutions."

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Question 2: How does Vaultree’s FHE scheme compare to other schemes like TFHE and CKKS in terms of performance and storage overhead?

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Again, Pradhan, the lead of Vaultree’s cryptography team, answered this: “Our FHE scheme has been designed to address the significant performance and storage overheads typically associated with FHE. We've benchmarked our algorithm and found it to be significantly faster and more efficient than existing schemes. While the exact performance can vary depending on the use case, our improvements make it practical for real-world applications without requiring specialised hardware."

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Question 3: What industries can benefit the most from Vaultree’s FHE technology?

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Guest speaker and cybersecurity expert Rik Ferguson took this question: "Industries that are heavily reliant on data and intellectual property will find Vaultree's technology particularly beneficial. This includes sectors like pharmaceuticals, oil and gas, defence, and healthcare. The ability to securely share and process data without compromising privacy is crucial for these industries. Additionally, government and legal sectors can greatly benefit from enhanced data protection, especially given the increasing threats from state-aligned hacking activities."

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These are just some of the potential industries that can benefit from this breakthrough in FHE technology. Truthfully, the potential scope here is limitless; if your business works with data, Vaultree FHE can benefit organisations.

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Question 4: How does the scheme's ciphertext expansion compare to other FHE schemes?

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Anil Kumar Pradhan: "Ciphertext expansion is a known challenge with FHE schemes, but our approach minimises this issue. While we still see some expansion, it is significantly less than traditional schemes. Detailed benchmarks and comparative analyses are available in our published articles, which highlight the efficiency gains we've achieved."

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Question 5: How can I learn more about Vaultree and get involved?

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Tilo Weigandt: "We encourage anyone interested in learning more about Vaultree to visit our website and LinkedIn page. You can also reach out to us directly for demos and detailed discussions on how our technology can be applied to your specific needs. We are always open to collaboration and eager to engage with the community to drive innovation forward."

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Additional Information and Future Webinars

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For the full conversation, check out the recorded Webinar here! Our next webinar, focusing on Vaultree's data-sharing solutions, is scheduled for next month. If you want to find out more or register, please click here!

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