Technological Innovation key to stop Cyber Attacks said Ian Levy, Technical Director at UK’s National Cyber Security Center (NCSC). He added that the current set of cyber defense technologies offered by traditional suppliers are not enough to contain the present set of sophisticated cyber Attacks taking place in next five years and that is where an improvement is much needed.
All these words were told by the director at the launch of the second GCHQ Cyber Accelerator in London.
The GCHQ Cyber Accelerator program is aimed to nurture startups both technically and financially provided they have a potential to bring in a change.
And as per the sources reporting to Cybersecurity Insiders, more than 100 cutting-edge cybersecurity entrepreneurs and startup firms are said to have applied to join the program. Here, representatives of the participating companies are asked to pitch their products and services at the event to attract potential investors.
One company which is attracting the attention of most investors is Cryptocurrency firm Elliptic, which aims to bring in innovation into the field of digital currency by keeping cybercriminals out of Cryptocurrencies.
James Smith, the CEO of Elliptic believes that crypto will be a part of the future driving a $10 billion market in 2018. At the same time, he is also concerned that the same currency will lead to an increase in cybercrime as digital coins like BTC or Bitcoin are used to pay for most illicit services or goods.
Mr. Smith said that Elliptic will help in tracking down transactions to the core by working with cryptocurrency firms and law enforcement in the US, UK, and Europe to identify and investigate cybercriminal activity.
In the same way, RazorSecure a company which offers network security to transport sector is also gaining a lot of limelight at the event. It says that its product catalog has a slew of solutions which help securely connected cars.
More details on the companies attending the Cyber Accelerator will be updated shortly!
