Dyadic Secures The Breach

Periodic Reporting for period 2 - DSTB (Dyadic Secures The Breach)

Okres sprawozdawczy: 2016-04-01 do 2017-03-31

In DSTB, Dyadic’s Distributed Security Module has been developed and commercialized. This unique software-only offering provides the highest level of security while being affordable and easy to deploy. In a nutshell, Dyadic prevents the theft of the cryptographic keys and authentication credentials that protect an organization’s assets and clients. This defense is achieved by splitting secret keys and credentials into multiple parts and using them without ever bringing them to one place where they may be stolen.
The outcome of DSTB is a tool that provides high security to organizations and protects digital assets even in the event of a network breach.

The objectives of the DSTB and their accomplishment included:
1) Product Research and Development as to accelerate the product road map of Dyadic’s DSM technology indeed, this culminated in the release of the final version of the product following progressive updates.
2) Accelerate Growth – So far, Dyadic has signed agreements with four customers, has 15 completed or defined plan for deployment of Proofs of Concept, and there are over 25 prospects of active sales opportunities that are being pursued.
3) Enable Global Reach and penetration into new markets has continued, as seen in the recruitment of global distributors, participation in major trade shows and the extensive media exposure.

The second year of DSTB was very productive and successful.
The work on protocol design has been finalized with additional enhancements. Customer protocol needs have been addressed continuously. Some of them were responded to in the second year of DSTB.
The setup of the Dyadic Anomaly Detection tool, which aggregates data from all servers and analyses normal system behavior and then notifies the administrator of any exceptions or anomalies, has been detailed, including the securing of the data stream between Anomaly Detection and Dyadic Servers, the starting of the anomaly detection service and its run procedures. Nonetheless, it was later decided to abandon Anomaly Detection. In addition, the design document and detailed specifications and protocols have been prepared and finalized.
This allowed to release a major interim version of the software on M18 and then the customer version, long before the planned deadline.
Work on customer engagement has been one of the major focuses of Dyadic. A structured sales cycle on received lead was applied; and a flexible price list that allows the customers to pay as they grow with the Dyadic solution was implemented. A revenue model was created, and it is less sensitive to the changes in the pricing model.
Dyadic has achieved some major engagement since March 2016. It has four paying customers and has defined or completed plans for 15 Proofs of Concept. Dyadic is in advanced sales stages with 25 prospects, among them large global banking and financial enterprises. Dyadic has also acquired seven distributors and achieved more than a hundred sales meeting. All this resulted in increased revenue to $1.75M in the second year.
Numerous dissemination activities in the web and social media, conferences and fairs, newsletters and press releases, interviews and more have progressed effectively. Indeed, Dyadic has created a substantial media and marketplace presence.
Social media marketing is continuing to leverage Dyadic’s impact in LinkedIn, Twitter, Facebook and the company blog (eight posts). This social media activities are targeting security managers, buyers and other target audiences with posts on cryptography, with emphasis on multiparty computation, including mathematical advancements, tutorials and introductory information and more, and posts on security topics.
Participation in 12 conferences and trade shows was undertaken, and this led to a large number of leads. One scientific paper has been submitted for publication.

The impact of the developed technology has been demonstrated in several markets, particularly Germany, UK, USA, Japan and Israel, as seen from its acquiring of paying customers and the recruitment of seven global distributors. Other corporations have agreed on setting up proof of concepts because they have sensed that the activities of DSTB could impact their operations. All these customers and potential customers find DSM to answer their exact needs.
With the closing of this very successful project, we expect to continue the implementation of the software in various proofs of concept and many clients, as well as the expansion of the commercialization of the cyber security technology created in this exciting project and diverging into new markets in Europe and elsewhere.

The game-changing product of DSTB is entirely beyond the state-of-the-art in concept and cryptographic design. Its impact will certainly be felt, because cyber-security attacks are growing, evolving and expanding and breaches of the safety mechanisms are continuously increasing. They are not confined to particular locations or industries, and wreak widespread havoc on all those who depend on the web. The danger of cyber-attacks has also become a reality for everyone.

Cyber-attacks can have diverse and far-reaching impacts on companies, most notably:
• Direct financial loss due to regulation in the cases of stolen identities and credit-card numbers.
• The exposure and loss of intellectual property and other sensitive and confidential business information.
• The use of stolen information for possible stock market manipulation.
• A general lack of trust for online activities.
• The opportunity costs, including service and employment disruptions, resulting from such attacks
• The additional cost related to securing networks post cyber-attack including insurance and recovery efforts
• Reputational damage to the hacked company

Dyadic's cutting edge product is thus relevant for a wide variety of industries and domains. Heavily regulated industries such as healthcare, financial, pharmaceuticals, and communications have a per capita data breach cost substantially above the overall mean. For this reason, Dyadic directs the majority of its marketing and sales resources to those specific segments, in addition to industries in education, defence, e-commerce and insurance.

Cryptic mask used for promotion

Dyadic's solution to protecting keys

Periodic Reporting for period 2 - DSTB (Dyadic Secures The Breach)

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