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Periodic Reporting for period 1 - TRIDENT (TRIDENT ELASTIC HSM PLATFORM)

Reporting period: 2020-01-01 to 2020-04-30

• What is the problem/issue being addressed?

Although the use of encryption in the business is increasing, most of the data are still stored unencrypted. Companies apply improved security measures but still suffer from cyberattacks and data breaches. Even though hardware security modules (HSM) are the most secure options in cryptographic processing and key management, they are expensive, and their usage is limited to large entities. I4P Ltd. has developed the world’s first multi-party HSM module, which can distribute encryption keys on several devices, thus significantly reducing the security risk. Built on this HSM, I4P aims to develop a scalable cloud-based system (TRIDENT ELASTIC HSM PLATFORM), and E-privacy services based onthis platform, which offers the most comprehensive crypto security services even for users with a single, entry-level HSM device. Besides the large enterprises and organisations, Trident Elastic HSM platform will be available to a great number of cost-sensitive SMEs, significantly increasing the security of digital information management.

• Why is it important for society?

As digital technologies gain share across all businesses, e-privacy is becoming crucial to all players. The most vulnerable market players are the cost-sensitive small and medium enterprises, who cannot afford the most secure and up-to-date cryptographic solutions. The TRIDENT ELASTIC HSM PLATFORM offers the organisations and companies unparallel security at affordable cost, primarily on the following areas:

1. GDPR Compliance for companies – TRIDENT’s solution for general GDPR compliance for employment addresses the growing need of employees, who want to be the dominant player, practically enforcer of the secure protocol, as data providers, in contrast with legacy human resource management systems or traditional HR protocols, where data collector is the enforcer (the company). TRIDENT users gain total control over their employment data and other personally identifiable information (or personal data as referenced in GDPR), while the multi-party HSM system ensures cutting edge security. The two-sided platform mediates between employees and companies by providing split access control and secure data share between the relevant parties.

2. Patient Data Privacy Service – TRIDENT’s solution for the E-Health application introduces a disruptive approach to the share and storage of patient data. Powered by the HSM Elastic Platform, TRIDENT E-Health Privacy service addresses the growing need of patients, who want to be the dominant player and enforcer of the secure protocol, as data providers. TRIDENT users gain total control over their health data, while the multi-party HSM system ensures cutting edge security. The two-sided platform mediates between patients and General Practitioners (GPs) or larger Healthcare institutions, by providing split access control and secure data share between the relevant parties.

3. General Personal Data Access Control – TRIDENT offers a mobile application-based solution for the mass consumer market, that enables the available most secure and reliable way for personal users to generate, store, share and manage their cryptographic keys, to protect access to their data.

4. Digital Document Security Service - TRIDENT’s solution for the Document Security application introduces a disruptive approach to disclose and enclose private or public documents safely. In this service, sensitive data that is not stored at discloser’s premise, and access to them can be revoked at any time, while a trusted third party can help to decrypt encrypted data.

• What are the overall objectives?

This feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business of I4P and the proposed innovative ELASTIC HSM Platform and E-privacy services, opportunities and threats present in the environment, the resources required to carry through, and ultimately the prosp
In the SME Instrument Phase 1 Feasibility Study, we performed the following works:

1) Technical feasibility study to assess the hybrid crypto security system in context to the available technical solution and opportunity if the multi-computation nature. We have concluded that the HYBRID TRIDENT ELASTIC HSM PLATFORM offers technological opportunities in the following specific areas:
• The possibility of immediate on-demand performance increase - still with a single unit at the user site. A temporary performance increase with the help of the cloud-based HSM cluster will cost a fraction of the price of an oversized HSM installed at the user.
• Add additional capacity as a rented service to drastically reducing or eliminating the capital costs.
• It offers cryptographic backup and disaster recovery services, which generally require expensive redundant infrastructure.
• A high-level crypto security service (without losing control over the security key) becomes affordable for lower-budget SMEs.

2) Market feasibility, to define:
• The overall market, main technology trends, the key drivers of the crypto security market,
• Market segmentation, key players,
• Market analysis by Porter’s five forces analysis.

3) Competitor landscape with a detailed analysis of all potential competitors, including the HSM manufacturers and the service providers.

4) Business model validation:
• Define the most suitable business model for the elastic system’s commercialisation
• Identify the Route-to-market alternatives
• Update the initial business plan
• Make a preliminary revenue projection for the next 5-years business period

4) Risks and opportunities of the market introduction.
Phase 1 feasibility assessment has successfully validated our initial business concept to develop and introduce the Trident Elastic HSM Platform. During the project, we identified the specific applications where our innovation can have the highest socio/economic impact with sufficient revenue and profit to develop the business and the company/.
For the final development and successful launch of the TRIDENT platform, we have concluded to apply for the EIC Acceleration program to bring forward the launch by years and offer the most cryptographic services to a wide range of organisations and business users.