In the worlds of cybersecurity, there is much attention given to safeguarding sensitive data from loss or exposure. Many companies do not realize that the information they manage is vulnerable in the process of transfer. This is particularly true when information is shared between customers, partners and business associates.

Management of confidential data exchange is crucial to preventing data breaches and maintaining trust with customers, stakeholders, and business partners. Security breaches that expose confidential information can inflict irreparable damage to brand reputation and trust. This is particularly applicable to healthcare which is where HIPAA requires facilities to provide secure ways to share patient information electronically.

The other industries aren’t any different. Retailers and ecommerce platforms need to secure their customers’ private information when they purchase products online, and educational institutions must keep their student records secret to prevent identity theft. Financial institutions must ensure that sensitive files are protected when they transfer files to business partners.

While safeguarding specific locations on servers, systems, and in the cloud is an important aspect of managing confidential data This approach can be unflexible for companies that frequently collaborate with third-party companies and need to share confidential documents. Alternatively, businesses can rely on encrypted software solutions like those from Anjuna, CanaryBit, CYSEC, Decentriq and others that use encryption and zero-knowledge proofs to allow for confidentiality-preserving sharing.

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