Hai Pham - Week 6

One best common way for data encryption for now and future

For all financial institution, data encryption for both online transaction and data at rest would be extremely critical and important.  Without proper way of protect sensitive the data that is transfer or at rest, companies will run into the big problems such as damaging reputation, losing the trust from customer and paying for penalties. 

With that concern, let see what would be the best way to do data encryption to protect the enterprises.  This week, I am going to talk about one of the best way to do the data encryption to protect the data.

DES is stand for Data Encryption Standard.  DES was developed back in 1970 at IBM and it was considered to be one of the most secure options at that time.  However, it had some security holes due to the use of 56-bit key size, it was a bit short and hacker took the advantage on this and exploited it.  To improve the DES, a Triple DES came out to fix the issue of DES.  It uses three key with 56 bit each and this helped strengthen the encryption with the total of 168 bit in length, that was sufficient for data encryption.

Even though Triple DES has been out there for different organization and business to use (published in 1998) but it is still one of the top five data encryptions for financial institution for the current time and future. 

 

Reference:

StorageCraft Technology Corporation. (2017).  Retrieved from https://www.storagecraft.com/blog/5-common-encryption-algorithms/