TrustGrid Pty Ltd today announced the worldwide launch of TrustGrid™, the world’s first digital trust ecosystem. With a high degree of privacy, security, and integrity, the solution facilitates technology interfaces between government entities and private organisations, providing services to suppliers, end users, customers, citizens and constituents. TrustGrid enables government, enterprise and organizations to create secure digital ecosystems available through a software-as-a-service (SaaS) model, anywhere in the world with sovereign control of data and maximized citizen privacy. This outcome can be delivered with unlimited scale and unprecedented speed.
The growth of online cybersecurity, data and identity theft has reached epidemic proportions, and is quickly becoming the crime of the new millennium. According to a 2021 report from Reportlinker, the global fraud detection and prevention market was valued at USD 18.24 billion in 2020 and expected to reach USD 40.8 billion by 2026 with a CAGR of 18.17% over the forecast period (2021-2026).
Four years in the making, TrustGrid is powered by emerging distributed ledger technology, known as blockchain, and a unique patent-pending fabric that interoperates with legacy services and microservices relevant to various use cases within the government and private sector. TrustGrid has effectively orchestrated multiple state-of-the-art technologies into a single platform. TrustGrid combines innovative cryptography, data privacy, confidential computing, and distributed ledger technologies into a highly customizable digital ecosystem platform.
Santosh Devaraj, CEO and founder of TrustGrid Pty Ltd said, “We have invested almost five years into the development of this world’s first technology that will solve a global crisis of security in data and digital identity. TrustGrid is bringing to market a digital ecosystem that’s empowering individuals worldwide to take back total control of their digital identity, personal data and how they are used and verified by external constituents, in both public and private entities.”
“Calling upon our many years of expertise in cybersecurity, TrustGrid is available worldwide as a SaaS model, enabling organizations to create secure digital ecosystems from anywhere in the world with sovereign control of data and maximized citizen privacy, delivered with unlimited scale and unprecedented speed.”
The surge in cyber and identity crimes has accelerated the need for faster, smarter, and more secure privacy and authentication digital solutions on a government, enterprise and citizen level. TrustGrid addresses these challenges by unleashing a high degree of privacy, security, and integrity via a distributed trust network. This simplifies the management of shared information, delivers superior confidentiality and enables government agencies to access and use critical public sector data while maintaining the privacy and security of citizens’ data.