The relevance of data security in the digital space
In today's world, where the Internet and digital technologies play an increasingly important role in our lives, data security is a particularly important issue. The security of our digital information is becoming increasingly important as the number of cyberattacks and data breaches increases, especially in B2B commerce. Data security must also be treated sensitively in the roller bearing trade, as traders process and store large amounts of confidential data, such as prices and inventories, which are essential for business success.
This article discusses the relevance of data security in the digital space and presents the most important aspects of data security as well as possible measures to remain master of one's own data in B2B trading.
Definition
Data security involves protecting digital information from unauthorized access, damage or theft throughout its lifecycle. This includes all aspects of information security, from the physical security of hardware and storage devices, to management and access controls, to technical security measures such as encryption and firewalls. The key objectives of data security are confidentiality, integrity, availability and authenticity.
Cybercriminals use various methods to gain access to secured networks, with phishing being the most common. This form of cybercrime aims to steal personal information such as passwords, credit card numbers or bank account information. In doing so, the attackers try to impersonate trusted entities such as banks or insurance companies, usually through seemingly legitimate emails or websites.
Here's what you can look out for:
- Spelling errors
- General salutation
- Urgent call to action (avoid direct links)
- Sender's email does not belong to the alleged institution
In the digital world of commerce, malware or ransomware, is one of the most significant threats to data security. Malware is a collective term for various types of malicious software that is installed without the user's knowledge or consent. It includes a variety of types, including viruses, worms and Trojans. The latter can disguise themselves as harmless programs while performing unwanted activities in the background, such as transferring sensitive data to unauthorized third parties. Ransomware, on the other hand, is a special type of malware that aims to block access to a computer or network or encrypt data until a ransom is paid. In the worst case, this can cripple an entire corporate network.
Here's what you can watch out for:
- Keep anti-virus and anti-malware programs up to date
- Regular software updates
- Robust backup strategy for fast recovery
Employees are a risk factor for security breaches in the company that should not be underestimated, especially due to increased remote working. Mistakes, misunderstandings, unintentional errors or inattention in everyday work can lead to data breaches or even cyber attacks. Examples include saving passwords, unprotected use of USB sticks, downloading a malicious attachment, or storing work equipment insecurely.
Here's what you can look out for:
- Create awareness of digital attacks
- Employee training Policies and technology controls
- Information about current cyber threats or practices
- Establish 2 factor authentication.
Social platforms are often underestimated as a threat, even though they have become an integral part of our digital world and are also used intensively by rolling bearing dealers. Attackers use them to obtain personal information and spread malware by, for example, posing as service personnel and asking for login data. Criminals have also been known to hack corporate profiles to obtain confidential information or spread misleading information that can harm the company.
Here's what you can watch out for:
- Do not disclose sensitive information on social media
- Strictly control access to company profiles
- Restrict access to limited number of employees
- Strong password management.
This threat is about the malware mentioned above, but it installs itself on the used device when simply visiting a website - without the user's intervention and usually without his knowledge. In doing so, the user does not even have to click on a download link. This is often made possible by security vulnerabilities in web browsers or plugins.
Here's what you can look out for:
- SSL certificates Security updates
- Professional antivirus software
Decentralized data processing systems, especially peer-to-peer (P2P) networks, have the potential to provide data security at a new level. P2P networks are systems in which all computers can request and provide data equally, making these networks more robust to attacks compared to traditional centralized systems. Decentralization ensures that no single point represents a critical failure for the entire system.
In addition, there are concepts for distributed data protection that use free resources of workstation computers while incorporating measures to ensure the authenticity and confidentiality of the data to be secured. These decentralized approaches make it possible to distribute data across a network of computers while ensuring that the data remains confidential and authentic.
However, there are also privacy challenges in P2P systems, as personal data is widely dispersed across the use of the service. Therefore, system design as well as information to affected users is of particular importance. Overall, however, P2P systems offer promising potential for decentralized and secure data processing and storage if implemented and managed correctly.
BEARING X has also given special importance to the protection of your data and created a secure marketplace for digital B2B trading. Unlike traditional marketplaces, BearingX does not store data centrally, but on decentralized server instances to which only the respective users have access. For further protection, access is bound to IP addresses, which means that users can only trade on BearingX within the network of the participating company. This way you can remain master of your own data even without your own IT resources and benefit from compliance with German data protection regulations. Data is only exchanged between the server instances directly after the completion of a purchase. There is no data transfer between user and BEARING X.
