All Blockchain Files Patent for EBI Blockchain Drive
Company to offer innovative ransomware solution that covers an important need in the security market
JACKSONVILLE, Florida, July 6, 2022– (BUSINESS WIRE) – Everything Blockchain Inc., (OTCMKTS: OBTX), a technology company that enables the use of blockchain in the real world to solve critical business problems, announced today that they have filed a patent application for EBI Blockchain Drive ( EB) Drive). EB Drive, one of the first blockchain-enabled ransomware solutions, will enable companies to protect themselves from the threat posed by the ever-increasing problem of ransomware attacks.
The Verizon Data Breach Investigations Report (DBIR) found that the number of ransomware attacks increased by 13% between 2020 and 2021 – a larger jump than the last five years combined. Cybersecurity Ventures predicts ransomware will cost its victims around $ 265 billion annually by 2031, with a new attack (on a consumer or business) every two seconds. The threat of ransom affects all industries, from oil and gas to hospitals, retailers and payment processors.
Conventional approaches to data storage rely on a local or network hard drive, and both are vulnerable to ransomware attacks when legitimate user credentials are compromised. In these cases, an attacker encrypts data until a payment is received, but there is no guarantee that an attacker will ever decrypt the data, leaving organizations lacking a backup and recovery strategy at a serious disadvantage. EB Drive ensures that data is consistently backed up in an immutable blockchain book that will protect a company’s intellectual property in the event of a ransom program.
“EB Drive’s innovative and new use of the blockchain’s inherent immutability ensures that locally stored data is impervious to ransomware attacks from bad players,” said Cedric Harris, Chief Research Officer, EBI. “With EB Drive, we bring a winning ransomware solution to the market that enables all businesses, regardless of industry, to protect their data.”
“The development of blockchain technology into tangible assets is the natural evolution of the industry, and a confirmation of our business philosophy: blockchain for all and sundry,” said Eric Jaffe, CEO, EBI.
About Everything Blockchain, Inc.
Everything Blockchain, Inc. (OTCMKTS: OBTX) envisions a future where every transaction is trusted and blockchain is used to meet ESG targets, support the cities of the future, build and control the transparency of supply chains and ensure that data ownership rights are maintained forever. The company’s patented advances in blockchain technology deliver the essential elements needed for real business use: speed, security and energy efficiency. Current sub-brands include: EB Advise, EB Block and EB Control. For more information, please visit https://www.everythingblockchain.io/
Forward-looking statements
This news release contains “forward-looking statements” that are not purely historical and may include statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend “,” believe “,” estimate “,” expect “,” project “,”, “plan “or similar phrases can be considered” forward-looking statements “within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ from those projected in any forward-looking statements due to a number of factors. Such factors. includes, among other things, the inherent uncertainty associated with new projects, future US and global economies, the impact of competition and the company’s dependence on existing regulations regarding the use and development of blockchain and zero trust-based products. These forward-looking statements are provided from the date of this press release, and we undertake no obligation to update the forward-looking statements, or to update the reasons why actual results may differ from those projected in the future – see statements. Although we believe that any beliefs, plans, expectations and intentions in this press release are reasonable, there can be no guarantee that such beliefs, plans, expectations or intentions will prove to be accurate.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220706005178/en/
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