Metals giant Danieli signs with Naoris for global blockchain-based cybersecurity solutions

Press release: Yellow Jersey PR

Naoris will provide a blockchain-based cybersecurity solution for Danieli, one of the world’s largest suppliers to the steel industry. Following an initial cybersecurity consultation, the companies have agreed to collaboratively implement blockchain-based cybersecurity solutions across part of Danieli’s data servers worldwide. Naoris have already performed a comprehensive assessment of Danieli’s data infrastructures, as part of the metal supplier's continued investment in its cybersecurity strategy. Established more than a century ago, Danieli is a top three provider of equipment and plants to the metal industry worldwide, achieving revenues of €2.49bn in 2016/17 and employing 10,000 people globally. It is estimated that the cost of an average data breach exceeds €3m, rising above €300m for major breaches (where 1 million to 50 million records are lost). A robust cybersecurity system is therefore essential for blue chip organisations such as Danieli in order to protect significant amounts of sensitive company and client data. In the current cybersecurity model, every device used by employees can act as a vulnerable entry point in order for a hacker to get access to a system and infiltrate the entire network.

Naoris’ cybersecurity platform, Naoris SE (Security Ecosystem), uses AI and blockchain technologies to place cyber alert results onto an immutable ledger where they become accessible and independently auditable. For a threat actor to be successful in such an environment, they would have to hit the potentially massive immutable blockchain network all simultaneously. Its consensus ecosystem offers near instantaneous detection, allowing fixes to occur before attacks have time to spread.

Naoris’ model further creates a decentralized peer-to-peer format that enables a new device to learn from the behaviours of its neighbours. Naoris’ platform is agnostic to devices and operating systems and is infinitely scalable – able to accommodate countless devices.

This eliminates weak single points of failure, so that while traditionally networks become weaker as more devices are connected, Naoris’ solution allows networks to become exponentially more secure and agile as they expand. Its solutions are optimum for large hard to defend environments including governments and large corporations in the private sector, such as Danieli. As part of the relationship, Naoris’ cybersecurity audit of Danieli’s systems will be followed by a further deployment of Naoris’ solution across the metal suppliers key data infrastructures.

Alexander Stewart, Executive Vice President ICT at Danieli, commented:

“At Danieli, we pride ourselves on the quality of our materials, processes and people, which enables us to continue delivering a world-leading service. Cybersecurity is a major part of this and we are currently investing significantly into ongoing company-wide security operations to make our company safer. We believe that Naoris’ blockchain-based solution will benefit our strategy and give us the edge in safeguarding our networks and providing unrivalled security for our clients, customers and personnel.”

David Carvalho, founder and CEO of Naoris, added:

“Multi-national companies such as Danieli hold large amounts of records and sensitive data. With the sheer amount of devices on its networks and with the threat of hacking on the rise, traditional methods of cybersecurity need to evolve. Naoris SE is cryptographically agnostic to operating systems and proves subversive actions beyond doubt, creating immutable consensus on the source, timestamp and location of threats. We are pleased to support Danieli through this process. Securing this partnership is testament to the strength of our offering and we look forward in continuing to grow our relationship with Danieli.”

In addition, Naoris recently announced that it launched in the Middle East through its partnership with IT solutions company PROW as well as signing Hong Kong based decentralised data storage business DeNet to its expanding client base.