Encryptium looks to solve the problem of large-scale data breaches that compromise login details; we do this by decentralizing the data.
Are you employed by T-Mobile or related to an employee of T-Mobile?
Eligibility: Date of Birth
March 19th 2000
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1215 30th St.
Goodwin-Kirk Residence Hall
Iowa: Des Moines (50311)
Date You Started Your Project Started
October / 11 / 2018
Project Stage: Select the description below that best applies to your approach.
Start-Up (first few activities have happened)
1. The Problem: What problem are you helping to solve?
Data breaches happen often and cost businesses billions of dollars a year. When access management data is lost in these data breaches, users can lose all the data they have on their accounts which can lead to monetary loss and even identity fraud. This problem exists because companies keep their user's login information on centralized servers making it easy for lots of data to be compromised when a data breach happens.
2. Your Solution: How are you planning to solve this problem? Share your specific approach.
We have invented a patent pending method of verifying data without any entity holding the full piece of data. This means that if a server is ever breached, no data is lost. The first step in our process involves a website implementing our API into their login interface. When the website uses our API, user's login attempts are sent through our network where it is verified rather than it going to the website. Inside our network, a large number of nodes must work together to verify if the information sent to them is correct or not; no single node possesses all the information and the company stores none of it. With this system, users don't have to place their trust into the websites they're logging into or Encryptium since we do not hold the entirety of the data either. Our goal with Encryptium is to put data back into the hands of the people.
3. Personal Journey: What’s the story behind why you decided to start this project?
When I was younger, one of my family members had their identity stolen online. The identity fraud effected them financially and added a lot more stress to their lives. I couldn't imagine how a family or person worse off than them could of handled such a setback. Looking at the numbers shows that more and more people are becoming victims to such cyber crimes. This kind of trend has not only effected individuals, but also corporations and startups alike. It seems like a month doesn't go by where there isn't some sort of data breach that costs time, money, and the loss of personal information.
During my freshman year of college at Drake University last year, I met my current business partner. He had a similar story to mine and we wanted to see if we could make a change. This is how Encryptium officially started, and we've been working on the solution ever since.
5. Example: Please walk us through a specific example of what happens when a person or group gets involved with your project.
Once our software is in use, we hope no one will notice a difference in their day-to-day life. We are looking to stop headaches caused by data breaches that can affect a person financially and save them the time it takes to recover from one.
6. The X Factor: What is different about your project compared to other programs or solutions already out there?
Companies invest millions of dollars into their own cyber security solutions. The problem is that they almost always use a centralized approach to the problem. We have found out decentralization will work much better when it comes to certain data sets (such as login details). We see a future where decentralization solutions become the norm at protecting certain data.
7. Impact: How has your project made a difference so far?
Building Encryptium from an idea into what it is today has been a challenging, yet rewarding experience. We have found out that creating a startup comes with meeting a lot of people. Lucky for us, entrepreneurs tend to be great people with great stories. This past summer, we were part of a startup incubator. We managed to make many connections around our area of Des Moines, Iowa, and we discovered how inclusive and accepting the entrepreneurial community is. Our hope is that we will continue to meet amazing people as we grow. We are also eager to make a difference for our customers once we have a marketable product.
8. What’s Next: What are your ideas for taking your project to the next level?
The next step for Encryptium is to file for a non provisional patent. We feel it is important to protect our IP and make sure we have licensing rights for our technology process. We are also in the process of switching from an LLC to a C-Corporation to make acquiring investors and handing out stock easier. Another goal on our road map is to finish our website and publish our whitepaper on it. These are concrete goals that we are currently working towards.
9. Which of the following types of expertise would be most useful for you?
10. Finances: If applicable, have you mobilized any of the following resources so far?
Donations between $100-$1k
Help Us Support Diversity! Part 1 [optional] Which of the following categories do you identify with?
White (for example: German, Irish, English, Italian, Polish, French) (6)
Help Us Support Diversity! Part 2 [optional] Do you identify as part of any of the following underrepresented communities?
Religious minority (non-Christian)
How did you hear about this challenge?
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