Everything Blockchain Files Patent for EBI Blockchain Drive
July 06 2022 - 8:50AM
Business Wire
Company to provide innovative ransomware
solution that fills a vital need in the security market
Everything Blockchain Inc., (OTCMKTS: OBTX), a technology
company that enables real-world use of blockchain to solve critical
business issues, today announced that it filed a patent application
for EBI Blockchain Drive (EB Drive). EB Drive, among the first
blockchain-enabled ransomware solutions, will empower enterprises
to protect themselves against 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 past five years combined.
Cybersecurity Ventures predicts ransomware will cost its victims
around $265 billion (USD) annually by 2031, with a new attack (on a
consumer or business) every two seconds. The threat of ransomware
impacts every industry, 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, however
there is no guarantee that an attacker will ever decrypt the data,
leaving organizations who lack a backup and recovery strategy at a
serious disadvantage. EB Drive ensures that data is consistently
backed up in an immutable blockchain ledger that will protect a
company’s intellectual property in the event of a ransomware
attack.
“EB Drive’s innovative and novel use of blockchain’s inherent
immutability ensures that locally stored data is impervious to
ransomware attacks from bad actors,” said Cedric Harris, Chief
Research Officer, EBI. “With EB Drive we are bringing a winning
ransomware solution to market that enables all businesses,
regardless of industry, to protect their data.”
“The advancement of blockchain technology into tangible assets
is the natural evolution of the industry, and a confirmation of our
business philosophy: blockchain for everyone and everything,” said
Eric Jaffe, Chief Executive Officer, 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 goals, support cities of the future, build and control the
transparency of supply chains and ensure the rights of data
ownership sustain forever. The company’s patent-pending advances in
blockchain engineering deliver the essential elements needed for
real-world 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” which
are not purely historical and may include any statements regarding
beliefs, plans, expectations or intentions regarding the future.
Such forward-looking statements include, among other things, the
development, costs and results of new business opportunities and
words such as “anticipate”, “seek”, intend”, “believe”, “estimate”,
“expect”, “project”, “plan” or similar phrases may be deemed
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Actual results could
differ from those projected in any forward-looking statements due
to numerous factors. Such factors include, among others, the
inherent uncertainties associated with new projects, the future
U.S. and global economies, the impact of competition, and the
Company’s reliance on existing regulations regarding the use and
development of blockchain and zero trust- based products. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that any beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate.
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Media Contact Kate Shapiro LaunchTech Communications
kate@golaunchtech.com 410-698-5211 Investor Relations
Contact: RedChip Companies Inc. Dave Gentry Tel: 1-800-RED-CHIP
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