MOI BIT, a cutting-edge protocol and infrastructure that empowers businesses and products to implement tailor-made data privacy and security measures in hybrid cloud environments, has been selected for the National CoE 12th Incubation round at the Data Security Council of India (DSCI) for its innovative, secure and regulatory compliant data management solution.
MOIBIT is built on the world’s first context-aware Blockchain MOI, and it empowers users to fully control their data by providing privacy, security, and compliance features.
Centralised data management has inherent problems for businesses that deal with sensitive data. One of the primary issues is security risks. Centralised systems are vulnerable to cyber-attacks, data breaches, and unauthorised access, which can result in data loss, theft, or manipulation. According to a survey conducted by International Data Corporation, 85% of companies with a cloud footprint of more than $50 million had experienced situations where their sensitive data had been exposed in the cloud.
Another problem with centralised data management is the lack of privacy. Centralised systems often collect and store large amounts of personal data, which can invade users’ privacy. They also require users to trust the central authority to handle their data appropriately, which can be difficult to ensure.
Decentralised data management addresses these issues by distributing data across a network of nodes, eliminating a single point of control, and reducing the risk of cyber-attacks and data breaches. It provides increased security, privacy, and control over data, while also eliminating intermediaries, reducing transaction costs, and increasing efficiency. Decentralised data management is becoming increasingly popular, and more organisations are adopting it to store and manage sensitive data.
MOI BIT is a new-age decentralised infrastructure determined to upscale cloud environments that equip its users with complete ownership, end-to-end control of their digital information, and a secure compliant storage environment. Using advanced cryptography and blockchain technology, MOI BIT supports adaptive management of data availability, security, location transparency, compliance, and suitability for specific business needs at a granular level. With its association with the DSCI, MOI BIT will enhance its accessibility, scalability, and longevity, holistically elevating the decentralised data sector in the process.
“MOI BIT is designed to become the epitome of personalised user experience and data storage and one of the leading regulatory compliant web3 solutions. Our selection to the prestigious National CoE 12th Incubation is a testament to the hard work and dedication of our team. We are honored to be part of a community of innovative startups working to drive progress in the field of data security and privacy. As an organisation at the forefront of data protection and privacy, we are excited to collaborate with the DSCI and our fellow cohort members to gain valuable insights and mentorship, and access the resources we need to take our business to the next level.” Anantha Krishnan, Founder, MOI mentioned.
“Today’s cloud computing structures are vulnerable and decentralisation allows a layer of security and privacy. As part of our MOI ecosystem, MOI BIT is personalised, context-aware with a high level of privacy and security. Apart from that, it enables zero knowledge interaction and has decentralised backups along with shared networks to allow private networks and quick access. With its participation in the National CoE cybersecurity incubation program with DSCI, we will be able to significantly upgrade our enterprise-grade solution to ensure a safe, secure, and reasonable storage alternative within the next few months. We further aim to scale MOI BIT to other firms and propel the innovative future of cloud services.” he added.
The National CoE Cybersecurity Startup Incubation program is a national-level initiative focused on providing a platform for enterprise-level Indian cybersecurity and data-centric solutions. The program aims to further foster secure and innovative solutions in diverse domains and enable the systematic augmentation of robust cybersecurity solutions in India.
MOI BIT is part of the MOI ecosystem. MOI is a context-aware blockchain and web3 ecosystem powered by its native Interaction State Machine technology. MOI is based on a unique interaction-centric computing model, multi-dimensional data structure, and participant-centric consensus. This makes blockchain networks multi-purpose in a native way allowing for the creation of simple, secure, scalable, and sustainable web3 networks.