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i2Chain Secures Information Transactions just as Seamlessly as VISA Secures Financial Transactions
Interview conducted by:
Lynn Fosse, Senior Editor
Published – September 21, 2020
CEOCFO: Mr. Jotwani, what is the idea behind i2Chain, Inc?
Mr. Jotwani: The basic idea behind i2Chain is to be able to protect information artifacts everywhere. If you look at the traditional cybersecurity providers, most of them secure technology silos, like IBM secures data center; Cisco secures networks, Oracle secures databases, Tanium secures endpoints. Who is really securing the information when the real breach happens? We are securing information in a way that the information artifacts remain secure throughout their lifecycle.
CEOCFO: How are you accomplishing this?
Mr. Jotwani: We are a deep engineering startup at the confluence of cybersecurity, immutable ledgers, and heuristics. Our ‘how’ is split into two factors. One is that from an engineering perspective, we superglue cryptography to an information artifact in a way that security travels with that information artifact throughout its lifecycle. The second part is from a standpoint of usability, which is equally and perhaps more important -
Looking at these two big factors, we broke up this challenge in three vectors. The first is encryption-
CEOCFO: How does this compare with what is normally thought of as Blockchain or is this just a more intense version?
Mr. Jotwani: That is a great question. We use the subset features of Blockchain, like the immutable ledger, to capture forensics, and perhaps are one of the very rare companies that enable our enterprise customers to track how content is used and stored across storages, networks and applications in zero-
The second aspect is from a standpoint of security itself. We are zero-
CEOCFO: Where are you today in the development process?
Mr. Jotwani: Very recently, we launched what is called a ‘Select’ release. It is somewhere in between a prototype and a general release. It can also be called a Beta release. At this point in time, we are piloting the select release with some of the largest enterprises in financial, healthcare, and aerospace. It is very interesting to know that one of our customers compared us to something like Visa, wherefrom their lens, Visa secures financial transactions, and just as seamlessly i2Chain secures information transactions and information sharing. We work in the background, automated, and are delighted to be working with some of the largest brands in the financial and healthcare industries.
CEOCFO: When you are able to talk with a knowledgeable person at a company, do they understand? Is it intuitive? Do people know enough about it to recognize what you do? Is there an “aha moment” when you are talking with someone? How does that breakthrough come through to your potential customer?
Mr. Jotwani: Our customers are challenged to deliver dual goals of security as well as privacy. For example, social media lacks privacy, and hence lacks trust; that is why you will never share your material information on social media. It is highly secure though. You cannot break into Facebook; you cannot break into Tik Tok. Tik Tok is highly secure, and hence performing, but they are not privacy focused. They do not have privacy fundamentals. They share your information with whoever buys it and for those reasons they lack trust.
At the other spectrum, look at the government that tries to ensure that your privacy is of the utmost importance and you will have no hesitation to share your personal identifiable information with, let us say, someone like the Department of Motor Vehicles. However, the DMV lacks security capabilities and hence relies on physical documentation and manual processes, and therefore while it is trusting, it lacks performance as it lacks the ability to secure a digital process.
Now, the “aha moment” comes in because, in the new normal era, we help enterprises attain their dual goals of security and privacy, which means that enterprises can be both performing as well as become trusted partners for their consumers and ecosystem.
CEOCFO: What have you learned as people are looking at what you have done, perhaps starting to use or evaluate?
Mr. Jotwani: That is a good question. It is something that me and my Co-
Usability is a big, big deal. We participated in one of the global challenges of Citizens Bank, which is one of the top banks in the US. It is a large bank and as a part of their open API project they gave us access to some of their environment and we built what is called a zero-
CEOCFO: We actually came upon i2Chain from your recognition as a TiE50 winner. Would you tell us about that, as well as other recognition you have received?
Mr. Jotwani: Our biggest recognition is from our customers and our employees that share securely their information artifacts in a privacy-
TiE is the largest entrepreneur forum and we are totally honored. Having said that, I do want to say that this recognition is also a culmination of the effort that is put in by the whole team, the engineering, the research, the product management, the go-
I also do want to recognize the two accelerators that we have been part of. Early last year we were part of IIT Startups, IIT is my alma mater. This year we participated with DreamIT and I think we have had a fabulous, fabulous experience with both DreamIT as well as IIT Startups. In fact, one of the DreamIT managing directors Mel Shakir, has not only become a close friend and a mentor, but we are just delighted to have some of the best minds at work to help us to navigate through these times.
CEOCFO: Are you seeking funding, investment or partnerships as you move forward?
Mr. Jotwani: Yes, a checkmark on all of these. We have top five priorities; number one, investment, two, go to market, three, engineering, four, research that is patented and fifth is partnerships. All of them, I do not call them one, two, three, four, five. I call them one, ABCDE, so one A, one B, one C; all of them are really a number one priority.
CEOCFO: “Securing work from home,” is front and center on your site. How are you getting that message across? Is it resonating?
Mr. Jotwani: I often say, “Give us sushi and we will call it cold dead fish.” We are improving our messaging and outreach at this point in time and are hopeful Lynn that some of our messages will be carried through your channel as well. Also, we are just coming out of stealth if you will. This summer we came out of stealth and it is a little bit early, but we are trying to participate in forums. For example, recently I also did give a keynote speech that CISO Exchange, which was very well received and over forty CISOs came and participated, and a few of them are engaged with us in serious conversations.
CEOCFO: Are any companies working on a similar offering or are you so far ahead that people have not really figured out how to do what you are doing?
Mr. Jotwani: Yes, there are a few companies; there are a few very smart startups that are working in this area. There are also many legacy companies as well, McAfee, Symantec, Microsoft, etc.; these are all companies where I have not seen a single successful implementation, if you will, over the last ten + period years, because of how complex their engineering is. Then there are outfits like Vera Security or Ionic security which we keep a tab on, which we try to look to competitively. They are a little bit ahead of us in the go-
CEOCFO: What, if anything, might someone miss when they first look at i2Chain, whether from an investment or a user perspective?
Mr. Jotwani: That is a great question again, Lynn! That is a fabulous question. I think one of the things that they might miss is the importance associated with being on the edge, the far-
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“Now, the “aha moment” comes in because, in the new normal era, we help enterprises attain their dual goals of security and privacy, which means that enterprises can be both performing as well as become trusted partners for their consumers and ecosystem.”