The technology industry continues to be a hotbed of innovation, with activity driven by the need for stronger and more comprehensive cybersecurity measures to protect against cyber threats and attacks, and growing importance of technologies such as cryptography, private and permissioned blockchains, immutable data storage, and penetration testing and vulnerability assessments. These technologies work together to establish a secure and trusted environment for data storage and transactions on the blockchain. By leveraging cryptographic techniques, consensus mechanisms, smart contracts, distributed ledger technology, and robust security practices, blockchain technology provides a solid foundation for ensuring data security and integrity in various applications. In the last three years alone, there have been over 3.6 million patents filed and granted in the technology industry, according to GlobalData’s report on Innovation in Cybersecurity: Data security blockchain. Buy the report here.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
300+ innovations will shape the technology industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the technology industry using innovation intensity models built on over 2.5 million patents, there are 300+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, byzantine fault tolerant blockchain, secure multi-party computing, and decentralised identity framework are disruptive technologies that are in the early stages of application and should be tracked closely. Secure hash algorithms (SHA), zero knowledge proof, and private blockchains are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are, firmware security, multimedia signal encryption, and biometric authentication, which are now well established in the industry.
Innovation S-curve for cybersecurity in the technology industry
Data security blockchain is a key innovation area in cybersecurity
Data security blockchain is a form of distributed ledger technology that offers a secure and unchangeable method for storing and exchanging data. It utilises cryptographic methods to guarantee the integrity and immutability of data stored on the blockchain, establishing a high level of confidence and openness in data sharing. Data security blockchain finds applications in securely storing various types of information, including medical records, financial transactions, identity details, and more, providing a trustworthy and transparent solution for data management.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 180+ companies, spanning technology vendors, established technology companies, and up-and-coming start-ups engaged in the development and application of data security blockchain.
Key players in data security blockchain – a disruptive innovation in the technology industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to data security blockchain
Source: GlobalData Patent Analytics
SoftBank Group is one of the leading patent filers in data security blockchain. The company’s patents are aimed at providing techniques to improve security in blockchain networks. In some implementations, a linking request is received from a node, which needs to be linked to a blockchain network. The linking request includes a digital code.
One or more consensus verification messages are received from one or more blockchain nodes of the blockchain network. Each consensus verification message indicates whether a respective blockchain node approves or denies the linking request. A consensus verification result is determined based on the one or more consensus verification messages. In response to determining that the linking request is approved by the one or more blockchain nodes, the digital code is stored into the blockchain network as a digital certificate of the node.
Other prominent patent filers in the space include nChain and Mastercard.
Data security blockchain significantly enhances data integrity, transparency, privacy, trust, and efficiency in various sectors. It offers solutions to long-standing challenges in data management, fostering a secure and trustworthy environment for data sharing and collaboration.
To further understand how cybersecurity is disrupting the technology industry, access GlobalData’s latest thematic research report on Cybersecurity – Thematic Research.