4. Benefits of Cryptography

Using Encryption Technology for Data Protection Could Increase Trust

Even when not required to encrypt data due to privacy regulations, some companies choose to do so to show their clients they take privacy seriously. Making that assertion is particularly important due to the eroding trust many people have in the internet.

According to the 2019 CIGI-Ipsos Global Survey on Internet Security and Trust, 53% of respondents said they were more concerned about online privacy now than a year ago. The same survey indicated that nearly half of those polled (49%) said that their distrust of the internet made them disclose less personal information online. Surprisingly, only 19% of people surveyed said they used more encryption to increase safety.

Those findings open an opportunity for companies to bolster consumer trust by explicitly stating how they encrypt customer data. Although end-users need to take responsibility as well, enterprises can solidify their reputations by emphasizing a commitment to incorporating the latest encryption technologies into their operations.

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