Leonovus Inc. (TSXV: LTV) (the “Company”), a developer of ultra-secure enterprise-grade distributed storage technologies, is pleased to announce significant enhancements to its Leonovus 3.0 product via the integration of blockchain technology – with product availability in the next several weeks. The Company is also pleased to announce the development of new product offerings through the combination of the Company’s WISE network and blockchain technology to create a suite of products with significant market applications.
The Company’s core technologies offer scalable distributed data storage with improved security, governance, and compliance while reducing costs, risk and providing additional defense against cybersecurity threats. The utilization of blockchain technology further enhances its effectiveness. Leonovus was an early adopter of blockchain technologies. In 2014 the Company produced and deployed a managed, loosely-coupled blockchain computation pool built from available idle resources. The system managed both public and private blockchain computation on thousands of low/no-cost computing cores across both the USA and Canada with only a few clicks of a mouse from a browser-based dashboard. Leonovus was also one of the first companies to marry the technologies of the Internet of Things (IoT) and the blockchain, when in August 2014, the Company leveraged its proprietary distributed computing technology to mine digital currency from low-end distributed devices, in that instance, digital light bulbs.
Leonovus 3.0 as enhanced through blockchain technology introduces mechanisms that impose, maintain and monitor different levels of data security through obfuscation, encryption, deconstruction, and geo-distribution of the data, based on the data stored and the corporate governance and regulatory compliance required to protect it. The Company provides tools that ensure IT controls extend from on-premises out to hybrid, multi-cloud storage architectures with full compliance monitoring/reporting in support of data governance policies that are paramount to any IT system. Finally, Leonovus 3.0 provides significant ROI and simplicity because the software is hardware and software agnostic and can run on commodity technologies.
“The introduction of blockchain technology to our solutions enhances our mission to protect and preserve corporate information. Moreover, the combination of our WISE network and the blockchain provides a platform to expand our product offerings to an even larger market. We expect several additional new product announcements by the end of 2017,” said Michael Gaffney, Leonovus Chairman & CEO.
Recent high-profile security breaches have resulted in the theft of personally identifiable data for millions of individuals, highlighting the reality that breaches are inevitable. The Leonovus products offer additional protection in the instance of a cybersecurity breach. This second line of defense is enabled through de-coupling the data from the underlying IT infrastructure and using the Company’s WISE network and blockchain technology to protect the underlying meta-data.
“Leonovus 3.0 was architected with the assumption that all primary physical and virtual security systems are vulnerable and that breaches are inevitable. Companies need physical and virtual security systems as the first line of defense. However, if hackers get in, the corporation also needs a powerful second line of defense. The Leonovus second line of defense ensures that the data isn’t usable by the hackers. The software is immediately available for deployments, and we expect sales to begin in Q4 2017”, said Gaffney.
Given the new data security realities, and the introduction of legislative measures such as the General Data Protection Regulation (GDPR) in the EU and similar measures in other jurisdictions, which can lead to significant fines for personal data loss, the corporate IT department’s mandate to improve services and reduce costs is at the forefront of corporate responsibilities. The Leonovus 3.0 enhanced with blockchain technology directly addresses these issues by offering increased protection from data breaches by an order of magnitude and protect companies as they strive to meet new regulatory environments for data security and privacy such as GDPR.
Further to the product developments as outlined above, Leonovus expects to announce new blockchain technology partnerships and launch several new products to the market over the next two quarters.
Our mission is simple; to have our customers trust us with their most sensitive and private data.