Scandinavian Business Awards 2022

14 EU BUSINESS NEWS / Scandinavian Business Awards 2022 , Emerging Cyber Security Firm of the Year 2022 & Innovation Award for Blockchain Security Analysis 2022 ‘How useful is a rain jacket if it is only 80%waterproof ?’ this is the mantra that drives Danish Blockchain Lab to provide the best possible blockchain security solutions. As hacking threats rise, the company is on a mission to help its clients to guarantee that their projects are entirely secure. Therefore, its current plans include scaling up in order to provide such clients with long term support. In recent years, cybersecurity threats have skyrocketed. This is, in part, due to the rise in and rapid development of technology. Hacking has become increasingly prevalent, with methods evolving from ‘lone wolves’ to large-scale, organised hacking groups that target prestigious organisations. Indeed, such hacking groups have been known to steal millions of dollars and get away with it. At this current time, blockchain products and companies are at an even greater risk due to blockchain technology being relatively new. According to Policy Advice, hackers broke records in 2021 by stealing $14 billion in cryptocurrency, with many of these attacks being carried out through breaches of exchanges and blockchain wallets. It is, therefore, imperative that businesses and products centred around blockchain take the necessary steps to build an effective digital security framework. Danish Blockchain Lab, headquartered in Copenhagen, is a company that works with businesses to secure, protect, and defend both the companies themselves and their ideas. Danish Blockchain Lab strives to do this by implementing effective security solutions. By working with world-leading security blockchain architects, ethical hackers, and academic researchers within cryptography and economics, the company ensures that it provides the best possible security solutions to its clients. Moreover, Danish Blockchain Lab works closely with its clients in order to create a bespoke system, and it does this by focusing on security holistic. Jun22033 Many vulnerabilities are hidden in the configuration and integrations, therefore Danish Blockchain Lab first has to understand the client's product fully in order to identify any potential weaknesses or threats. From there, the company uses its highly powerful blockchain security analysts to cultivate a solution that will guarantee efficacy. Once this stage is successful, the project progresses into the implementation stage – the most crucial stage – for which Danish Blockchain Lab ensures that its blockchain architects and security experts provide full-time assistance to its clients. Henceforth, behind these operations, Danish Blockchain Lab boasts a team of consultants that have backgrounds in hacking and ethical hacking. These people are the best of the best and possess the rare ability to get into the minds of potential hackers. The team’s dedication is greatly beneficial within such an important industry. Of similar importance is the company’s home at the IT University in Denmark – operating within this setting means that Danish Blockchain Lab has the opportunity to work with internationally esteemed cryptographers. There aren’t many blockchain security analysis businesses within the area, and in turn, this opens doorways to collaboration. This has led Danish Blockchain Lab to work on projects in Finland, Norway, and Sweden. One such example is that of its partnership with FYEO, who it works with in order to provide automated security monitoring such as Domain Intelligence, Crypto wallet-monitoring and even leaked credential monitoring. FYEO is a company that specialises in working with blockchain and Web3 companies, and it maintains a highly regarded Domain Intelligence solution and has a database of over 22 billion leaked credentials from the dark net. Of course, these are elements that make the company unique and enable it to carve a place for itself within the market. The company’s philosophy further contributes to this position. Danish Blockchain Lab believes that the crypto space is a discipline that is not only binary, meaning human creativity can be difficult to defeat by focusing solely on automated security. The company saw a flurry of business during the Covid-19 pandemic. During this turbulent period, cybercrime boomed, and many companies found themselves vulnerable to hackers. In addition, Danish Blockchain Lab leveraged the Covid-19 pandemic to source new talents, as it then able to broaden its talent sourcing market to most of Europe and broaden its client base to the US, South America, and Asia. Going forward, it is planning to scale up its business to provide a greater amount of support to its customers. This evolution is coming with a focus on risk score management on behalf of potential clients. As a consequence, Danish Blockchain Lab will be able to notify its potential clients ahead of time if it obtains any evidence that they have been mentioned on the dark web, on other hacker communities, or if it gets a hunch they may be in line for a potential attack. Contact: Niklas Agerbech Company: Danish Blockchain Lab Web Address: Danish Blockchain Lab