Equifax had a huge data and security breach, CanYa will learn these lessons and ensure they never happen again

What did we learn from Equifax’s security breach?

What happened with Equifax?

In March this year a security vulnerability in Apache (web server software) was patched and released to the Apache community. Any CSO or CIO worth their salt would have picked up on it, realised the impact of the vulnerability and implemented early fixesIn May this year hackers obtained access by exploiting this unpatched bug and siphoned off as much as they could, which would have been fairly easy.

In July this year Equifax realised that they had been compromised. It took them two months to work out how to tell their 143 million users. The security patch itself probably didn’t take that long.

Equifax had a major security breach that compromised that private data of 143 million users. CanYa will not let this happen, find out how
Photo Credit: thehackernews.com

143 million Americans had their data exposed and sold on. The effects of this will be felt over the next decades in credit card fraud, identity theft and phishing scams.

How do we avoid this happening again?

A security breach like this is a huge deal! Apart from all of the obvious shortcomings like the fumbled damage control campaign, the real issue lies in how the user-data was left to be so vulnerable.

Big companies can have all the security policies they want, but there’s usually still a way in, and someone willing to find that way in. Which is why user-data storage needs to be encrypted, it needs to be stored in a decentralised manner, and users need to retain ultimate ownership of the data at all times.

Locked padlock on a smartphone app is representative of CanYa's security with data

This sounds out-of-reach; but that is not the case. Enter blockchain and cryptography; important pieces of the puzzle that will allow us to solve the problem. User-data can be anonymised properly, it can be stored in a decentralised manner with no single point of failure, and users retain ultimate control of that data.

Here at CanYa, we believe in a decentralised future, where no single entity can make mistakes and expose half of America’s data overnight. So we’re partnering with other companies who have similar visions and willing to spend the time and effort to get this right.

CanYa is a functioning local and digital services platform that will soon have a cryptocurrency layer over the top; CanYaCoin


We’re excited to announce our partnership with MADANA – a marketplace of data analytics. MADANA will allow users to retain control of their data at all times, and even choose to monetise it if they want. We’ll have more information about our partnership with MADANA soon.
CanYaCoin and Madana are partnering up to ensure that all of your data is secure and decentralised. There is no reason another Equifax should occur again!
It’s time to handle data properly, and more importantly, it’s time to give users back ultimate control of their data; more on this to come.

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CanYa is a decentralised marketplace that helps everyday people outsource local and digital services. Through CanYaCoin we are helping mainstream adoption of cryptocurrency by bridging the gap between the cryptocommunity and skilled service providers.

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