The Texas-based ALTR announced on Wednesday that it has released the first commercial software package that “unleashes the security benefits of blockchain.”
According to ALTR, its platform is built on the “ALTRchain,” the only high-performance, enterprise-grade blockchain technology for ultra-secure data access and storage.
“Virtually impenetrable to attack, the ALTR platform is a data-security solution for organizations to monitor, access and store critical information,” ALTR stated. “Moving beyond failed and outmoded perimeter systems, ALTR’s approach signals a fundamental new paradigm in cybersecurity.”
ALTR explained that its solution creates a blockchain-stored record of any attempt to impact data or network resources. This permanent, unalterable evidence serves as a disincentive for offenders, the company stated.
ALTR added that its platform is simple to deploy and easy for both technical and non-technical business stakeholders to use, providing them with an intrinsic view and control over the inner data-environment of an organization including how sensitive data assets are used or seen and by whom.
ALTR also announced that it has raised USD 15 million in funding from institutional and private sources in the cybersecurity, information technology, and financialservices industries, including Ronin Capital CEO John Stafford III.
ALTR is led by CEO David Sikora, a software industry veteran and former executive chairman at Stratfor, developer of the world’s leading geopolitical intelligence platform. Sikora is noted for executing the first internet software IPO in Texas with The ForeFront Group, and previously served in key leadership roles at Digby, Motive and Pervasive Software.
“We have a choice between change or breach,” said Sikora. “Network-focused security isn’t enough because it never really puts a dent in the sheer number of vulnerabilities. Rather than patching the existing attack surface, ALTR has found a way to significantly reduce it. In fact, with ALTR’s full solution in place, the threat vectors for data move to nearly zero. Digital trust can finally be restored.”
