Verai Systems, LLC



Solving Trillion Dollar Problems

Affecting The Digital World

ABOUT
Verai is a technology development and licensing company.

We build solutions for Trillion Dollar Problems that lack reliable answers today. 

CYBERCRIME

  • Annual impacts are becoming the equivalent of a major global economy. 
  • Sophisticated and motivated cybercriminals likely can’t be kept out of digital systems, whatever we do. 
  • Billions of dollars are being spent every year on cybersecurity, but cybercrime just keeps on growing

DATA GROWTH AND ITS COST

  • Global enterprises, organizations, and governments are generating vastly more data every year.
  • Most of this data is discarded. Maybe it has no continuing value. But maybe it does - or would - if we could store it long enough to figure that out. 
  • It is expensive to store data, especially in a place that many people within a large organization can access, such as the cloud.
  • We need cheaper solutions for digital storage anyway, since the data we need to keep will not stop growing.

DATA SECURITY

  • Businesses increasingly recognize that data is one of the most valuable resources in the 21st century, but we haven’t yet figured out how to protect it completely and still make it usable. 
  • Data often sits within digital environments, seemingly waiting for system defenses to be penetrated and the data stolen – to be exposed or misused. 
  • Because most data is not even protected with simple encryption, it’s easy pickings for cybercriminals - leading to reputational damage, fines and lawsuits, and countless headaches for anyone whose data is compromised.

Verai isn’t claiming that it can make all of the problems go away overnight. But we have realized that these Trillion Dollar Problems are related. 

We have come up with one Big Idea that will contribute to the process of solving all of them.


THE BIG IDEA
We realized that the Trillion Dollar Problems all add up to a fundamental problem of data insecurity - it is just too easy to obtain someone’s confidential data and use it without authority.
This data insecurity impacts business computing more than most people might think, including how and where we store data and how much of it we can reasonably afford to retain.
Our Big Idea is that data must become the source of its own primary security.

Inherently secure data would not be placed at risk if defenses are breached during an inevitable cyber attack. 

Less effort (and expense) would be needed to secure the places in which the data resides or the conduits through which it passes. 

If data is intercepted or exfiltrated, it would be of no use to the unauthorized party into whose hands it falls. 

A process that could accomplish this would need to be unobtrusive – not interfering with workflows and not injecting latency into the computing environment. 

We have developed such an approach - at enterprise scale - that not only provides the strength of multiple encryption (and some clever secret sauce) but that does it in the background, with low latency, so that no one knows it’s there. 

Except the data, which can finally breathe a big sigh of relief. 

It’s like turning gold bars into bricks, which are no longer of interest or value to an unauthorized party. 

As it turns out, this innovation can change many things that will otherwise hold back progress in the digital domain.

To this point, we have originated three interlocking technologies, with associated patented methodologies, which are being developed into security tools. 

We think of them as security utilities, whose purpose is integration into application software, either as individual security elements or in combination. 

The tools are enabling technologies, concerned with the protection of data (Doubleknot®), the assurance and control of human identity and authority in the digital domain (Bio Lock & Key®), and the secure transmission and privacy of information exchanged between two parties (vExchange®). 

Doubleknot is our foundational technology, because Bio Lock & Key and vExchange each depends on the Doubleknot process of data protection in order to accomplish its objectives. 

We expect that the use of our tools will be driven by software developers looking to upgrade the security of data handling in enterprise-scale applications. 

The potential areas of use are extensive – all software applications generate and use data and its protection is always a significant area of concern, especially in large-scale, multi-locational enterprise settings. 

We have already invested considerable development effort in one notable use case for Doubleknot, which we have named VeraiVault®.


Doubleknot

Doubleknot is a proprietary method of rendering data anonymous, indecipherable, and unusable by anyone except an authorized user - in use, at rest, or in transmission. Doubleknot uses standard cryptographic and data management tools in a unique, proprietary form. It employs Zero-Knowledge and Zero-Trust data security principles to two layers of symmetrical encryption using AES256 (together meeting the NSA’s Type II encryption standard), combined with object storage for enterprise-level scalability. No single party holds the two encryption/decryption keys. Doubleknot protected data is incapable of brute force attack within the expected useful life of any protected data. Not even a future quantum computer would be capable of decryption of Doubleknot objects due to the proprietary structure of the Doubleknots. A Doubleknot object is simply an undecipherable string of data garbage in the hands of anyone (including Verai) except its rightful owner. Storing data in Doubleknot form will substantially mitigate many of the financial and reputational risks of holding data to which organizations are exposed today.

Bio Lock & Key

Bio Lock & Key is a novel approach to meeting the exacting demands of biometric security systems, while providing absolute protection of biometric reference data. The use of biometric identification is an important innovation in both physical and digital identity and access security systems and protocols. Existing implementations of biometric security approaches leave the enormously sensitive biometric reference data vulnerable to theft and compromise. If the theft of a social security number can create problems for identity theft, the misuse of biometric data can be orders of magnitude more serious. Imagine the future use of retinal scans or even DNA sequences to create synthetic digital identities that then commit fraud. Then imagine how difficult it would be for a victim to explain and fix the mess. The use of biometric data for identification purposes is being held back by its considerable potential threats to privacy. Verai will use Doubleknot, together with proprietary biometric data matching algorithms, to deliver a truly secure biometric engine where no unprotected biometric data is ever unmasked or exposed in a form that could be reused.

vExchange

vExchange is a technology solution that combines data protection, identity and authority verification, with proprietary ultra-secure low-latency data transmission protocol to provide a point-to-point connection across the internet, mobile, satellite, and cloud networks that will be exceptionally resistant to interception. vExchange will have many potential applications in the financial domain, both traditional and decentralized, and for party-to-party secure messaging.

VeraiVault is a data storage application of Doubleknot technology that will meet the needs of data users for ongoing additional capacity, available quickly, at a price that easily justifies retaining greater volumes of data than might otherwise be feasible. 

The impregnability of Doubleknot objects makes them intrinsically secure, which changes the storage paradigm. 

Instead of needing layers of active security, consuming large amounts of electricity in purpose-built hardened data centers, data in Doubleknot form can be stored almost anywhere. 

Verai has developed a concept for a distributed, multi-location storage solution that mimics the cloud in its ease of enterprise data accessibility, but which is notably more secure, can expand quickly and easily, demands only a fraction of the capital investment and overhead costs, and dramatically lowers the price of data storage. 

Cloud computing centers are great for best in class computing performance, but they’re very expensive, complex, and slow to build. 

They also demand vast resources for cooling (water) and power (electricity), and aren’t the ideal solution for the storage of data, except for real time processing applications. 

For many uses of data, the advantages of cloud are minimal, and the disadvantages – insecurity and cost – highly significant. 

VeraiVault provides the same convenient “whole enterprise” storage and access to data as the cloud, but with stronger data security, unburdened by cloud’s capital and overhead base, can operate as a parallel resource to computer processing in the cloud. 

At this stage our work, the precise approach to developing our distributed storage network and the partners with whom we are negotiating must remain confidential. 

Richard Przonek

Co Founder - CEO

Rich is an entrepreneur and senior business professional with three decades’ experience in building companies from start-up, through scaling and managed growth, to liquidity event. A former Wall St executive, Rich has served as CEO and COO of various private companies at critical stages. He was founder of a successful medical technology group which he sold to a NYSE healthcare company. His consulting and advisory work has focused on operational effectiveness and performance improvement.

Lance Reich

Co - Founder - CTA

Lance is a technologist with a deep background in computer science, software engineering (focusing on coding and cryptography), and mathematics. As a practicing intellectual property attorney associated with advanced technological development by research-oriented institutions in partnership with the private sector, Lance has gained a unique perspective of many fields of current focus, particularly in software and security applications. This insight has enabled Lance to conceive innovative solutions to longstanding technological challenges.

Peter Shoobridge

Strategy, Finance & Planning

Peter specializes in the successful navigation of critical stages in the corporate lifecycle – start-up, growth, liquidity events, mergers and acquisitions, and reorganization. He has served as CFO and head of strategy for public and private companies, with substantial global experience. Peter is a Fellow of the Institute of Chartered Accountants in England and Wales.

Carl Hartman

Business Development Strategy

Carl is a successful software business development, marketing and sales executive with 35+ year track record of generating revenue, driving customer and partnership growth and ensuring customer and partner satisfaction. Carl served as Vice President for Computer Associates (CA) over a 17-year career. For the last 15+ years, Carl has focused on Web security solutions.

Dr. John Chandy, PhD

Lead Technical Advisor

Professor Chandy is Head of the Department of Electrical and Computer Engineering at the University of Connecticut, and leads its Storage and Network Systems Laboratory (SNSL). SNSL is a research laboratory which engages in a wide range of experimental and theoretical systems research in distributed file systems, object-based storage systems, fault-tolerant systems, active storage networks, VLSI designs, FPGA architectures, hardware security, and cybersecurity education.

David Liff

Lead Industry Advisor

David is a technology marketing and sales leader, with specific expertise in the fields of data management, storage, and network security. For more than a decade, David was a senior marketing executive with Computer Associates, holding responsibility for global marketing campaigns across multiple product lines, and working directly with the C-level executives of most of the Fortune 500. More recently, he was co-founder of a full-service b-to-b marketing agency leveraging the unique experience of the co-founders in driving high performance marketing and demand generation.

NetWeb Software, Inc.

Lead Engineers

For over 20 years, NetWeb has provided enterprise class business software solutions, professional services, and innovative products to customers around the globe, including fortune 500 enterprises and large technology giants. Its forte is a unique blend of strong product development and IT service capabilities that enables NetWeb to provide the highest levels of reliability, quality, and innovation.