Personal data can be shared without breaching the privacy wall Premium

Posidex Technologies unveils Privacy Enhancing Technology for secure data sharing among organizations, revolutionizing data collaboration and privacy protection.

Any transaction, online or offline, involves sharing of personal data like name, date of birth and other details. Despite fears of privacy breach, there is little anyone can do, but hope the information is not misused, since it has become mandatory to disclose such information many times.

While the Data Protection Bill is still in the making, a city-based software firm has unveiled a unique software algorithm where personal data can be ‘shared’ between organisations without breaching the privacy wall.

Posidex Technologies, a deeptech AI/ML product company, has come out with a Privacy Enhancing Technology (PET) promising a paradigm shift on how different entities like financial institutions or government departments can ‘collaborate’ on data meeting, data privacy and localisation norms.

The firm co-founded by classmates - Bhavani Shanker Chittor, K. Venkat Reddy, G. Venugopal Rao, alumni of CBIT, KITS, NIT Warangal, respectively, in 2003, has launched a new algorithm that converts plain text data into “Vectorised, Anonymised, Randomised, Encrypted Tokens” or VARE Tokens, on which an AI/ML model is built adding ‘intelligence’ that allows data comparison.

There are solutions like Zero Knowledge Proof (ZKP), Homomorphic Encryption (HE), Secure Multi Party Computation (SMPC), and Differential Privacy, all part of emerging cryptography based PETs, allowing analytics and insights on transformed personal data tokens, said Managing Director G.T. Venkateshwar Rao.

In traditional ‘encrypted token matching’, used in storing of passwords, even if a single letter – capital/small or digit is wrongly entered, the request is rejected as there is no ‘intelligence’ in the tokens to compare. With Posidex tech, a new method of adding ‘intelligence’ to tokens for all data elements, including name and birth date, can be done, he said.

Here customer data is converted to intelligent ‘VARE’ tokens, amenable for probabilistic search with fuzzy logic on all customer data elements, said Mr. Rao, a former IRS officer (1990 batch), recipient of PM’s award for excellence in public administration. He had also worked as MeeSeva Commissioner with Telangana Government (2015 to 2022).