Electronics Era: Explain Futurex as a company, its journey and achievements?
Ruchin Kumar: Futurex has been in the data security industry for over 40 years. The company started out supplying cryptographic solutions to the payment industry, and in the decades since has broadened its reach to every market vertical and geographic region around the world. We provide hardware security modules (HSMs), key management solutions, and cloud cryptography services to organizations of all sizes and industries.
Our company’s abiding philosophy is innovation: we create the ideal solutions we would want to use. Futurex was the first organization to pioneer the all-in-one key management server and key injection HSMs. Likewise, our HSM virtualization solution was the first one on the market. Futurex solutions can be deployed on-premises, in the cloud, and as hybrid configurations to meet the needs of any organization or enterprise.
Electronics Era: How does cloud computing work for the electric power grid?
Ruchin Kumar: Utilities and smart grid providers use cloud cryptography in many of the same ways as other industries. Cloud cryptography uses remote servers to store and manage data, run applications, and deliver services over the internet. Utilities providers can access cryptographic resources on-demand, giving them scalability and flexibility. By utilizing the cloud, electric power grids can enhance efficiency, refine their data analytics, and streamline cryptographic operations.
uturex’s hardware-based cryptography solutions play a crucial role in securing the communication channels and data stored in the cloud, ensuring that sensitive information remains protected from unauthorized access.
Electronics Era: Due to the increasing digitization and interconnectedness Cyber security is a major problem for utilities and Smart Grid? As a leading player in Data Encryption Solutions what are the solutions you provide to your clients to overcome these disruptions?
Ruchin Kumar: One trend doesn’t seem to change: cyberattacks grow more frequent and more costly every year. In the face of escalating cybersecurity threats, we provide hardware-based cryptography solutions to protect critical infrastructure. We manufacture HSMs that protect cryptographic keys and ensure the integrity of encryption functions. Our solutions enable end-to-end encryption, secure key management, and tamper-resistant hardware, providing a strong defence against cyberattacks. By implementing our encryption solutions, utilities providers can mitigate security risks, maintain data integrity, and most importantly uphold the trust of their stakeholders.
Electronics Era: How are HSMs for Energy Utilities reliable for Cyber-attacks?
Ruchin Kumar: HSMs are the backbone of cybersecurity for energy utilities. HSMs provide a dedicated and secure environment for cryptographic operations, key management, and key storage. By storing encryption keys in tamper-resistant hardware, HSMs prevent unauthorized access and protect against various cyber threats, including key compromise and data breaches. They also help organizations comply with regulatory frameworks like PCI or GDPR. The reliability of HSMs comes from their ability to enforce stringent access controls and withstand physical intrusion attempts. As a result, energy utilities can have confidence in the resilience of their cybersecurity infrastructure.
Electronics Era: In the context of India, how Government regulations is possibly the most influential factor for cyber security implementation in a smart grid and what other reforms you are expecting in comparison to other countries?
Ruchin Kumar: Government regulations play a crucial role in shaping cybersecurity practices. In India, we anticipate a continued emphasis on regulatory frameworks that mandate strong cybersecurity measures for critical infrastructure, including the smart grid. As a responsible player in the industry, we actively engage with regulatory bodies to ensure our solutions align with evolving standards and compliance requirements.
Electronics Era: What is the way forward for Smart Grids?
Ruchin Kumar: From our viewpoint as cryptography providers, we’ve found one thing to be consistently true: the more encryption, the better. As Smart Grids become more interconnected, the need for robust cybersecurity will intensify. Solutions like hardware-based cryptography will play a crucial role in fortifying the grid against cyber threats.
Adherence to evolving government regulations and international standards will always be a top priority. Our commitment to staying ahead of compliance requirements ensures that our clients are well-prepared for the changing regulatory landscape.
In summary, the way forward for Smart Grids involves a strategic blend of cutting-edge technology, heightened cybersecurity measures, and a proactive approach to regulatory compliance. Our role is to provide the encryption solutions that underpin the security and reliability of these advancements in the energy sector.
Electronics Era: What are the future plans of Futurex for the Indian Market?
Ruchin Kumar: Futurex is firmly committed to the Indian market. As a payment processing hub and global fintech capital, there is a great demand for robust data security solutions. In addition to partnering with key IT distributors and consultants, we’ve established data centers in Hyderabad and Mumbai. Having a local data center presence allows us to offer low latency, high availability, and effortless data localization compliance to customers throughout the Indian market. That’s just the beginning, however—we eagerly anticipate what the future holds as the market continues to advance.