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In cryptography, encryption is the process of converting information or data into a code, especially to prevent unauthorized access. In digital environments, the encryption process takes on more complicated forms and a multi-layered approach for preventing breaches.
As more and more aspects of human activity are digitally mediated, the security and privacy dangers just multiply, as hackers and bad actors have growing incentives to disrupt these processes. This is especially true of the sphere of financial services, where special security measures must be implemented to protect the sensitive information from being exploited by any third parties. The most important of these security measures is encryption.
In technical terms, encryption is the process of converting human-readable plaintext to incomprehensible text, also known as ciphertext. In simpler terms, encryption takes readable data and alters it so that it appears random to the naked human eye. Encryption requires the use of a cryptographic key, which is a set of mathematical values that both the sender and the recipient of an encrypted message have previously agreed on. Encryption protocols are making this process automatic.
Apps that are handling sensitive data, like MetaWealth™, employ a double encryption protocol that keeps all data secure from interference and enables the safest user experience.
Extra reading:
https://www.cloudflare.com/en-gb/learning/ssl/what-is-encryption/
https://www.techtarget.com/searchsecurity/definition/encryption
https://www.ibm.com/topics/encryption
If you have any other questions please feel free to reach out to us using the contact us page.
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