A Brisbane firm has unveiled a cloud-based storage and document trading system that it claims is the “world’s most secure”.
Your Digital File – created by Brisbane accountant Jamie Wilson – was developed over the past three years with security experts around the world.
The system, at www.yourdigitalfile.com, uses the company’s Cryptoloc encryption algorithms, which means users need more than a password to access confidential files. An international patent application for the technology is in place.
Everything saved in Your Digital File is automatically scrambled so files can’t be opened and read without a password-protected digital private key that is generated and saved to a client’s computer when they sign up for the service.
The private key unlocks and decrypts the scrambled files, which can be recovered if the security key is lost.
Your Digital File’s Wilson said the system’s encryption algorithms comply with the Australian Government’s Signals Directorate standards for cryptographic algorithms and protocols and the legal requirements for valid electronic signatures.
“Your Digital File’s wall of security provides new options for industries such as banking, insurance, telecommunications and financial planning – virtually any industry that needs to store documents securely, confidentially and with complete audit trails.”
He also claimed that it provides a new storage option for Bitcoins and assists telecommunications firms when dealing with changes to Australian privacy laws.
Wilson was motivated to build the product after the sudden death of his father. He was having difficulty locating and bringing together his father’s documents.