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With more than 20 billion dollars invested in cybersecurity in 2021, many in the industry believe that 2022 will build on that momentum
FREMONT, CA: Despite the fact that 2021 was unlike any other for cybersecurity, with more than 20 billion dollars invested, many in the industry believe that 2022 will build on that momentum. While some industries, such as cloud, API security, healthcare IT, and insurance, soared to new heights this year, several of those trends, as well as some other ones that emerged in the second half of 2021, could continue next year.
There is no questioning the crypto market's explosive growth in 2021, as well as the massive amount of venture capital that has poured into the field. As a result, the industry of securing the new currency market has exploded. Fireblocks, a New York-based company that aims to solve a range of crypto-related concerns such as security, compliance, and governance, raised a 400 million dollars Series E investment from Sequoia Capital in late November, valuing the company at 8 billion dollars.
The round was the company's third raise in 2021, and others like New York-based Chainalysis—which analyses blockchain data and crypto transactions for governments, banks, and businesses—have also raised multiple large rounds as investors became more interested in technologies that secure digital wallets and transactions as the year progressed. Another wave one can see gaining traction in 2022 is compliance, stated Leo Scott, chief innovation officer at cybersecurity firm DataTribe.
Shift left is a software delivery approach that aims to detect errors early on, whereas compliance in the security world ensures that best practices are followed and generally includes third-party audits. According to Scott, there is a trend toward a future where developers and IT teams may formally verify that software meets a specification before it gets into production. Smart contract security audits have been the focus of recent formal verification activity, he stated. Furthermore, smart contract auditing businesses like CertiK and Certora have proven quite innovative.