© CEOCFO Magazine -
CEOCFO Magazine, PO Box 340
Palm Harbor, FL 34682-
Lynn Fosse, Senior Editor
Steve Alexander, Associate Editor
Bud Wayne, Marketing
& Production Manager
Christy Rivers -
Interview conducted by:
Lynn Fosse, Senior Editor
Published – August 22, 2022
CEOCFO: Mr. Riggins, what is the idea behind iQvcloud?
Mr. Riggins: Our first product, iQvault, was designed to protect critical data at rest. We believe everyone sooner or later will be the victim of a data breach. Many companies, individuals and government agencies would lose everything if unauthorized people had access to their highly confidential information. We know everyone will likely have information stolen at some point in their lives. With iQvault, the stolen information will not be decipherable. We find that to be an advantage in the ever-
CEOCFO: I see from your site that iQvault is a revolutionary information security platform; how does it work and how are you able to protect the data as you described?
Mr. Riggins: We use a method where we randomly shred the data, remove the meta tags and then the data is randomly stored wherever the user chooses…usually multiple places. This makes it impossible for a hacker to put the pieces of stolen data back together in readable form. Solving a Rubik’s Cube puzzle is hard enough, now imagine how much harder it would be if we removed the colors from the squares and it was all white.
Only the authorized user can retrieve that information in readable form. This is what makes it revolutionary technology.
CEOCFO: I am guessing it is proprietary information, but if there is nothing to identify it, how do you get it back?
Mr. Riggins: The authorized user can retrieve the information through iQvault where it is put back in readable form. The method we use to generate the shards and then reassemble them is our proprietary technology…our secret sauce.
CEOCFO: What were some of the challenges in creating iQvault?
Mr. Riggins: We faced a plethora of problems. But the biggest ones were trying to get the tech guys and the coder guys to work together because they had this mercurial attitude that their ideas might be better than the other person’s. When you are working with the best, you are working with strong personalities and sometimes it was hard for one person to work with the other person. They would want to use different languages with their work: “Oh, that is an old language and we do not want that old language; we only work with the newest languages out there.”
My job was to find the balance and keep everyone working together to create this amazing technology. When you work with this kind of talent, for them, it’s not just about getting paid; it’s about pride and prestige and outdoing everyone else in the industry. It’s a small pond. They all know each other and can get very competitive.
My son says, “Dad, it’s bragging rights.” That is basically why they do it, because of bragging rights. It can be challenging to get everyone on the team on the same page. That is part of why it took so long.
CEOCFO: Why are you convinced that it could be done; what gave you the confidence that there was a
Mr. Riggins: I had dreamed that it could be done. My dad got a degree in physics, my brother got his degree in medicine and I got my degree in math. At the dinner table we were always problem-
I got them all together and told them we were going to create something that nobody has ever created before.
CEOCFO: How are you launching the products?
Mr. Riggins: We are ready to bring iQvault to market. That is our first product. We are able to secure data that is either stored in the Cloud or on premise with this product. We are currently raising funds to expand our marketing plan and build our sales team. We are ultimately looking to license to resellers. The pandemic slowed us down a bit. Conventions were canceled and businesses were putting off making big changes or decisions or even spending money.
CEOCFO: If you build it they will come, but it does not always work that way!
Mr. Riggins: That is the only way they will come…you have to build it first. My quagmire is I am a black man in an industry that doesn’t see a lot of people of color in my position. I’m also not the engineer behind our technology. That’s not my area of expertise. I needed these extraordinary people to help bring my idea to fruition. I am the guy who believed in it because I know it works. It has been tested and has gone through the wringer and all of the wash cycles. Now we have companies analyzing it and referring to it as the “Holy Grail” of cybersecurity products.
CEOCFO: When you are talking to someone knowledgeable, is it easy to understand what you are doing and why it is effective?
Mr. Riggins: It all depends on if they have a technical background. Most people will understand if you explain the purpose of the technology and discuss generally how it works. However, when the conversation starts to get very technical, the engineers step in. They speak a different language and the average person won’t understand what they are talking about. When I meet with CEOs, the conversation will go so far but then it’s time for their tech team and my engineers to get involved.
CEOCFO: Your recent press release headline starts, “Black Business Owner of iQvcloud.” Why is that important, and do you feel it can give you an edge in some instances today?
Mr. Riggins: There is a stigma when it comes to black people in this industry. Historically, people haven’t looked to the black community to solve data security problems. This has created a challenge for me. People didn't have faith in my idea. They would meet with me but I could instantly tell I wasn’t who they expected when I walked in the door. They may have had the means to help with funding and resources but this was new to them so they hesitated. Now that the product is complete and has been tested and it does what I said it would do, people are taking an interest. I was looking for and continue to look for people who will support me and help bring the product to market. It’s not about having an edge; it’s about putting it out there now that I have a revolutionary product. I feel that bringing attention to my struggles in the process may shed light on the problem. The more we talk about black people in this field, the more common it will become and hopefully we will see a change in the support we get from business owners as well as investors.
CEOCFO: What are your plans for the next three to six months?
Mr. Riggins: My plan is to grow my team and find people who want to be a part of something special. I hope to achieve our funding goals in the next few months and move forward with a strategic marketing plan to reach the national and international markets.
CEOCFO: What is involved in implementation if someone decides they want to embrace iQvault in their system?
Mr. Riggins: The installation will depend on where they want to store their data. We will provide them with the technical support necessary to install iQvault based on their specific needs. We are able to customize the product since not all systems and needs are the same. Overall, the process is fairly simple.
CEOCFO: What did you learn throughout the whole process getting to where you are today and what might have changed from the original concept?
Mr. Riggins: I learned that technology is ever changing. You have to keep up with it. Just when you think you have something figured out, you learn of a better way to do it. We see this with electronics. You buy the best, latest product with all of the bells and whistles only to find out six months later, there’s something better. Most of these companies are designing products that do amazing things but they don’t factor security into it. We want to protect people as they use these products. In order to do that, we have to keep up with new technology and make necessary adjustments to our products so that we can provide the best protection. The core of our technology has remained the same, but over the years we have made and will continue to make necessary adjustments to meet a client’s needs and to stay ahead of hackers.
CEOCFO. Why take a look at iQvcloud right now?
Mr. Riggins: Hackers aren’t looking to just steal your identity anymore. These people are looking to do serious damage to people, businesses and even governments. Imagine someone getting their hands on your highly confidential information and then exposing it to your competitors or the public. It could put you out of business, destroy your reputation or even harm people on a very large scale. We are providing the solution people need to protect their critical data. iQvault keeps your documents and videos from being used against you. We can protect confidential medical, personnel, patent, tax and legal information. We can protect unpublished music, manuscripts and video footage. You don’t realize how valuable your information is until the wrong person gets their hands on it. Why wait until that happens? Why learn the hard way? Change is coming. This is a good change. All I have to do is show them. We’ve done all of the work already. Now we are trying to get it out there.
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“We are providing the solution people need to protect their critical data. iQvault keeps your documents and videos from being used against you. We can protect confidential medical, personnel, patent, tax and legal information. We can protect unpublished music, manuscripts and video footage. You don’t realize how valuable your information is until the wrong person gets their hands on it.”