"Business is changing and the guys who are trying to get in will start using encryption more effectively," he said.
Grashion warned that hackers will see a great opportunity in attacking key infrastructures.
"If they can get malicious code onto your end-point they can encrypt that machine and ask you for money to decrypt it," he said.
Richard Moulds, executive vice president of product strategy at Ncipher, added: "It is almost like a new style of denial-of-service.
"If you can get into an organisation and revoke the key that is used to encrypt back-up tapes, what a fantastic way of denying your business."
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iTnews Executive Retreat - Security Leaders Edition
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