The open-source platform is built to fight fraud and phishing in the cryptocurrency space through community involvement and a digital rewards system.
2 hrs ago
The Internet opened a whole new world of opportunities, but we quickly found out it was not safe. Scams and phishing schemes lurk in cyberspace, looking to steal our data and use our intellectual property. Counterfeits and piracy in e-commerce are forecast to reach $2.81 trillion by 2020.
In the cryptocurrency industry, the problem is even acuter as it is based on a decentralized model and focused on anonymity and independence from governance or regulation. Traditional anti-virus and anti-spam services cannot protect us from new types of cyber threats, which is why BrandShield has come up with its intelligent solution.
MyShield takes the fight against fraud to a whole new level by involving the community in the detection process. The system alerts crypto users of different scams, while those who report new threats and share them with community members are rewarded with MyShield tokens – proprietary cryptocurrency of the platform.
MyShield is a decentralized platform that uses additional data from AI-powered cyber intelligence providers stored on blockchain. BrandShield will be the first AI-powered cyber intelligence source as it is the company that developed the technology for monitoring and analyzing potential online threats and vulnerabilities.
The combination of a motivated, engaged community and AI technology creates a strong shield for companies and users from all sorts of threats and infringements and supplies information and monetization options for solution providers. The reliable system builds guarantees for all parties and ensures that online items are low-risk. The information from the BrandShield system will be complemented by crowd wisdom, making MyShield even more beneficial for users, companies, and solution providers.
“Here at BrandShield, we believe in being one-step ahead in the fight against all types of online scams, and in order to do that we must also be ahead of the curve in terms of technology,” says Yoav Keren, CEO of BrandShield. “By launching MyShield and by using blockchain technology, we are committing to protect the Internet by building a powerful coalition of crypto users and companies.”