Cyber security is a serious topic of concern for all people, government agencies, industries, energy, and national infrastructure entities today and for the foreseeable future. As cyber criminals become increasingly complex, securing data, information systems, and infrastructure of commercial, governmental and military assets is paramount.
Cyber security experts have figured that Blockchain technology is a great way to combat cyber-attacks. Steve Bassi, the CEO of PolySwarm, has no doubt blockchain technology will revolutionize cyber security. Bassi’s dream has been to create a decentralized, distributed marketplace, where security cyber experts could compete to solve world wide security threats.
Apart from being the CEO of PolySwarm, Steve is the Founder and CEO of Narf Industries, a boutique information security company that researches, designs, and develops new information security solutions for a diverse range of clients from casinos to governments. Steve earned his master’s degree in computer science from Naval Postgraduate School and served as a PI on the DARPA Cyber Grand Challenge, the first autonomous computer security competition in the world.
When creating PolySwarm, Steve and his team saw the opportunity to build a marketplace to combat security threats. The marketplace uses “bounties” to incentivize security experts, allowing competition in countering cyber and information threats.
The PolySwarm market runs on Nectar, a token that will make it easy to submit and classify potential threats on the PolySwarm market. The token replaces traditional lump anti-virus and threat scanning subscription payments that are inefficiently distributed to a single vendor that doesn’t cover a variety of threats well.
Swarm’s token will have a finite supply, 70 per cent of which will be sold during the initial coin offering (ICO). The company itself will keep 15 per cent of the tokens, and the other 15 per cent will be used to grow the network, such as strategic allocations to prospective security industry partners.
The fact that cyber security experts come from all parts of the world makes PolySwarm compelling and scalable. With this inclusion and geographic scope, comes scale. No matter the language of a security expert, malicious threats all reduce to ones and zeros, levelling the playing field in an increasingly borderless world.
We are already seeing some cyber security experts get interested in PolySwarm. According to Mark Tonesen, a former CIO of McAfee, PolySwarm is uniquely addressing an important issue in cyber security. When asked to comment on PolySwarm ICO, Dan Guido, CEO of Trail of Bit, said that:
“PolySwarm is one of the most interesting ICOs to me personally. I’m excited to help PolySwarm build and secure tomorrow’s threat intelligence market.”
As we have said earlier, PolySwarm has already announced that it will be running an ICO for the purpose of enlisting security researchers across the globe in creating a safer internet. For more information, and participation in their Pre-Sale and ICO, kindly visit: https://polyswarm.io/