Home Cryptocurrency BrandShield launches MyShield to guard customers from cryptocurrency scams

BrandShield launches MyShield to guard customers from cryptocurrency scams

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Blockchain and cryptocurrencies have wrestled with one pervasive subject because the daybreak of the business: scams. Determining find out how to spot an actual cryptocurrency web site amongst these which are phishing or in any other case making an attempt to entry your private info may be arduous.

At this time, BrandShield — an AI-powered cyber intelligence firm centered on on-line model abuse — has introduced a collaboration with Cool Cousin and Zeex to launch an anti-scam platform known as MyShield.

MyShield is designed to guard its companions and their customers and combines AI with group suggestions to present cryptocurrency customers higher confidence. Apparently, the platform affords incentives for marking suspicious actions, along with a money-back assure for premium customers, thus offering insurance coverage for on-line purchases.

So how a lot of the answer is AI-driven, and the way a lot depends on human reporting of points?

“Customers of MyShield will get an preliminary notification primarily based on the AI, even when there aren’t any human experiences but,” CEO Yoav Keren instructed me. “If a consumer creates a report, and the web site or social media web page has nonetheless not been analyzed by the AI, an preliminary notification primarily based on the consumer’s experiences will likely be supplied.”

Importantly, MyShield received’t simply reply to a single consumer’s suggestions. In spite of everything, it may be consumer is marking a superbly good web site as a rip-off both by mistake or to achieve a aggressive benefit.

“A sure web site, social media web page or submit, market itemizing, and many others. will likely be decided as a rip-off solely after there’s a consensus between a vital variety of customers and the presence of an AI cyber intelligence end result,” Keren stated. “So an aggregation of human experiences equals the AI-driven end result within the evaluation course of.”

The platform goes additional nonetheless to make sure false experiences aren’t negatively affecting good tasks.

“When a consumer creates a report, they are going to be required to place in a stake, paying with the MyShield token. If their report is discovered to be proper (i.e., when there’s a consensus amongst customers and the AI cyber intelligence) they may get that token again, plus their share within the bounty. In the event that they’re flawed, they lose their token (which will likely be added to most of the people bounty). Moreover, MyShield has a validation and dispute course of that permits a web site proprietor or social media consumer to problem the rating supplied.”

That is the primary time MyShield has partnered with Cool Cousin — a journey firm working on the blockchain — and decentralized cryptocurrency purchasing platform Zeex. Each companions will help the applying and put it on the market to their very own customers.

So what’s subsequent on the corporate roadmap?

“MyShield is presently in a personal sale of its tokens,” Keren stated. “A public sale is deliberate to happen throughout Q3 of 2018, and the beta model of the platform and utility is deliberate to be launched throughout Q1 of 2019.”

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