Ex-hacker launches blockchain powered cyber security solution

British start-up, Uncloak.io, promises to forecast future hacks using AI, blockchain and bug bounties while making cybersecurity affordable to businesses of all size.

Ex-hacker turned security expert, Tayo Data has launched a blockchain powered cyber security solution. Much like a weather forecast, the firm promise to identify future hacks and allow organisations to be prepared for threats before they arrive.

Uncloak brings together both pioneering technology such as advanced AI and blockchain 3.0, as well as the human expertise of a network of ethical hackers to create next-generation cyber security threat management.

With Uncloak, blockchain provides a decentralised marketplace to create a platform where both ethical ‘white hat’ and ‘black hat’ hackers can be paid in a legitimate way for finding and sharing the newest threats and vulnerabilities.

The blockchain solution will work on a low-cost subscription model. Subscribers will have access to a personalised dashboard which searches everything from printer passwords to vulnerable software within the company’s network to measure their cyber security.

When a threat is identified, the subscriber is notified and given steps to resolve the issue. If they aren’t able to activate the solution themselves, Uncloak will connect the user with a verified local IT security expert who will be able to resolve the problem at a pre-defined and agreed cost.

Companies will be able to subscribe to this platform using traditional currencies, however, Uncloak has its own UNC Token which can be used to pay for a subscription.

Given that this platform offers a marketplace for hackers to be economically awarded for ethical behaviour, Uncloak looks to be addressing one of the biggest issues for CTOs relating to cyber security: the skills gap.

A recent report from Frost & Sullivan and (ISC)2 found that the global cyber security workforce will have more than 1.5 million unfilled positions by 2020. This number is compounded by 45% of hiring managers reporting that they are struggling to support additional hiring needs and 62% of respondents reporting that their organisations have too few information security professionals.

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