Mt. Gox (650,000 BTC), Bitfinex (120,000 BTC), Youbit (closed)
Parity Technologies ($30M), CoinPouch ($6.5M), Tether ($31M)
DAO Ethereum ($50M), Shift / Krypton (51% attack)
Our solution suite is comprised of two offerings - (1) Security for private blockchains such as those used by enterprises and industry consortia and (2) Security for Crypto Wallets on desktop, mobile, and cloud-based platforms designed to prevent the harmful actions of malware.
There are two types of blockchains – public and private. In a public blockchain, anyone can setup a node and become a miner. They have complete access to the distributed ledger, can initiate transactions, and create smart contracts. The Bitcoin blockchain is the largest public blockchain. In a private blockchain, permission is required to read the information on the blockchain and to conduct transactions. Nodes that perform the mining are defined by the entity that manages the private blockchain. Private blockchains are run either by consortiums or by a single entity such as an Enterprise.
Our plan is to secure private blockchains. A user interacts with a private blockchain via an app (dApp). The dApp could be a wallet or custom software that talks to the blockchain client via API. The APIs allow the user to query the blockchain, initiate transactions, and create smart contracts. There are API interfaces to all the popular blockchains – Bitcoin, Ethereum, Eris and Quorum (built on top of Ethereum), Ripple, and Hyperledger (implementations – Fabric, Sawtooth and Corda). What a user is allowed to do depends upon the permissions granted to that user. For example: only some users should be allowed to access the admin API, only some users (developers) should be able to create smart contracts, etc. Our solution involves two parts – (1) Blockchain Defender Agent which is located between a dApp and a blockchain, and (2) Blockchain Security Cloud Service.
It is estimated that a new malware specimen is released every 4 seconds. By the time antivirus software vendors release a signature for each specimen (30 days lag time), approximately 650,000 new malware specimens will have already been released. For this reason, it is safe to say that typical antivirus software is unable to keep up with this global threat.
Rather than trying to identify the malware, our solutions take a radical approach: to assume that malware exists on your device and to proactively prevent it from doing its job – keylogging, screenscraping, stealing clipboard contents, spying on webcam/microphone activity, and so on. We have successfully developed and deployed our solutions on desktops (PC / Mac) and mobile devices (Android / iOS) over the course of several years and are now adapting our industry-proven solutions to secure crypto wallets.
BlockSafe Technologies, Inc. is a US company incorporated in Wyoming with headquarters in Edison, NJ. The company has licensed patented technology from Strikeforce Technologies, Inc. and plans to enhance it with additional product offerings.
Our team is comprised of people experienced in cyber security sales and operations. Our company is planning on an Initial Coin Offering (ICO) to raise funds for further product development and operations.