MyShield - decentralized anti-scam platform.

v-veles (25)in #myshield • 7 years ago

In recent years there has been a rapid development of online scammers, cyber attacks are taking place every day, in different directions, this can affect each and every one of us.
The growth and development of the Internet has created new risks. These risks include cases of fraud, phishing, counterfeits, violation of intellectual property rights, exploiting of brand names, impersonations, identity theft, imitations, slander, misleading of customers, etc. Online “scam” is a general term representing multiple methods of using digital mediums for fraud, phishing, counterfeit sales etc.

The rapid growth of the cryptocurrency industry has reached millions of people who are new to the industry and therefore more vulnerable to online cryptocurrency scams. Every fraud incident has a ripple effect on the lack of trust in the market. As “trust” is a quality that is hard to “achieve” and yet very easy to “lose”, when lack of trust reaches a tipping point the inherent risk and danger to the nascent cryptocurrency ecosystem could be catastrophic.
Cryptocurrency companies are exposed to numerous threats in all stages of their life cycle: from the ICO process to the day-to-day course of business. Moreover, the shift from the money raising phase to “the-day-after” holds various risks.

With such scammers it becomes more difficult to fight, but there is a way out, and now I'll tell you about it, project MyShield is an innovative decentralized anti-scam platform. It is determined to inspire confidence when executing online transactions. Powered by both AI cyber intelligence and crowd wisdom, MyShield provides a constantly improving layer of security for the crypto-currency Ecosystem and eventually for the entire e-commerce world.

So, let's take a closer look at what this project offers us.
The MyShield decentralized anti-scam platform, intends to enable users to perform their day-to-day online transactions with full confidence. The MyShield platform, which is based on a pending patent, will include the MyShield application, MyShield blockchain (which will be launched on an existing blockchain), AI powered Cyber Intelligence Providers, Enforcement services Providers, Guarantee providers, MyShield bounties and the MyShield Trust Stamp.
The ecosystem will also include end-users of the application, as well as ompanies and organizations who are looking to protect their brand, website, investment and clients.

The application will have three main features:

Alert against scam
MyShield will alert users when they reach a scam online item (such as a website, social media post, marketplace listing etc.), attempting to perform fraud, phishing, sell counterfeits, etc. The alerts will be provided in different levels of detail. A general potential risk score will be presented, as well as specific scores based on users' reports, and on the AI powered cyber intelligence provider.
Crypto-transaction validation
MyShield will perform a validation process that matches a wallet number and a website. When a user intends to perform a cryptocurrency transaction, the MyShield app will alert the user when the wallet to which the transaction is about to be made does not match the validated wallet of the website. This will protect the users of MyShield from cases of hacks and fraud of different types that intend to steal their tokens. The transaction validation process will be performed by the app based on the blockchain.
Reporting scam
The application will allow users to report online items (websites, social media posts, specific listings on ecommerce marketplaces, etc.), that they suspect as a potential scam (fraud, phishing, counterfeit sales,
etc.). Users will also be allowed to provide a positive report on a website, social media post or a marketplace listing which they believe can be trusted. The reports performed by a user will be recorded in the blockchain and will be visible to the public.

The MyShield scam reporting functionality will be a major factor in the creation of the decentralized anti-scam ecosystem. The reports by users create a community that acts together to fight scams and be aware of scams. Reports provided by users, are recorded on the blockchain, aggregated to create a consensus on the state of a specific online item, and are shared with the entire community of MyShield. The reporting process A user of MyShield that has been subject to a scam of any sort, or that suspects an online item to be a scam, can report the potential scam through the app.

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