Driven by the growth of e-commerce, as well as the sophistication of hackers, sales of counterfeit and pirated goods are estimated to reach up to $2.81 trillion in 2022 annually. In the cryptocurrency, industry scams pose an even greater challenge.
According to an Ernst & Young research from January 2018: 10 percent of funds raised in ICOs has been stolen. Hackers steal up to US$1.5 million in ICO proceeds per month. The magnitude of this problem poses a risk on the growth of the entire cryptocurrency industry.
If you are having trouble with security system on your transaction i have a best solution for it this is MyShield
What is the MyShield ?
MyShield is a decentralized platform that seeks to alert users whenever they reach a phishing website, an online counterfeit sale, and other types of online scams. MyShield will provide users with alerts against scams and will provide validations for crypto transactions. The MyShield model is based on two sources of intellgence – reports of potential scams by users of MyShield shared with the community, and providers of AI powered cyber-intelligence.
The MyShield application is intended to be provided to users via different platforms such as:
- Mobile App
- Desktop App
- Browser extension
- SDK's to other applications
- Software (client)
- JavaScript widget
- MyShield's Website – users who did not install any of the above applications will be able to perform queries using
MyShield's database through MyShield's website. - MyShield Protection Server – a solution that is planned to be developed by MyShield to provide Internet Service
Providers and organizations with the ability to use the MyShield application as part of their network, and alert users
of potential scams.
While BrandShield AI powered cyber intelligence already provides a fully operational solution on the B2B level and can exist without blockchain, the MyShield™ decision making process is much more complex. It is based on the combination of the already existing cyber intelligence (of BrandShield and other cyber intelligence providers), as well as reports by the community, crowd wisdom scoring, and the capability of storing data that is not manipulated by both the users and the providers. As part of the model, users will be rewarded for their reports. Hence the need for the blockchain - a transparent, secured database.
The MyShield token, called MSLD is a token of trust. It will be the medium of exchange and usage within the MyShield platform, and will have several uses in the MyShield eco-system including premium subscription, guarantee programs, reporting, reporting bounty reward, subscription of companies to the cyber intelligence providers, issuance of the MyShield Trust Stamps, and payment to enforcement service providers.
MyShield will present two scores to the users – the score based on the reports from the community and the score of the AI powered cyber intelligence provider. There are two potential resolutions when there is no consensus between the two sources of data. In the case the AI cyber intelligence provider's score indicates an online item is a scam, but the community reports are positive, the entity responsible for the online item in question will be required to apply for The MyShield Trust Stamp. In case the AI powered cyber intelligence provider's score marks the online item as trusted, and the community marks it as a scam, the provider will receive an alert and will perform a process of reassessment of its scores. If no consensus can be reached, both scores will remain visible to the user.
Check out this video :
The reports made by users, the scores provided by the AI powered cyber intelligence provider, the MyShield Trust StampTM, the MyShield Trusted Wallet StampTM, the validation results of the website or wallet that were provided with the stamp.
MyShield wants to accomplish a complete decentralized solution and therefore will enable multiple AI powered cyber intelligence providers to integrate with the system on the same level as BrandShield’s AI powered cyber intelligence. The users will be able to choose which of the providers they are interested to use on the MyShield application. The scores provided by the different cyber intelligence provides will be encrypted and stored on the blockchain, and therefore fully protected from the competitors.
A basic money-back-guarantee for transactions performed on trusted websites will be provided by MyShield. MyShield plans to offer additional extended guarantee programs. MyShield will also enable multiple guarantee providers to take part in the eco-system. The users will have the option to choose guarantee programs from the different providers.
The meaning of the Money-Back-Guarantee will be that if a user performed a transaction on a website that was marked by MyShield as a trusted online item (website, webpage, listing on a marketplace, etc.), while the online item was actually a scam (phishing, counterfeit, etc.) the user will have the ability to claim back from MyShield the money paid in the transaction. The basic guarantee will be capped at a certain value per transaction, and for a certain amount of transactions for a period of time. Initially, the guarantees provided by MyShield will be restricted to cryptocurrency based transactions and may be limited to websites with a MyShield Trusted Wallet Stamp.
For more information chek out this link below :
Website : https://www.myshield.com/
Bitcointalk : https://bitcointalk.org/index.php?topic=3179901.msg32931789#msg32931789
author : shalamenda
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