On January 17, 2018, a US based hospital was attacked by hackers who demanded around 55000 $ worth of bitcoins. The hospital had no option but to pay the hackers. In the movie “the net” the character of Sandra bullock losses all her worldly identity because of such an attack. The movie was a precursor to the coming times at how the world could be held at ransom if we were not just that bit careful.
Gone are the days when ransom would include kidnapping, holding hostage of a mortal, today hackers are holding major corporations around the world to ransom by implementing sophisticated software, that lock the end user out of the systems. Cyber crime today has emerged as one of the biggest problems in the world and it is estimated that they will cost the world economy around 6 trillion dollars annually by 2021. Before we go any forward let us understand what Ransom ware is. According to Wikipedia “Ransomware is a type of malicious software from crypto-virology that threatens to publish the victim's data or perpetually block access to it unless a ransom is paid.” In simple terms, the world that is today totally dependent on technology can be threatened of access denial/misuse of its data if a sum of money is not paid. We saw in the above example how the US based hospital had to pay the ransom.
Now you might think that you have installed the latest antivirus software, the latest firewall and the latest in data protection, you are safe. How mistaken you might be!!! Today cyber threats have become more and more sophisticated and the latest trend in cyber-security is not a one glove fits all solution, but individual custom-made approach. The cyber security companies today work on limited knowledge sharing, trying to play a cat and mouse game with the hackers, unfortunately it is the hacker that always wins as the cyber security companies can just make your device as good as last hack proof.
One cyber security company has understood this problem and is trying to come up with a solution using the blockchain technology. Uncloak is offering just that helping businesses to monitor and protect themselves from hackers managing to keep one step ahead of the hackers. What uncloak is doing is to create a decentralized, scalable blockchain enabled cyber security system, that will use the strength of the community in identifying the problems. The knowledge and expertise thus gathered will be used to find solutions for the end users. Uncloak will use advanced artificial intelligence that will detect the latest Cyber security threats and update the current database making the end user aware of the threat thus given the user time to protect himself/herself. This is currently non-existent in the market and Uncloak intends to finally put an end to the problem.
To conclude, I feel the project has enormous potential, coming to understand that in the coming times brick and mortar crimes will be replaced with cybercrimes. The more our lives go online, the better protection is required just like the biometric locks that read finger prints before opening doors, uncloak offers the latest in cyber threat management and is bound to succeed.
More information on the project can be found by reading the while paper at
https://whitepaper.uncloak.io/ or visiting the website
https://uncloak.io/ or telegram at
https://t.me/uncloakio . The token sale is currently on and will last till July 3, 2018.
