Currently, fraud on the Internet is actively progressing. The users of the network try to work with trusted sites, but this does not always help. MyShield platform can become an innovative assistant in this case. It is a decentralized server for fighting fraud that positions itself as an ecosystem of trust. At the beginning of its journey, MyShield aims to attract credibility to cryptocurrency industry as a whole, providing a system of trust to the community. As the market develops, the solution can be adapted to all electronic commerce and the online ecosystems.
My Shield hails itself as the world’s first anti-scam platform. It aims to help people feel safe and secure when performing online transactions by adding an extra layer of security to cryptocurrency transactions.
Ultimately, MyShield would like to provide protection against scams for the entire e-commerce ecosystem. The company is currently fundraising using the My Shield token cryptocurrency with the hopes of fully launching their anti-scam platform the first quarter of 2019.
About MyShield
MyShield was developed with technology from the company BrandShield. Founded in 2013, BrandShield developed a cyber-intelligence system powered by artificial intelligence to detect fraud and counterfeiting in cyberspace.
BrandShield’s system monitors the Internet in search of scams, phishing, fraud, trademark infringements, and other nefarious activities occurring on websites, social media sites, e-commerce marketplaces, and mobile apps.
A man named Yoav Keren is the CEO of both My Shield and BrandShield. According to his LinkedIn page, he is a native of Israel and has an MBA from Northwestern University’s Kellogg School of Management. He has a background in marketing and business development and has also served as an advisor to Israeli politician Haim Ramon, who spent more than a quarter-century in the legislative branch of Israel’s government.
How MyShield Works
There’s little doubt that scams have become more prevalent with the recent emergence of cryptocurrencies. The MyShield website cites a study that found that hackers steal up to $1.5 million in cryptocurrency funds from ICOs every month. My Shield hopes to combat the fraud and security issues that come with cryptocurrencies and provide what Keren calls “a scam free digital landscape.”
The My Shield platform will operate with the help of both My Shield users and AI-powered cyber intelligence providers who will detect and report potential scams. My Shield will be available as both a free app and as a browser add-on that gives users alerts on scams that threaten their online security.
According to the MyShield website, the platform will include:
MyShield application
MyShield blockchain
AI-powered cyber intelligence providers
Enforcement services providers
Guarantee providers
MyShield bounties
MyShield Trust Stamp
A key feature in the operation of the platform is the warning of a user about the sale of counterfeit products, the presence of viruses on the site and scammers when entering a website. Information about violations in the system comes from two sources - messages from MyShield users and messages from AI providers. There are two possible solutions when there is no consensus between the two data sources. In the event that AI cybersecurity rating indicates that an online element is a fraud, but the community reports are positive, you will need to apply for MyShield Trust stamp. In the event that a cyber intelligence provider evaluated by AI means claims that the online element is trusted and the community marks it as fraud, the supplier will receive a warning and carry out the process of reassessing its information. If no consensus is reached, both estimates will remain visible to a user.
Benefits
The benefits of MyShield are clear. Cybersecurity as it relates to both cryptocurrencies and e-commerce transactions are of the utmost importance. Being able to better identify and shutdown scams is a much-needed service, especially since it allows users to help identify scams.
By all accounts, MyShield is capable of accomplishing their goal of bringing companies, users, cyber intelligence providers, and community enforcers onto one platform. However, there is some level of concern that they are not sharing how to actually purchase the tokens needed to use their platform.
And, MyShield will provide a basic money refund guarantee for transactions performed on trusted sites. The platform plans to offer additional extended warranty programs and will allow several guarantee providers to participate in the ecosystem, i.e. users will have the option to choose warranty programs from different suppliers.
The advantage of the platform is the option "Money Back Guarantees". If a user performs a transaction on a website marked by MyShield as a trusted online element (website, web page, listing on the market, etc.), but while online, the element was actually a fraud (fishing, forgery, etc.), a user will be able to demand the money paid for the transaction from MyShield. The basic warranty will be limited to a specific cost per transaction, and for a specific amount of transactions for a certain period of time. Initially, the guarantees provided by MyShield will be limited to cryptocurrency transactions and will only be available on websites protected by MyShield mark.
It should also be noted that thanks to blockchain system on the platform user-generated reports are available and reliably protected, the evaluations provided by the cyber intelligence provider based on AI, MyShield Trust StampTM, MyShield Trusted Wallet StampTM, the results of the website or cryptocurrency wallet verification, which have got the stamp from MyShield.
Visit MyShield on
Website: https://www.myshield.com/
WhitePaper: https://www.myshield.com/whitepaper/
Telegram: https://telegram.me/MyShield_TM
Facebook: https://www.facebook.com/MyShieldTM/
Twitter: https://twitter.com/MyShield_TM?lang=en
ANN: https://bitcointalk.org/index.php?topic=3179901.0
Writter
Bitcointalk Username: Kenzio2016
Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1999681
ETH Address: 0x152095898a7Aa50a716508f5997790beEdd276Ec