The Blocksafe Technologies Era has begun. It seems based on the below information that at least one other Press Release must be imminent and I would say in the next two weeks or less if the timelines have not changed for B-Safe:
Monday's Press Release Revealed a $35 Million Dollar Target for the "Securitized Token Offering":
Securitized Token Offering
BlockSafe Technologies is planning a Securitized Token Offering (STO, formerly known as an ICO), to raise approximately $35M over the coming months
. BlockSafe’s “BSAFE™” security token will be a revenue participation token
, paying a passive income to all token holders.
The funds will be used to commercialize and market our blockchain eco-system security solutions
, including CryptoDefender™ for desktop and mobile.
Full Press Release from Monday
BlockSafe Technologies, First to Market with Cybersecurity Solution for Crypto Wallets
CryptoDefender™ Guards Wallets from Crypto Theft Attacks
July 10, 2018 08:00 AM
Eastern Daylight Time
EDISON, N.J.--(BUSINESS WIRE)--BlockSafe Technologies, Inc., (BlockSafe) the company that secures the blockchain ecosystem, today announced the availability of CryptoDefender™ for desktop computers, dedicated to protecting crypto wallets from cyber-attacks. It is first in a suite of products that will ensure the integrity of crypto wallets, exchanges and private blockchains. BlockSafe is launching this product now as the universe of crypto users, which is 24 million strong and growing to 200 million by 2024. Over $1.1 billion has been stolen in the first six months of 2018. Market watchers expect this figure to continue to grow dramatically into the foreseeable future.
“I think that some such governance technology is badly needed, and sooner rather than later.”
“Private Blockchains, exchanges and crypto wallets are not as secure as one might think,” explained George Waller, CEO of BlockSafe. “Every time you log onto your wallet, you’re opening a window to a cyber-attack. If your coins are stolen in most cases there is absolutely no recourse, no insurance, no recovery and very little that law enforcement can do. The value is gone. It is a security gap that we are closing with the industry’s most comprehensive solution that can put a halt on ongoing breaches to crypto wallets, crypto-exchanges and private blockchains.”
In a recent report on Blockchain Governance, Bloor Research’s David Norfolk says, “One of the chief issues around a secure technology (such as Blockchain is capable of being) is that it becomes trusted – and if someone puts corrupt garbage into it, the garbage that comes out is probably trusted too." Highlighting BlockSafe's efforts to bring trust to the blockchain ecosystem, he adds, “I think that some such governance technology is badly needed, and sooner rather than later.”
CryptoDefender™ protects against cyber threats to crypto wallets by proactively preventing malware from harming computers. This solution is unique in that it assumes that malware already exists on the device and encrypts everything typed onto keyboards
. CryptoDefender™ for mobile devices will soon be available for iOS and Android platforms.
CryptoDefender™ has several critical features
that work together: keystroke encryption
prevents spying and clipboard while copy protection
prevents malware from monitoring the clipboard and copying the contents. The anti-screen capture
feature prevents screen-scraping malware from surreptitiously taking screenshots of information, and anti-clickjacking
displays hidden frames or frames originating from a potentially malicious domain.
BlockSafe is licensing patented security solutions for CryptoDefender™ from StrikeForce Technologies, Inc (OTC: SFOR), a leading provider of cyber security solutions for consumers, corporations, and government agencies. Licensing this technology brings to bear millions of dollars in R&D and 17 years of advanced and tested cyber technology from StrikeForce, for which BlockSafe pays StrikeForce a monthly fee.
Cyber ID Guard, LLC (Cyber ID Guard) will be selling CryptoDefender™ through multiple online channels. “We’re excited to be early adopters of what we strongly believe will be a core technology allowing blockchains, exchanges and crypto wallets to thrive,” said Chuck Crabb, CEO of Cyber ID Guard.
Securitized Token Offering
BlockSafe Technologies is planning a Securitized Token Offering (STO, formerly known as an ICO), to raise approximately $35M over the coming months. BlockSafe’s “BSAFE™” security token will be a revenue participation token, paying a passive income to all token holders.
The funds will be used to commercialize and market our blockchain eco-system security solutions, including CryptoDefender™ for desktop and mobile. The others include:
ExchangeDefender™ comprises two products to protect the internal systems of crypto exchanges. The solution marries CryptoDefender’s™ keystroke encryption technology along with ProtectID’s Multi-Factor Out-of-Band authentication, offering exchanges two of the most powerful anti-breach solutions.
BlockchainDefender™, which caters to enterprises and industry consortia, bringing access control, policy enforcement & transaction verification to ensure security for private blockchains.
About BlockSafe Technologies, Inc.
BlockSafe is the company that secures the blockchain ecosystem with a suite of solutions that protect against an array of cyber vulnerabilities. The company is headquartered in Edison, New Jersey. For more information, visit www.blocksafetech.com.
6-19-2018 Blocksafe CEO discusses the product offering
Crypto-Security: BlockSafe Uses Tech We All Know to Protect Against Crypto Hacks & Scammers June 19, 2018 @ 2:29 pm By JD Alois
Cryptocurrency and cybersecurity are at a crossroads. We have all read about huge exchange hacks pilfering gazillions of dollars worth or crypto. Of course, there are the wallet hacks too. As the blockchain / cryptocurrency industry continues to professionalize, defensive measures designed to mitigate security risks must be a priority. No one is going to want to use a wallet or an exchange that has been hacked.
StrikeForce Technologies (OTC PINK:SFOR) is a company providing a service we all know too well. You know when you receive that text message with a six digit code to authentic one of your accounts? That’s a service they can provide. StrikeForce claims it created this technology and patented it years ago. And frankly, its been pretty effective for security but not too lucrative for StrikeForce, as it struggles to keep afloat, according to a recent SEC filing. Getting into the crypto space may provide the lift the company needs.
Earlier this year, StrikeForce announced a new subsidiary, BlockSafe Technologies – designed to provide security solutions for blockchain businesses and cryptocurrencies. At that time, BlockSafe also announced its interest in launching an initial coin offering (ICO) selling BSAFE tokens. While the ICO has yet to launch, BlockSafe says it is nearly ready to launch its cybersecurity services for the booming industry.
Blocksafe estimates that over $9 million is stolen each day from crypto wallets. Add this amount to the billions stolen from crypto exchanges and it is safe to say there is a need here.
CI recently spoke with George Waller, co-founder of StrikeForce and now CEO of BlockSafe. We asked for his thoughts on the pervasive risk associated with the cryptocurrency industry today and for some insight into his company’s plans.
You have been in the online security business for many years. Can you please explain your legacy tech?
: BlockSafe is a subsidiary of StrikeForce Technologies, StrikeForce has been in business since 2001, StrikeForce is the inventor of two-types of technologies: Out-of-Band Authentication (OOBA) & Keystroke Encryption.
We have received 6 patents so far (three for each of them), we have 4 additional patents pending. Our OOBA platform is extremely robust and unique because we offer three different types of deployments;
1) it can be installed 100% on premise for those companies that want to manage it themselves,
2) a company can utilize our Cloud based service, in which we manage everything,
3) we offer a hybrid deployment whereby the company manages all of their own databases and logins, but they utilize our cloud auth service to facilitate the actually auth process.
Additionally, our platform offers 15 different types of authentication modalities.
The real value of OOB is that a user’s credentials are broken into two, and sent over two separate channels to servers, for the purpose of logging in, or, verifying a transaction.
The IP channel will typically carry a username (and possibly) a password, and the telephony channel, or, push channel (a mobile device) will carry the authorizing credential. Because the users credentials are sent via two completely separate channels, it makes for an extremely secure process, it also eliminates “The-Man-in-the-Middle” attack vector.
Our other technology is keystroke encryption. What we realized is that malware (or spyware) was always going to find its way onto the user’s computer or mobile device, bypassing existing security defenses i.e. anti-virus software. For the last 10 years (or so), one of the favorite malware tools of the hacker has been key loggers, because they can embed it directly into the data-stack and copy all keystrokes as they travel from the keyboard to the application i.e. browsers, desktop apps, VPN clients, etc. What we realized is that the data-stack process needed to be changed, that’s what lead to us building GuardedID.
GuardedID is a keystroke encryption technology that encrypts every keystroke you type, low in the kernel of the operating system (as soon as you type them), then GuardedID reroutes those encrypted keystrokes to your applications via its own encrypted data channel, never allowing your data to go through existing data stack, and because the key loggers don’t have access to our encrypted channel, any key loggers that reside on your device are rendered useless.
How did you decide to get into the crypto space?
: About a year ago we started looking into the Blockchain and Crypto space because we know that hackers will always go where the money is, we quickly realized that both of these areas could benefit greatly if we modified our solutions to address specific attack vectors and vulnerabilities.
We started looking into the #Blockchain and #Crypto space because we know
You are targeting wallets, cryptocurrency exchanges etc.
Who are you currently working with?
: We have not launched our products yet. Our CryptoDefender which protects digital wallets is currently just releasing now in beta, we have several wallets and exchanges that have signed mou’s [memorandums of understanding] with us that will be testing shortly
Our BlockchainDefender product is in development and should be available in Q2/19. We have discussed the capabilities with many private blockchain users and large integrators and they are all very excited to start testing it as soon as it’s available.
What is the single biggest risk to cyber theft in the crypto space?
: One of the biggest is multi-purpose malware that can steal wallet passwords, key files and change the send-to address in your clipboard.
One of the biggest is multi-purpose malware that can steal wallet passwords, key files and change the send-to address in your clipboard.
Are you integrating into Smart Contracts?
: We are not integrating into Smart Contracts. Our CryptoDefender is endpoint software which protects Windows, Mac, iOS & Android devices. Our BlockchainDefender is a an agent that sits between your blockchain app and your private blockchain and offers the following: transaction verification, DDOS mitigation, a firewall, a content filter, a rules & roles engine and an API to connect your blockchain to other legacy systems and blockchains.
What about malware injection into blockchain? Has that happened yet?
: We have not physically seen this happen, we have read many articles about how it could AND will happen. With that in mind, since we sit in front of your blockchain we are adding a content filter which will look for unwanted malware injections.
Could your tech have prevented some of the big exchange hacks?
George Waller: We believe so, from what we have read about a lot of these breaches, our keystroke encryption and strong multi-factor out-of-band authentication would have prevented the hackers from breaching these exchanges. Both, our Out-of-Band Authentication platform is available today as a stand alone product, as is.
Our keystroke encryption and strong multi-factor out-of-band authentication would have prevented the hackers from breaching these exchanges.
You are predicting a huge market in a few years, correct?
: Yes, we are.
There are about 24 million wallet users today and that’s expected to grow to over 200 million by 2025, we feel that every user should be protecting their wallet with our software, especially since there is no one to turn to if your coins are stolen.
Private (permissioned) blockchains are growing at a staggering rate. According to WinterGreen Research, the market for software, services and hardware to secure blockchain activity should grow to $355 billion as the digital economy moves to cybercurrency, while banks and the financial community totally restructure. It was $259 million in 2017.
5-18-2018 Upticknewswire interview with Mark Kay
. Blocksafe is discussed.
Mark and George reveal details on the PRE-STO that is slated for August during the 'City Blockchain' conference in Los Angeles last month..
Mark Kay's June 2018
video recorded conference with George Waller and posted by ZPaul:
The 'Secure Token Offering' (Pre-STO) initial offering starts August 1 for 60 days
STO mezzanine offering starts October 1
Revenue Participation Token shares 10% of gross sales with token
There are more updates in previous posts from ZPaul, CyberC, Grow and others. It would not surprise me to see multiple PR's coming out in the near future. Blocksafe, with customers having signed MOU's out of the gate, is going to be very big it seems.