MyShield is an innovative decentralized anti-scam platform.
MyShield will alert users whenever they reach a fraudulent website, an online counterfeit sale, and other types of online scams.
MyShield is aiming to bring trust to the e-commerce and online market where the costs of counterfeiting and piracy is estimated to reach $2.81 trillion in 2022. At first, MyShield will focus on the cryptocurrency industry, which is flooded with phishing, fraud, brandjacking, etc.
MyShield will provide users alerts against scams and Crypto-transaction validations. The MyShield model is based on two sources of intelligence – reports on potential scam by users of MyShield shared with the community, and providers of AI powered cyber-intelligence. The information from both sources will be recorded on the MyShield blockchain, which will be launched on an existing blockchain and will be used as the source for the alerts and validations.
The MyShield decentralized platform includes bounties created by MyShield and by companies, organizations and users in order to incentivize members of the community to report potential scams. The MyShield token, is a “Token of Trust”. It provides users with a guarantee for their transactions made on online websites being marked as trusted by MyShield, after a community consensus is reached.
The MyShield platform will bring together different stakeholders into one ecosystem –these stakeholders include users, companies, AI-powered cyber intelligence providers, guarantee providers and enforcement services providers. The MyShield platform will leverage the robust technology of BrandShield, for monitoring the Internet and analyzing the potential risk of different online threats. BrandShield's technology is currently being used by top global brands to protect them from online scams. BrandShield will be the first, of potentially many, providers of AI powered cyber intelligence to the MyShield platform.