MyShield : Decentralized Anti-Scam Platform
What is Myshield?
MyShield is trying to secure online transactions. With the help of anti-scam platform, it will be able to provide a secure ecosystem for most of the buyers as well as customers to conduct the transactions. Moreover, artificial intelligence will be used in order to detect the nature of the transactions.
In case, any of the factors point out to an unusual transaction, it will be ended and will be curtailed. As a result, only the legitimate transactions will be carried out on the system. Moreover, it will be a decentralized platform. As a result, it will be able to handle a high number of transactions without any issues. Currently, there is always the fear of hacking as well as data getting stolen when it comes to online transactions. However, with the help of this platform, there will be a thing of the past. There will be a multilayer security including encryption as well as decentralization which will ensure that the users do not have to worry about the theft of the data. Moreover, it can be easily adopted by various e-commerce websites which will ensure that the adoption is pretty quick as well.
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.
The platform will include:
- Custom application
- Custom blockchain
- AI-powered cyber Intelligence providers
- Enforcement services providers
- Guarantee providers
- MyShield bounties
- Custom trust stamp
To become a user of the MyShield platform, you need to install one of the platform applications:
- mobile application
- desktop application
- Browser extension
- The SDK for other apps
- Software (client)
- Or you can use the database using the MyShield website
It’s no secret that online users are vulnerable to many threats, especially when it comes to crypto transactions. MyShield created an alliance between all of its ecosystem participants, in a mission to fight online fraud.
Summary of the token model
As described above the MyShield token will have several uses in the MyShield ecosystem, as summarized herein:
- Premium subscription – the token will be used to get the premium subscription of the MyShield application which will include a basic level of guarantee and the ability to gain from the bounties in cases where the user reports on potential online scams.
- Guarantee programs – in addition to the basic guarantee program provided with the premium subscription, users will be able to use their Shields to buy additional guarantee programs for their online transactions.
- Reports – users that are interested to report the scam and be rewarded from the bounty will need to deposit Shields when they report. If they are found right, the deposit Shields will be returned to them in addition to their share in the bounty. If they are found incorrect, 80% of the Shields will be credited to the General bounty.
- Bounties – the MyShield token will be used by MyShield and by companies and organizations to encourage users to report on potential online scams. 20% of the Shields paid by users for the premium subscription will be contributed to the general bounty. Companies and organizations will be able to create brand-specific bounties to encourage scam reports related to their brand.
- Paying and validating the MyShield Trust StampTM and the MyShield Trusted Wallet StampTM – companies and organizations that will be interested to gin getting the MyShield Trust StampTM and the MyShield Trusted Wallet StampTM will pay for the stamp using the MyShield tokens. 50% of the MyShield tokens they pay will be paid to the public validation officers of their stamp, who can then use the tokens for premium subscriptions and guarantee programs.
- Subscription payment by companies and organizations to the BrandShield system – companies and organizations that are interested in subscribing to the BrandShield system and receiving anti-scam intelligence will be able to do so using the MyShield tokens. This use will be available at the time of the TGE.
- Payment to enforcers – companies that will use the marketplace of enforcement services as part of the MyShield platform, will be able to pay enforcers for their action, with the MyShield tokens.
Ecosystems are based on decentralized trust votes, trust consensus, technology-based trust analysis, and guarantees based on them. This is the pillar of value MyShield brings to the community – trust in online transactions.
THE TOKENS WILL BE DISTRIBUTED AS FOLLOWS:
- No. of tokens %
- Token offered for the public: 400,000,000 | 40%
- Fund for future operations: 300,000,000 | 30%
- Founders, team and shareholders: 200,000,000 | 20%
- Guarantee fund: 50,000,000 | 5%
- Reporting bounty: 45,000,000 | 4.5%
- Campaign bounty: 5,000,000 | 0.5%
- Total: 1,000,000,000 | 100%
MYSHIELD USE OF RAISED FUNDS
Subject => % from net funds raised
- User acquisition and marketing promotions => 30%
- R & D => 30%
- G & A => 25%
- Sales => 15%
MyShield Youtube :
For more information
- Website: https://www.myshield.com/
- Whitepaper: https://www.myshield.com/whitepaper/
- Ann Thread: https://bitcointalk.org/index.php?topic=3179901.msg32931789#msg32931789
- Twitter: https://twitter.com/MyShield_TM?lang=en
- Facebook: https://www.facebook.com/MyShieldTM/
- Reddit: https://www.reddit.com/r/MyShield_Official/
- Telegram: https://t.me/MyShield_TM