Uncloak ICO Review - Cyber Security Threat Management Integrated with Artificial Intelligence

Introduction

According to a recent survey, there are 2 billion social media users worldwide. These people download, upload and post everything including personal information to these social media sites. These people might not think of it as urgent or alarming but these social media platforms are prone to hacking or cybersecurity threats or attacks. Their personal information may be used in legal or illegal means which may eventually cause them harm. This is the case, not only for social media users but for everything that can be connected to the internet. Since the internet is still in its infancy, no antivirus or anti-hacking protection have been invented yet that will render any website or account truly secure.

In order to address this problem, a team from Estonia has taken up the challenge to create a system of cyber security solution which will be available not only to the big market players but also to the small-medium sized market players. This solution is called Uncloak.

 

What is Uncloak?

Uncloak is a blockchain integrated cybersecurity solution that aims to harness the knowledge and expertise from the worldwide web community and fight together cybersecurity threats or attacks. Using Artificial Intelligence (AI) to build its own cybersecurity threat detection database, Uncloak will scout the internet to unravel immediate or future threats, turn it into unique security signatures and notify its clients so that they can deploy solutions where it is needed.

 

How does it work?

 

 

The diagram above shows how Uncloak aims to lead the market in cybersecurity detection and solution.

1. Uncloak scans client computers for threats and other vulnerabilities using its threat detection database
2. If Uncloak has detected a threat, the client will then be immediately notified for necessary actions to be taken.
3. After the client has been notified, hunters, made up of cyber security experts, will be given a list of software/hardware to check for cyber threats.
4. Cyber threats found by the hunters are then checked against Uncloak threat detection database.
5. Threats detected by hunters are validated by a random set of validators who can either accept or decline their work.
6. If a hunter’s work is accepted, he/she along with the validators will receive a reward in the form of UCC or Uncloak tokens.

The good thing about the Uncloak solution is that it has developed a Bug Bounty Program which is a way of determining whether the threats detected are legit or new threats or just an old threat that can be easily remedied. This is to make sure that the Uncloak threat detection database is continually updated with new cyber threats that may threaten its patrons.

 

Uncloak Userbase

As I’ve mentioned earlier, the Uncloak cybersecurity solution is applicable not only to large-scale businesses but also to small-medium sized market players. Listed below are the target user bases of the Uncloak cyber security solution.

• Companies that need an expert unbiased approach to IT Security solutions, and who know that the current generic market vendors will not work for customers who require support for unique and/or legacy systems in the conduct of their business
• An in-situ evolved infrastructure needs restructuring to improve IT Security usually as part of IT transformation program
• The level/capability of the internal IT resource cannot provide the required high quality of service or needs supporting to do so
• The business is at risk and in need of ISO, GDPR, FCA, SRA compliance requirements

 

Uncloak ICO

Uncloak has introduced two kinds of tokens inherent to their platform. These tokens are:

1. UNC tokens – this is an ERC20 standards-based token from the Ethereum blockchain that can be externally trade-able in any exchanges
2. UCC tokens – these are EOS format-based tokens awarded to hunters and validators who do work inside the platform. These tokens have to be converted to UNC tokens in order to be traded in external exchanges.

Uncloak will be conducting an Initial Coin Offering (ICO) of the UNC tokens in order to raise funds for the development of the project. The team is aiming for a soft cap of $6 million USD and a hard cap of $21 million USD. The main sale will begin on June 26^th and will end on 3^rd of July of this year. Each UNC token will have a value of $0.01USD. Accepted payment for the tokens will only be in the form of Ethereum (ETH). < style="text-decoration: underline;">All unsold tokens at the end of the ICO will be burned and no new tokens will be created order to support the demand for the tokens in the future.

The UNC token will have a fixed total supply of 4.2 billion with 50% of the tokens amounting to 2.1 billion allocated for the token sale. The remaining 50% of the token supply are distributed as follows:

• 15% for early backers, equity investors and advisors
• 15% for the founding team which will have a lockup period of 18 months
• 10% for the developer fund
• 10% retained by Uncloak

 

Team

Uncloak is an Estonia-based company, Estonia being one of the first countries to adapt to blockchain technology as a form of transmitting payments.

Uncloak was founded by Tayo Dada and Nicholas Topham, both serving the company as the CEO and COO respectively. They both have unparalleled experiences in the fields of Information Technology including software development, the Internet, data centers and more. Together with the CTO, Phil Jackson who also has over 22 years of experience in cyber security applications, they lead the Uncloak team in actualizing their vision of being a market leader in cyber security solutions.

Among the members of the Uncloak team includes an AI expert, blockchain and software developers, cybersecurity consultants, operations and community managers in addition to their set of equally talented and renounced advisors who have contributed to the most successful IT companies in the world.

 

Roadmap

 

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