What Is SharkGate?

Sharkgate is a UK company that specializes in website security. The company wants to be the first to create a cyber-security solution powered by the blockchain. This solution will specifically ensure that sites are insulated from hackers. Right now, if a site has yet to be hacked, there is a good chance that it will be hacked in future.

Right now, governments gather threat intelligence data globally. However, this information is stored and not shared with the masses. However, when hackers discover a security flaw, they find forums where they share the data. This kind of system dooms sites to chase after hackers to try to keep up with them.

Thousands of small businesses each year lose money and shut down due to these threats. The Sharkgate solution will entail the sharing of security data, AI, and the blockchain to ensure better protection. Besides that, this model will incentivize businesses using tokenomics to get them to participate.

This project will entail a one-click plugin that will offer protection to websites 24/7. It will help the team meet their key mission of eliminating adoption barriers. This project aims to create a community approach to fighting cybercrime.

The SharkGate ecosystem is powered by the SHKG token; it will become a new standard that it utilized in the cyber security industry. By being part of this project, participants will be taking power back from the hackers. They will also be shifting power from large corporations who horde security data and giving it to the billions whose sites are hacked.

In 2016, half of all small businesses had their sites hacked in the US. This trend continued in 2017 where cybercrime was the second most reported crime in the US. Most of the hacks were traced back to ransomware.

The report also showed that about 80% of the exploits managed to evade all the existing antivirus solutions. This threat may reduce but it may do so because of under-reporting. On average, a business will take 197 days to detect a security breach. If the business is small enough, it might even take them years to realize they were hacked. The huge amount of money to be made from hacking encourages hackers to invest time and resources to hack sites.

Despite this issue, there is no incentive to share data on hacks for better protection. With this project, big data learning and AI will be used to ensure hacks are detected early. Besides that, users will benefit from sharing data via the tokens. The cost of hacking is quite huge. In fact, it is expected to hit $2.1 trillion by 2019.

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