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Decentralized IT Security Marketplace - PolySwarm Raising $50

Million (Rs. 325 Crore) Through Public Token Sale

(Attn.editors: The following press release comes to you under an arrangement with PRNewswire. PTI takes no editorial responsibility for the same).

Decentralized IT Security Marketplace - PolySwarm Raising $50 Million (Rs. 325 Crore) Through Public Token Sale

MUMBAI, March 19, 2018/PRNewswire/ -- Token Sale Ends on 22nd March

Decentralized IT security marketplace PolySwarm is raising growth capital of $50 million (Rs.325 crore) via its on-going public token sale which is open until 22nd March, 2018. PolySwarm successfully closed its private pre-sale for its Nectar (NCT) token recently, raising an initial $15 million in funding from backers including Science Blockchain.

Today's antivirus and IT security market is dominated by single vendor offerings that often miss emerging threats. PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry. This provides enterprises and consumers with unprecedented speed and accuracy in threat detection. By introducing a platform encouraging innovation and competition, the market will reward the experts who are best able to protect users.

The PolySwarm market runs on Nectar, an ERC20-compatible utility token that makes it easy to submit and classify potential threats on the PolySwarm market. The idea is to create software 'micro engines' that will compete to identify threats and outperform their competitors. It is a business model which will favour the survival of the fittest, rewarding consumers and the best developers equally.

"Support from early backers demonstrates great interest in what we're building at PolySwarm, and we're excited to engage the information security and blockchain communities through our public token sale," said Steve Bassi, CEO at PolySwarm.

PolySwarm's founders built the company out of Narf Industries, LLC, an information security firm that recently completed a blockchain-based identity management project for the Department of Homeland Security, as well as cutting-edge information security projects for DARPA. PolySwarm's advisory board includes former McAfee CIO Mark Tonnesen, alongside renowned information security experts Dan Guido, Chris Eagle, Dr. Sergey Bratus and Carl Hoffman.

About PolySwarm:

PolySwarm is the first decentralized marketplace allowing security experts to build anti-malware engines that compete to protect consumers. PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry, providing enterprises and consumers with unprecedented speed and accuracy in threat detection. The PolySwarm market runs on Nectar (NCT), an ERC20-compatible utility token.

For further information on PolySwarm & its Public Token Sale please visit https://polyswarm.io.

For Media co-ordination please contact: +91-9820545985.

Media Contact: Sahil Bhagwat sahil@thesoundrelations.com +91-9820545985 Sr Executive - Media Co-ordination ARA Communications Pvt Ltd

Source: PolySwarm PRNewswire OSS

Disclaimer: This story has not been edited by BW staff and is auto-generated from a syndicated feed.


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