Blockchain and cryptocurrencies have wrestled with one pervasive issue since the dawn of the industry: scams. Figuring out how to spot a real cryptocurrency site among those that are phishing or otherwise trying to access your personal information can be hard. It’s a topic on everyone’s lips as Cyber Week begins in Tel Aviv.
MyShield is designed to protect its partners and their users and combines AI with community feedback to give cryptocurrency users greater confidence. Interestingly, the platform offers incentives for marking suspicious activities, in addition to a money-back guarantee for premium users, thus providing insurance for online purchases.
So how much of the solution is AI-driven, and how much relies on human reporting of issues?
“Users of MyShield will get an initial notification based on the AI, even if there are no human reports yet,” CEO Yoav Keren told me. “If a user creates a report, and the website or social media page has still not been analyzed by the AI, an initial notification based on the user’s reports will be provided.”
Importantly, MyShield won’t just respond to a single user’s feedback. After all, it might be that a user is marking a perfectly good site as a scam either by mistake or to gain a competitive advantage.
“A certain website, social media page or post, marketplace listing, etc. will be determined as a scam only after there is a…