While I like the idea of BrandShield's AI powered cyber-intelligence technology, I am wondering, why did the team choose to include users reports on potential scams? Online reviews, reports, ratings, etc. are always subject to manipulation (being paid, internal endorsements, emotions and perceptions of the project, etc.). What guarantees the 'honesty' of the reports provided by the community?
Hi FlamingFingers! That is a good question. Coming from the team’s experience, online scams are sophisticated and continuously evolving to the level that only a combined effort of technology and community participation can be trusted.
There are security measures that MyShield will implement against bots or abusive users (ie taking advantage of the bounty reward or giving a false negative report against a company) and to ensure that only eligible and honest reports will be submitted. To prevent spam, there’s a method, similar to the Hashcash proof of work concept, that will demand a MyShield amount to be paid by the user before he can submit a report. Once his report is proven true via a consensus among the users in the blockchain, then his deposit will be returned to him and he will be further eligible to the reporting bounty reward that will be distributed.
This is a good opportunity and timing for the launch of MyShield. Good job to the team for coming up with a solution such as this to help our thriving crypto market.
