Christian Bacher, Co-Founder & CEO at Jaroona, talks us through how blockchain will offer ‘profound and diverse’ benefits to our society and how those benefits need protection from malicious vendors. While his technology is forward looking, Bacher’s beer is more traditional, preferring to savour a European draft lager.
What does Jaroona do – what problem are you solving?
Blockchain hacks are increasing yearly, with $978,000,000 stolen in 2017 and $1,100,000,000 stolen within the first half of 2018. Currently, it’s speculated that there are 34,000 malicious vendors, offering everything from custom malware, to on-demand distributed-denial-of-service (DDoS) attacks to threaten our blockchains. Before the Jaroona Security Node (JSN), the blockchain communities answer to these threats would include costly, manual solutions subject to human error.
What is an ‘automated, distributed cybersecurity guardian’?
The JSN is a hardware device (computer, mobile phone, IoT) that analyses incoming events (network traffic, contracts, transactions and underlying blockchain code) to identify malicious behavior patterns, acting as a real-time alert system for traditional blockchain nodes.
Upon receiving a malicious alert, a traditional blockchain node will act according to its respective constitution/governance, meaning that the malicious action will either be frozen (put into quarantine) or left for white-hat hackers/development teams to action.
The JSN on the other hand, utilizes AI technology and deep learning networks to identify malicious attacks in real-time, whilst simultaneously implementing the optimal solution to prevent and secure the threat in question—completely removing the need for costly manual auditing and penetration tests.
Why use blockchain/Ethereum – what advantages does it give your solution?
Blockchain will benefit society in profound and diverse ways. By ensuring that value is correctly and safely exchanged between parties, blockchain technology will transform the industries that rely on centralized assurance mechanisms, acting as a powerful, transparent force against corruption.
We will have a range of craft beers available at the event – including a beer designed by artificial intelligence – What type of beer are you looking forward to sampling at the event (or if you don’t drink beer – what is your tipple of choice?)
I have a very traditional European beer taste and prefer draft lager beer
We also have a FinTECHTalents Spotify Playlist – Please tell us what song you would like to add.
Our very own Sweet Soul Chillout playlist.