Starry: Now, let’s welcome Shawn Key, CEO of CYBR, to join our community and sharing more info about CYBR project.
Shawn Key: Greetings all! Looking forward to the AMA with you! We are VERY excited to discuss CYBR with you today and wish to thank OceanEx for the opportunity to list on their prestigious exchange!
Starry: I feel the excitement among our community about CYBR, would you please give a brief introduction of CYBR project!
Shawn Key: CYBR is a holistic CYBR security project. We are here to ensure that hackers do not continue to steal millions of dollars in funding from investors, excahnges and the infrastructure in between. We do this in many unique ways that separate us from other projects! We will discuss these unique solutions in this AMA!
Starry: Thanks for your introduction. To help community better understand the project, i prepared a few questions. Let’s go through them first then deep dive into community’s question list: Would you please elaborate on CYBR. What does it do? What problems does your project try to resolve? And what is your team structure?
Shawn Key: CYBR incorporates an ecosystem of products and services that protect devices such as laptops and phones from the malicious code and bad actors that seek to exploit vulnerabilities in the crypto infrastructure. We scan, we inform, we monitor and we aggregate emerging threats from all over the world via proprietary and partner solutions and intel gathering platforms that other solutions do not have access to. We have a technical team in the US and abroad, partners and integrators like IBM and Security Scorecard and a marketing team in the US and Madrid. We have existing contracts in the Middle East, Asia Europe and elsewhere! We also have great advisors like Dick Marcinko, the founder of Seal Team 6. We do a LOT of work with the Intel and DoD community.
Starry: Hacking and Internet-based crime are always the most concerns of crypto organizations. Over $1B in financial losses occurred in the cryptocurrency space in 2018, so how does CYBR ensure the blockchain industry’s security?
Shawn Key: So this is a good question. CYBR’s technologies are incredibly scalable and are meant to address ANY device in ANY O/S. Because we use proprietary algorithms that incorporate fuzzy logic, machine learning and AI, we are able to identify exact AND partial matches of emerging threats. Summarized, we stay one step of the hackers by using mostly signature-less based technology that identify and remediate malicious files and associated bad actor activity that other countermeasures and safeguards miss.
Starry: Cool, in traditional cybersecurity, the term GRC is a buzz, how does CYBR do Governance, Risk Management and Compliance (GRC)?
Shawn Key: Solutions are driven by standards such as NIST framework, FIPS, ISO and others. GRC requires strict policy, procedures, processes and tools and techniques and we are entrenched within the US Federal landscape and apply these items to our blockchain and commercial solutions. Best of breed tech and services if you will!
Starry: As mentioned in your whitepaper, CYBRSCAN and BLINDSPOT are the underlying solution based on CYBR ecosystem. What are they and how do they work?
Shawn Key: Blindspot is the endpoint technology which will create a 24/7 security solution for INTERNAL threats. CYBRscan is the product which looks at external threats and advanced persistent threats that can penetrate a device and exploit it. BlindSpot incorporates proprietary algorithms that see malicious code that changes (i.e. zero day and ransomware) and that is usually missed by other solutions like A/V and malware scanners. It has already won several awards for best disruptive technology (i.e. Dell Founders 50)! Hand in hand…these solutions create a virtual security operations center (SOC), something previously unavailable to the average user because of cost and needed resources.
Starry: What difference between CYBRSCAN and BLINDSPOT? BLINDSPOT is referred to “see through the polymorphic camouflage”, so what is the advantage of BLINDSPOT?
Shawn Key: Again, CYBRscan is more focused on external threats whereas BlindSpot looks at the inner workings of a systen and it’s inherent flaws (i.e. patches, OS, registry, etc.).
Starry: Now let’s get into CYBR tokenomics. What is CYBR’s Token Economy and road map?
Shawn Key: The CYBR token is necessary to access our solutions. It is required. Conversely, CYBR rewards the community for sharing emerging threat intelligence so tokens can be used as outlay. The tokens are truly utility tokens and to access the utilities we offer (CYBRscan, MISP, TIP, etc.) tokens must be possessed. This also reduces supply which is good for the token economics of the project as well! Circ. supply is currently less than 15M and millions of those tokens are locked for another 11 months. Mint supply is 560M with total supply of 1B. CYBR burns tokens equal to the amount of a fiat sale as well. So for example, if we sell an enterprise solution to a large federal client for fiat, we burn that amount so the token supply drops. This is key to ensuring supply never outweighs demand and that token holders are rewarded for ALL sales generated by CYBR. Currently we have over $6M in task orders and $35M in 4Q pipeline! That’s a lot of revenue for a company like ourse just beginning to creack the total vailable market of the cyber security/blockchain vertical.
Starry: What other applications will CYBR tokens have in the future? How will the team continue to empower CYBR? Could you give us a sneak peak on some institutions that are on your cooperation list?
Shawn Key: CYBR does what any company must do. We create world class products that equate to sales. Sales equals revenue and revenue equals profit. Profit creates RoI for the company and this should create RoI for the stakeholders and participants. These are basic fundamentals of any successful business. Sadly it’s not common yet for many crypto projects. Another reason we believe we are so special in this space. And we are expanding. CYBR has just announced it has expanded operations to Madrid, Spain. We have a whole new territory to expand in. These European operations will be headed by Pedro Herranz, a superstar in marketing and sales. Our focus now is visibility and growth. It’s a great place to be in roadmap wise!
And of course we will expand our government and commercial outreach here int he US and other regions where we currently have past performance, with a HUGE focus on Asia!
Starry: Next are some questions of great concern to the community. Whether CYBR will continue to release positive news in the future? Apart from OceanEx, will you have CYBR tokens to be listed on other exchanges?
Shawn Key: While it is conceivable CYBR may list elsewhere in the future, our focus isn’t about just “exchange hopping”. We are about revenue. Profit. RoI for the company and stakeholders. Exchanges should provide visibility into a new project. It is not just about token price increases. We are here for the long haul. We think 95% or more of other crypto projects will be gone in a year or so. And it will be because they failed to address a real world problem and create VALUE for the vertical. If crypto went away tomorrow we would still be a profitable company. Of course we don’t think that will happen! The point is, our fundamentals are SOUND. And this separates us from much of the “competition”! Here’s some “breaking news” that will serve as an example of what CYBR will continue to ANN in the future!
We’re an incredibly SERIOUS company. I want everyone to understand this! And we take our community and stakeholders interests VERY seriously!
Starry: Awesome! Congrats to Pedro and the team. We hope see more collaboration between CYBR and OceanEx in Europe market too.
Shawn Key: Of course!!! We look forward to it greatly. We are just getting started!
Starry: Cool, and that’s all my questions. Appreciate all community members’ questions. We have pre collected some from community.
Shawn Key: Please allow me to share one product report example. I’d like the community to see the end result of one of our solutions…
This is the kind of info we collect and when we scan a system or device, this is an example of the results which can be obtained. Reports go into much more tech detail, but we reserve that for our clients and respect their discretion. Thanks Starry…great questions by the way!
Starry: Sure thing, the first question sounds like from Vechain community.
What role will CYBR play in Vechain’s ecosystem, will it partner with multiple projects?
Shawn Key: CYBR’s platform is designed to be heterogeneous and can support multiple ecosystems and blockchains. We’ve already done work on the TOMO chain and I expect that we will continue to evaluate other projects and integrate where it makes the most sense!
Starry: Thank you. What makes your project different and potentially successful respect to other blockchain token?
Shawn Key: The technology is incredibly advanced and has won awards such as the Dell Founders 50. Tandem NSI, Mach37 and others. The company already has enterprise sales and task orders totaling over $6M. Our revenue pipeline for 4Q is over $35M. Where other projects are still in their “conceptual” phases, we are selling what we’ve built and adding customers and partners globally.
Starry: Hi Cybr CEO, Just like to say, really loving the look of CYBR and what you guys are doing, I have noticed reports recently about many healthcare machinery hacks, ie mri & X-ray scanners etc, Would Cybr’s products be able to help combat this and is it something you would look into?
Shawn Key: GREAT question. One of CYBR’s clients is bioMerieux, a French based but global medical firm. We have been assessing and monitoring critical medical devices like kidney dialysis and life support systems and other IP based machines that in a horrible scenario could be hacked and taken over (i.e. for ransom). We’re already doing the very things you are alluding to! Great question. Thanks for asking and for the kind comments about the project!
Starry: How does Cybr compare with other products in the same market?
Shawn Key: Competition is healthy. It justifies a market. But we definitely separate ourselves from the pack. Why? Working products. Revenue now. World class partners like IBM, General Dynamics, HP and more. We’re real and the things that most other projects HOPE to accomplish, we have done so and now are just focused on growth and expansion!
Starry: I like this one. What is the biggest obstacle of CYBR? What did you guys do to overcome that obstacle?
Shawn Key: Scams. Plain and simple. Bogus exchanges and listing directors and so many dishonest people in this space. There is a huge lack of integrity and often even when the intent is pure, the “professionals” giving advice are so incompetent. Another reason we are so thankful to be listing with OceanEx is their integrity and ethical values. It matches our beliefs and therefore is a stellar match!
Starry: What do you think of the threat of Quantum Computing for blockchains? Is that something that CYBR is looking into?
Shawn Key: Wow…another super question. Quantum is potentially the next wave. I don’t think it’s a “blockchain killer” but it is something to be watched for sure. Superposition is an evolving concept and will be used in the future. It too will have cyber security challenges (perhaps that need to be addressed faster than blockchain needs). CYBR works with IBM and other “advanced technology” partners so we see amazing and emerging tech all the time. CYBR will be there to deliver adaptive solutions should the market mature!
Starry: Who is CYBR’s leading competitor? What is the highlight of the project to outpace its top competitors?
Shawn Key: I think the ones to watch are Chainalysis and IBM. The latter we’ve partnered with. Chain does some interesting things and they focus more on attestation. I don’t view them as a total competitor though as we do things such as fuzzy logic pattern matching and heuristics that they don’t. I will say they tried to poach one of our board members away recently (he declined) so I think they may view us as a threat! ;) There is a need for multiple solutions and the cyber security blockchain vertical is growing. There will be a gorilla in the marketplace of course and we intend for that to be CYBR. But there is plenty of room for collaboration for sure!
Starry: Currently, many high-end hacks and countless cases of personal wallets are compromised, security is always a top concern. So, what measures does CYBR take to protect security and privacy?
Shawn Key: Can you imagine if CYBR’s platform was hacked? What an embarrassment that would be! CYBR implements a Defense in Depth approach at nearly every level. Because of our federal connections, we have to be NIST and FIPS compliant (along with many other standards). I was responsible years ago for designing the IRS-SDT2 architecture which ensured data at rest and in motion was not compromised for the entire US stakeholder and client base of the IRS. We’ve applied some of that technology here along with other best practices and technologies. We continue to monitor our own platforms and interconnections so we can stay one step ahead of the hackers and bad actors! It’s a constant battle as you can imagine!
Starry: In the future, what is the main goal of CYBR? What does CYBR do to raise the value of the CYBR token?
Shawn Key: The question everyone wants to know! LOL. CYBR does what any company must do to succeed. Token economics SHOULD have the same underlying success metrics as the “traditional” equity based world. Sadly it doesn’t yet. We are trying to change this. We create world class products that equate to sales. Sales equals revenue and revenue equals profit. Profit creates RoI for the company and this should create RoI for the stakeholders and participants. These are basic fundamentals of any successful business. Sadly it’s not common yet for many crypto projects. Another reason we believe we are so special in this space. If a project doesn’t have the financial (revenue) and solutions (prodyct/serviceS) fundamentals in place, how can they succeed and how can an investor expect to see a return?
Starry: Last question of today!
What is CYBR token? What purpose does it have? What are the benefits and benefits of the project for users of CYBR holders?
Shawn Key: For the crypto and blockchain community, the CYBR token is necessary to access our solutions. It is required. Tokens are held by CYBR community members and in return, they get access our product solutions, itel sharing platform (MISP) and the Threat Intel Platform (TIP). It’s a well thought out utility and of course a TRUE utility should require a utility token. Conversely, CYBR rewards the community for sharing emerging threat intelligence so tokens can be used as outlay. The tokens are truly utility tokens and to access the utilities we offer (CYBRscan, MISP, TIP, etc.) tokens must be possessed. This also reduces supply which is good for the token economics of the project as well!
Summarized, CYBR is a project where tokenizaiton makes perfect sense. We didn’t just “tokenize” because blockchain seemed “hot”. It creates an affordable security solutions suite for a vertical that truly needs our solutions!
Starry: Thanks Shawn Key for the comprehensive introduction and deep dives!!
Shawn Key: THANK YOU and everyone for your time here today! I hope this was helpful!
Starry: And thanks for all the questions guys! OceanTalk — CYBR Special is over, appreciate the folks who stayed all the way.
Shawn Key: Cheers all! Learn more at cybrtoken.io.