DigitalX made advisor of world first blockchain & AI ecosystem
DigitalX Ltd (ASX:DCC) has been appointed corporate advisor to the world’s largest private Software as a Service (SaaS) email security company, MailGuard.
With the help of DCC’s advisory services, MailGuard will develop a world first blockchain cybersecurity ecosystem called GlobalGuard, which combines Artificial Intelligence (AI) and blockchain technology to identify emerging email-borne cyber threats.
The Melbourne-based MailGuard is a cloud email and cyber security company that services clients in 27 countries which has partnerships with high profile software providers including Microsoft. The AI algorithm used in the GlobalGuard system has been developed by MailGuard in collaboration with Deakin University in Melbourne.
“GlobalGuard will unite end-users, technology partners, cybercrime experts and vendors throughout the world on a living neural network, to identify and stop threats immediately. It is the next generation of cybersecurity and threat detection,” DigitalX CEO Leigh Travers said.
MailGuard CEO Craig McDonald added: “GlobalGuard will leverage the past seventeen years of MailGuard threat data and IP, in combination with an artificially intelligent neural network, trained to detect cybersecurity threats.
“The world’s largest companies and governments cannot win the war on cybercrime by acting alone. GlobalGuard will be the mechanism for real-time collaboration on the Blockchain to correct the imbalance of online cybercriminals,” Mr McDonald said.
Spending on cybersecurity products and services the world over is predicted to exceed $1 trillion by the year 2021, according to a report by Cybersecurity Ventures.
The collaboration announced today between MailGuard and DCC will be a significant step towards commercialising the GlobalGuard technology.
“Blockchain technology and AI is the new frontier in the fight against cybercrime. DigitalX is pleased to be involved with this project as GlobalGuard will connect a network of collaborators to identify and thwart cyber threats instantaneously,” Mr Travers said.
“DigitalX continues to strengthen our reputation for ICO advisory services and is now working with the world’s most promising Blockchain companies to help them deliver their vision.”
However, it’s worth noting that DCC is speculative at this stage and therefore investors should take all publicly available information into account and seek professional financial advice.
The GlobalGuard cybersecurity ecosystem is set to launch later in the year. Information in the lead up to the launch can be found at globalguard.io.
Today’s news follows on from DCC’s announcement earlier in the month, that it had been appointed corporate advisor for Shivom and Bankorus — both finalists in the Global Blockchain Competition.