Tim Draper Invests in Blockchain Cybersecurity Service Naoris Protocol
Billionaire venture capitalist Tim Draper’s Draper Associates, along with other notable technology investors including Holt Xchange, Holdun Family Office, Holdun Opportunity Fund, Brendan Holt Dunn, Level One Robotics, SDC Management, Uniera, Expert Dojo and several other angel investors have invested a cumulative $11.5 million in blockchain-based cybersecurity solution Naoris Protocol.
The Naoris protocol builds a new cybersecurity network by leveraging blockchain technology. It uses AI-based risk management and a mesh-based decentralized validator structure to give individuals and businesses total control over their data and digital security. Due to its unique blockchain-powered CyberSecurity Mesh HyperStructure, Naoris Protocol turns every participating network device into a trusted validator node.
Per Tim Draper, “Naoris Protocol creates a unique distributed cybersecurity solution. The team at Naoris sees a tremendous market opportunity in cybersecurity, and we at Draper Associates are thrilled to be a part of their journey.”
The Naoris Protocol is expected to go live with its minimum viable product by the end of 2022. The Naoris team expects to roll out the full product to customers from several Web2 industries, including banks, civil infrastructure, state and national organizations, and healthcare companies, by mid- 2023.
CEO of Naoris Protocol, David Carvalho, adds: “Our vision is to harness the cryptographic power of the many through blockchain to fundamentally change how trust happens between devices and applications on the Internet, from individual users to enterprises and critical areas, by creating a machine economy backed cybersecurity enforcement protocol that is unstoppable, permissionless and credibly neutral.”
The decentralized cyber security infrastructure
By design, traditional cyber security models are ill-equipped to mitigate the ever-evolving cyber threats. The Web2 ecosystem relies heavily on centralized security models, resulting in end users losing control over their personal data. Also, multiple devices connecting to a centrally secured network, especially in today’s hybrid and remote-first work culture, has led to many “insecure” endpoints.
The Naoris protocol, in turn, revolutionizes how traditional cyber security solutions approach the concept of security. Instead of having a network of individually operating, siled devices that are the gateway to a single point of failure, Naoris uses the dPoSec (Distributed Proof of Security) consensus mechanism to enable basic security and double up as a fully decentralized trust framework.
The DPoSec mechanism also facilitates Naoris’ CyberSecurity Mesh HyperStructure to provide an interoperable and scalable identity-based security so that all assets fall under the same integrated security structure, regardless of location.
Put another way, Naoris Protocol’s cybersecurity solutions can reduce existing security vulnerabilities for individuals and organizations, especially for remote and decentralized companies. With its decentralized CyberSecurity Mesh HyperStructure, Naori eliminates threats across every device (endpoint) while maintaining a Zero-Trust architecture.
That said, the Naoris protocol is not formulated to compete with existing solutions. Instead, it is built to supplement existing cybersecurity solutions by discovering and validating information using AI (artificial intelligence) and a network of peer-to-peer connected decentralized validator nodes. The underlying HyperStructure network can detect security breaches within minutes and reportedly save up to 90% of the value lost in individual cyber security incidents.
Mediation
