Recently, MailGuard, Melbourne-based cybersecurity and cloud email firm, revealed its ongoing plans to create the first ever Blockchain and AI network in a bid to ward off cyber attacks.
The network, dubbed GlobalGuard, will utilize the two technologies to spot emerging email-related attacks.
The move by MailGuard intends to avert the risks posed to businesses by the vast and increasing volumes of digital content shared via social media and email including malware attacks, harmless phishing, and business-crippling hacks.
Considering that Radicati’s market research found that nearly 205 billion emails are shared (sent and received) daily, such threats are imminent.
MailGuard not only serves customers in 27 nations globally but also works together with tech giant companies such as Microsoft.
Currently, the company has collaborated with Deakin University in Australia, Melbourne to develop the new cybersecurity network. What’s more, MailGuard is also partnering with DigitalX, whereby the Perth-based blockchain expert will offer corporate advisory services.
The partnership between MailGuard and DigitalX serves as another addition to DigitalX’s line-up of clients who are willing to push forward their blockchain-related projects.
Leigh Travers, DigitalX’s CEO, said that GlobalGuard would unite cybercrime experts and vendors, technology partners and end-users across the globe on a single living neural network aimed at identifying and stopping threats instantly.
As such, he termed the network as the next generation of threat detection and cybersecurity.
According to Mr. Travers, AI and blockchain technology represent a new frontier in the current fight against cybercrime. He added that GlobalGuard would link up a network of collaborators to recognize and prevent cyber-attacks promptly.
MailGuard, founded in 2001, has gradually developed into one of the largest private Software as a Service (SaaS) security entities in the world.
GlobalGuard will utilize 17 years of MailGuard’s threat data coupled up with an AI neural network in its fight against cybercrime.
Its partnership with DigitalX acts as a major move towards commercializing GlobalGuard. The network could be a major commercial hit, looking at the increasing cybercrime rates globally.
The CEO of MailGuard, Craig McDonald, said that GlobalGuard would serve as the mechanism for real-time partnership on the blockchain in an attempt to correct cybercriminals’ imbalances.
According to him, governments and the leading companies alone cannot win the war on cybercrime.
Also, Craig MacDonald is known for writing a book, Surviving the Rise of Cybercrime in 2016, in which he elaborated why cybercrime is the largest risk factor challenging businesses in the modern era.
As cybercrime increasingly becomes a cause for concern for many businesses, MailGuard and DigitalX are expected to complete developing GlobalGuard and reveal a launch date in the course of this year.
Once the project is complete, DigitalX will be one of the major beneficiaries, primarily due to the advisory payments from MailGuard.
In the close of the second half of 2017, the company generated $8 million in net profit, and it hopes to surpass its performance on a year-on-year basis through adding more customers to its books.
In fact, the news of the DigitalX’s partnership with MailGuard cause its shares to rise by 4% and are currently trading at $0.24 per share.