Published 25 May by Cryptodiffer Team

Ian:

Uncloak was one of the contestants at my world tour event back in London and they won. This is in no way shape or form a pay-per-view or paid AMA this is just organic, and you guys are just really good project, now that being said, I personally will not be investing in this project right at this point in time.

Ian: What is Uncloak?

Tayo:

Uncloak is to unveil or to take off. So it is really about allowing companies, and organizations no matter what size they are, to have the ability to have the same types of cybersecurity defenses that even government have. We aim to expose where all the vulnerabilities are and we also look at threats. There's a big difference between vulnerability and threat. The vulnerability is something that`s you can actually see as a weakness in your computer system so for example if you had a hole in your roof that is a vulnerability, a threat is, for example, rain, now, the rain isn't dangerous unless it gets to that hole in a roof. The aim for us is to make sure that we can tell you about these issues and security threats before they even get to your machines which is pretty much revolutionary.


Ian: Can you explain Uncloak in two sentences?

Tayo:

Uncloak is literally a blockchain powered cyber threat detection system. Our aim is to highlight and tell you exactly where your weaknesses are in your computers.


Ian:

You can say Uncloak is Norton or McAfee Antivirus for the Blockchain?

Tayo:

Oh, well, no. It goes further than that. I mean you've got things like Sentinel and Polyswarm that are really in that space but that's not really us. I mean we're really about infrastructure. So we look at not just blockchain, but we look at computers and offices, firewalls all the devices that connect to the internet.


Ian: How do you personally get involved in the blockchain space?

Tayo:

About five years ago, I've been running the cybersecurity firm for a number of years in the UK. And we had a client that we told him to get some you know protection and emissions and he decided not to pay for it. What happened, they had some software which was installed in a machine that told you to go to a website link to get access to your files, you won't be able to open them unless you paid a certain amount which was in Bitcoin. I thought this is amazing, what is this whole Blockchain thing about. I remember one of my first investments was Bread. And I thought this is the way it needs to be.


Ian:

Can you kind of walk us through your experience pitching at my Crypto World Tour event?

Tayo:

I've been to a number of blockchain events and I've you know sometimes they spend all this money on and on you know the presentation and how it looks and the lights and stuff, but then sometimes the content is really poor. When we came in on to your event in London it was amazing.


Ian: How is post pitch process? How is Ian Balina effect?

Tayo:

You know we had hit I mean X number of times, I mean literally, I would say a good twenty times.


Ian: You guys are building on EOS, that's one of the things that kind of stood out?

Tayo:

I'm an absolute fan of EOS. I'm a geek myself. I've been in tech since I was the age of nine. Obviously, we know about Bitcoin and Ethereum have scaling issues, but EOS is just something else. It's something that becomes more powerful the more nodes join to actual blockchain itself. What's amazing about EOS compared to a lot of the other blockchains is a fact that you can actually physically install your application diary on a blockchain. That's the reason why they say that they're the first true blockchain, because we are writing our code that is able to be ported directly to EOS.


Ian: You think that EOS is going to replace Ethereum?

Tayo:

I'm gonna be a bit diplomatic here, there is a place for everything. Can we launch a crowd sale right now on the EOS? - it would have been very very difficult because the adoption is not there. EOS is to me how the blockchain is really need to be especially with engagement and great people behind them.


Ian:

Can you tell us about your token sale?

Tayo:

We've been in private sale for last two to three weeks, we've pushed our sale back because the market was extremely bearish, our pre-sale is kicking off on May 25th at 8 a.m. this Friday so there's still time for you to register. Our presale kicks off there and will run for a period of a month to 26th of June and then from the 26th of June to the 3rd of July we will have our crowd sale.


Ian:

What are the token metrics?

Tayo:

There's a lock-up period for private sale. We have up to 5% bonus structure within the pre-sale event and we really want to make sure we get a very diverse audience.


Ian:

How is Uncloak different from Sentinel Protocol and all this other ICOs that has been trying to focus on security?

Tayo:

Let`s take Sentinel for example. So Sentinel is really geared towards finding issues with smart contracts. Polyswarm, they more of a decentralized antivirus system.

What's different about uncloak is first thing is we are a full ecosystem. We are an infrastructure application, we're concerned about telling you where your issues are today across the whole framework of your business.Facebook has made an employee bug bounty company which will charge tens of thousands of dollars for them to perform these types of check. That takes out 96% of the businesses, that can't afford to have the bug bounty facility. We're looking to clean up that 96% and say, okay, look we will make some security easy for you to understand, so you can engage with us. We have an AI piece which none of the other guys have got. We have an AI piece and at moment it is able to go into the public Internet and a dark web and tell you about issues. Recently, we've had the issue with Wanna Cry. It hit the NHS which is a national health system in the UK extremely hard and a huge bunch of businesses. This came from a government file that made its way into the dark web and from a dark web it has got modified and sold into the dark web for some Bitcoin and it starts to spread its way around the Internet. Our aim is to make sure that we can get in by the time it leaves us with whoever leaked that information. We're in a dark web listening on so many different channels and finding out what types of issues are coming out and then not you find that our clients and saying you know what funny enough there's a new issue coming out for Windows or there's a new issue coming out for Apple Mac and, funny enough, we know what infrastructure you have, so we can tell you what issues you've got even before they actually occur.


Question from the audience:

Sparkster won my pitch competition in Amsterdam, You won my pitch competition in London how come I did not go into Uncloak?

Ian:

I mean from doing my homework, I felt like you guys had a decent team, a decent project with a decent idea. All-star advisers. But the token metrics were not quite what I was looking for, huge token supply, I think yeah how many total tokens?

Tayo:

4.2 billion tokens in circulation and the reason for that is we create a mass-market application here. We can sell this to millions of companies, tens of thousands companies, hundreds of thousands of companies, we need to make sure that it is enough tokens in circulation.


Ian: Why choose Uncloak instead of Sentinel protocol?

Tayo:

If you are a blockchain based company and you want an organization that is going to look at your certificates, your smart contracts online, then Sentinel is probably the better company to go for. If you're looking for a business that is able to look at your whole infrastructure, we're

not just talking about blockchain, there's a finite number of block chains but there is a huge amount of businesses that are out there. So these guys aren't concerned about blockchain. We look at infrastructure as opposed to necessarily looking at blockchain issues.


Ian: Do you have a working product?

Tayo:

So we have a demo at the moment so it's not an MVP. The demo is a vulnerability scanner. Funny enough we had a reviewer quite recently that gave us a quite a nice score, they actually used our demo application to find issues with their own website.


Ian: So you used to be a hacker?

Tayo:

I started to work for a consultancy firm, I became an ethical hacker and I started working for some firms in the UK doing it legitimately.


Ian: How is this different from Polyswarm?

Tayo:

They're more geared towards antivirus protection. What they trying to do is to have a crowd set of individuals that are around the world that are getting what's known as a signature. For example, every virus that comes into someone's machine is called a signature, it has this particular pattern and anti-viruses recognize these patterns and then say that's a virus. What Polyswarm want to do is they will be installing a piece of software on people's machines that pulls information out of their machines and puts into a central environment where people can discover new viruses and then try to find a pattern or a way to block that particular virus. We are not an

antivirus company, antivirus protection doesn't mean that your machine can't get hacked. Anti-virus is great and it's a start but you need to look further and prevention is better cure when it comes to cybersecurity.


Ian: What bonus did early backers receive?

Tayo:

Between 30 to 40 percent bonus. Typically we have had the six-month lockup.


Ian: The hard cap seems too high at 21 million. Why do you need this amount of money?

Tayo:

The 21 million dollars that we're trying to raise there is actually bonuses in there so, we may be closer to say 15 and 16 million. The reason why we raise this amount is when you launch something there's a whole bunch of entrants that will come in immediately and before you know, your market shares will be gone, so our aim is to raise money and hit it hard and fast as, making sure we get a maximum amount of exposure in and get access to the right channels, so we can push our application out as quickly as possible and get the critical mass that we need as an application.


Ian:

Are you letting public pools participate in Uncloak?

Tayo: No.


Ian:

What is your marketing strategy?

Tayo:

We've got Nick Banks who used to be EMEA head of WatchGuard. WatchGuard is one of the top five firewalls in the world he's got an extensive database and contact base. As soon as we obviously hit our ICO, we're gonna hit it very hard and fast so we're already speaking to a number of PR companies making sure the market is gonna be ready.


Ian:

One can buy the token on your website?

Tayo:

Absolutely, so one of the things that you know we want to make sure there's a payment gateway environment in there that will allow us to buy tokens directly from exchange using API.


Ian:

The price of the token is volatile...

Tayo:

We want to make sure we can manage the way our tokens are pushed out. We don't have a situation where the price is so low that you need like millions and billions of tokens to purchase a month on the service.


Ian:

Any plans to reduce the hard cap?

Tayo:

No.


Ian:

How will Uncloak get the good ethical hackers on board?

Tayo:

I've been working in cybersecurity for over 25 years now. So you know within cybersecurity there is a network of people that we have access to.


Ian:

How do you plan to launch one of your tokens on EOS when it's not even live yet?

Tayo:

EOS 3.0 is actually happening in June the second or third, I believe, the main net man kicks off. The great thing about EOS is the fact that they are able to handle code written in what's known as C , so you can actually install applications that are currently running on other operating systems and bring them in very quickly into an EOS platform.


Ian:

Why will you have two types of tokens?

Tayo:

We wanted to think about just using the EOS, but unfortunately the infancy of the EOS for crowd sale compared to the competitive firm, there's a massive gulf between the two. So that's the reason why we`ve got a crowdsale on Ethereum. The tokens are within the actual EOS platform are solely designed for working within a platform itself.


Ian:

Can we use Uncloak to find out GDRP issues?

Tayo:

Absolutely. GDPR is data protection regulation.




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