by David Drake
There is on the average $11.7 million losses annually in organizations due to cybersecurity fraud and crimes according to a 2017 Accenture study. No surprise that 75% of 500 businesses surveyed by Experian worldwide in 2018 are now seeking more advanced security measures and authentication processes to protect their customers.
Oxford BioChronometrics’ cybersecurity and fraud detection technology defends its clients against the rising tide of fraud by analyzing their ads and lead generation efforts to inform them about their real human audience. Their cybersecurity solutions cover the entire client acquisition process to ensure the best possible ROI.
I had the privilege to sit down with David Scheckel, CEO of Oxford BioChron whose token sale will start this October 2018, to learn how they are addressing this problem and finding more ways to secure digital ads and assets through their Human Recognition Technology.
1. What problem is your ICO project addressing?
Our products quantify fraud, including its frequency. By identifying non-human (bots) digital advertising fraud – and gathering the data that unambiguously demonstrate it occurred – these tools and services empower advertisers to ensure publisher traffic integrity. And to pay only for traffic that matters. Having established a reliable human baseline, SecureAd Suite of products then applies measurement tools to show whether targets are being hit as intended, both in terms of geographical location and by the websites on which the ads were placed. This generates actionable data that allows advertisers to understand their traffic and to improve their ROI.
By providing additional funds for these efforts, we will be more efficient in deploying our solutions to new customers.
2. What makes blockchain the ideal technology for solving this problem?
Very simply put, we are already working in highly complex algorithmic math with the programming of our fraud detection solutions. So, our technology and blockchain are complementary. By extending our security to blockchain, we can help protect the environment this ICO project is part of while blockchain supports our efforts to ensure the highest quality results for our clients.
3. Which key markets, industries or applications will benefit from the scalability of your technology or platform and how?
Every advertiser, website publisher, lead generation, membership sites, social media, blockchain (for securing chain) and ultimately the general public as with decreased fraud, and decreased theft trust will be restored in digital marketplace and costs to consumers will be reduced.
4. What makes ICO or ITO the best way to raise capital for your blockchain company?
Our token offering allows clients and other users discounts while providing the company the capital it needs to grow. It’s a win-win for everyone who gets involved.
5. What is unique about your token or coin that will encourage mass adoption and why?
Our token is a discount product pre-sale for a product that exists in the market and can be used and redeemed today. The token has a redemption value fixed at 30 cents for use of services, with a consumer protection feature that, in the event the company is sold or liquidated, the first use of funds is the redemption of all unused tokens at full redemption value. We believe that this will be the basis for a stable-priced token.
6. What is the main challenge your platform is facing right now?
Brand awareness is a pressing issue. While we have received excellent press and come in at the top of competitive bake-offs, getting our name in front of decision makers in the context of being the best choice is a challenge. Also, rolling our technology out to new users, each of whom has custom needs and requirements, is a reason we need to expand our team through this ICO.
7. What is the biggest win that your team has achieved so far?
We have clients that truly love us! While we have many clients such as Daimler and several banks including Commerzbank, Bank Vontobel and others, a few truly understand and appreciate that we provide a whole stack solution, from initial banner ad up to point of purchase. With SecureAd, SecureForm and the rest of our Secure Suite, what we spent years building is beginning to be recognized and take hold is the biggest win to date and validates the effort.
8. What is the best advice you have received from one or more of your advisors and why?
We got a solid piece of frank advice from David Drake. He said, “Get clients!! Once clients prove out your product and prove its worth, the rest will fall in place.” Actionable, achievable advice that we have followed to the betterment of this ICO and the company.
Disclaimer: David Drake is on the advisory board of this company.