FailSafe's blockchain platform defends against phishing, scams, and state-sponsored attacks. They work with insurance companies to lower premiums by providing risk-mitigation proof, and can block attackers within seconds of a key compromise by outbidding them on the blockchain.
Chapters
Are you just going to say, we're going to protect you against an attack, or are you going to protect them against everything? It's a target-rich environment, so you see things like phishing, social scams, and then you also see really sophisticated attacks by states, essentially. Through our defense-in-depth infra, we're really going after the entire spectrum.
Let me get this straight. Are you an insurance policy for me to sign? As a company manager.
So I think any cybersecurity solution says that they'll guarantee or they'll say 100%, they're definitely lying to you. Now the amazing thing is that we work with insurance providers.
Oh, are you getting insurance companies to pay more so that people will use you?
Exactly. And to forward sell to—
has that happened yet?
We are in talks with a couple. Yes.
How are you different from The average insurance agency.
Bill leaned towards, you know, the more traditional business that has definitely been around way longer than blockchain has. So maybe just to highlight a point, we do not specifically insure our customers. We allow them to mitigate risk significantly so they can take that evidence that they're being protected by Failsafe to their insurers and they can say, we can now pay lower premiums because we have made all these measures to significantly reduce the risk of an attack.
So how are you thinking about handling the complaints and the regulatory needs for different countries?
So we actually work very closely with the Monetary Authority of Singapore. We're headquartered there, and we essentially help to ensure that the companies we serve not only comply with the current standards, but basically allow them to comply to future standards as well. You said real-time, that this protects in real-time. So on the blockchain, things can happen in a split second. Your keys are compromised. The wallet is drained immediately. How does your platform actually work in real time?
He wanted to know the specifics, like, because we made some claims. He wanted to know how that actually worked. It was great to have someone that was ready to get technical on that panel. We submit a countertransaction with a higher gas fee to be processed just ahead of the attacker and move your funds just in time.
