TopiaCoin: Building a Secure Future for Blockchain Applications
John Chambers, the former Chairman and CEO of Cisco Systems Inc., famously said that “there are two types of companies: those that have been hacked, and those that don’t know they have been hacked.” Some notable breaches over the past few years include the 3,000,000,000 email accounts at Yahoo, the 143,000,000 credit files at Equifax, and the 87,000,000 Facebook accounts accessed by Cambridge Analytica. The reason why these data breaches occur and keep occurring is that data lies on central servers just waiting for hackers to breach the firewall. In Decentralizing Privacy: Using Blockchain to Protect Personal Data, the authors write: “The recent increase in reported incidents of surveillance and security breaches compromising users’ privacy call into question the current model, in which third-parties collect and control massive amounts of personal data.” The goal then is to move away from gatekeepers to a decentralized system. However, the decentralized system also presents many challenges. The “Godfather of Bitshares” Stan Larimer says: “Today, there is no real data security for blockchain-based applications, and there is a huge need in the marketplace for a security layer.” The real opportunity then lies in securing blockchain-based applications. This leads us to think where this type of technology could exist today and the first place that came to mind is the military. After all, the military needs end-to-end encryption that cannot be hacked. Topia Technology To meet its needs, the military has relied on Secrata, developed by Topia Technology. It is the only enterprise security platform providing triple-layer encryption and separation end-to-end, protecting against brute force attacks and more innovative security threats. It has offered unparalleled security, flexibility, and performance for US government agencies such as the Air Force, Army, FAA, TSA and other enterprises that have required protection coupled with strict performance metrics. What Topia Technology has done is combine its patented security for shredding and encrypting data with the power and transparency of blockchain into its SDFS network. Individuals and businesses will be able to quickly and securely share any digital asset without a central server and with the confidence that each transaction is not only performed in a manner agreed upon by the blockchain, but it will also have the ability to guard against multiple threats. SDFS Network As part of the launch of the SDFS network, Topia Technology will release a new cryptocurrency token known as TopiaCoin. This token will be used within the SDFS network to pay for services as well as reward users who contribute to the healthy functioning of the Network. As outlined in the white paper, common use cases include: By using TopiaCoin’s Secure Decentralized File Sharing (SDFS) network, developers and manufacturers of the Internet of Things (IoT) devices will be able to build security into their products from the ground up by using the ready-made building blocks provided by the SDFS libraries. The SDFS network fills the security gap in decentralized systems and enables developers to leverage the decentralized Internet to power their decentralized applications. Through “Secure File Sharing”, the first DApp available on the TopiaCoin network, individuals and businesses are able to quickly and securely share any data file or digital asset without the need for a central server or authority; and, with the confidence that each transaction is performed in a manner agreed upon by the blockchain. ICO Compared to other initial coin offerings, TopiaCoin has been designed from the beginning to build trust and investor faith by keeping current with all SEC regulations. To do so, Topia retained the prestigious law firm of Wilson Sonsini Goodrich & Rosati who have structured TopiaCoin as a security that is offered through a SAFT. This critical step, in our opinion, makes TopiaCoin one of the top ICOs today because it can pass any and all regulatory scrutiny, which is extremely important in today’s environment. For accredited investors looking to take advantage of this ground floor opportunity, the pre-sale is still going on. The public sale will run from May 15 to June 5, 2018. More information can be found on the TopiaCoin website, white paper, Medium, Twitter, and Telegram.
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