Tim Draper Invests in Blockchain Cybersecurity Service Naoris Protocol

Billionaire venture capitalist Tim Draper's Draper Associates, alongside other notable technology investors including Holt Xchange, Holdun Family Office, Holdun Opportunity Fund, Brendan Holt Dunn, Level One Robotics, SDC Management, Uniera, Expert Dojo, and several other angel investors, have cumulatively invested $11.5 million in blockchain-based cybersecurity solution Naoris Protocol. 

Naoris Protocol is building a novel cybersecurity network by leveraging blockchain technology. It uses AI-based risk management and a Mesh-based decentralized validator structure to give individuals and businesses total control over their data and digital security. Owing to its unique blockchain-powered CyberSecurity Mesh HyperStructure, Naoris Protocol turns every participating network device into a trusted validator node.

Per Tim Draper, "Naoris Protocol is creating a unique distributed cybersecurity solution. The team at Naoris sees an enormous market opportunity in cybersecurity, and we at Draper Associates are thrilled to be part of their journey."

Naoris Protocol is expected to go live with its minimum viable product by the end of 2022. The Naoris team expects to roll out the full product to clients from several Web2 industries, including banks, civil infrastructure, state and national organizations, and healthcare companies, in mid-2023.

Naoris Protocol CEO David Carvalho adds, "Our vision is to leverage the cryptographic power of the many through blockchain to fundamentally change how trust happens between devices and applications on the internet, from individual users to businesses and critical spaces, by creating a machine-economy backed cybersecurity enforcement protocol that's unstoppable, permissionless, and credibly neutral."

The Decentralized Cybersecurity Infrastructure

By design, traditional cybersecurity models aren't well-equipped to mitigate the ever-evolving cyber threats. The Web2 ecosystem relies heavily on centralized security models, leading to end-users losing control over their personal data. Moreover, multiple devices connecting to a centrally secured network, especially in today's hybrid and remote-first work culture, have led to numerous "insecure" endpoints.

Naoris Protocol, on the other hand, revolutionizes how traditional cybersecurity solutions approach the concept of security. Instead of having a network of individually operating, siloed devices that are the gateway to a single point of failure, Naoris employs the dPoSec (Distributed Proof of Security) consensus mechanism to enable baseline security and double-up as a fully decentralized trust framework.

The dPoSec mechanism also facilitates Naoris' CyberSecurity Mesh HyperStructure to provide an interoperable and scalable identity-based security so that all assets fall under the same integrated security structure, regardless of location.

Put another way, Naoris Protocol's cybersecurity solutions can mitigate existing security vulnerabilities for individuals and organizations, especially for remote-first and decentralized companies. With its decentralized CyberSecurity Mesh HyperStructure, Naoris eliminates threats across every device (endpoint) while maintaining a Zero-Trust architecture.

That said, Naoris Protocol isn't formulated to compete with existing solutions. Instead, it is built to supplement existing cybersecurity solutions by detecting and validating information using AI (artificial intelligence) and a network of peer-to-peer connected decentralized validator nodes. The underlying HyperStructure network can detect security lapses within minutes and reportedly save up to 90% of the value lost in individual cybersecurity incidents.

Disclosure 

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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