Interview with Hacken
BitcoinChaser: What kind of problem, market deficiency or opportunity inspired you to launch your project?
Hacken: We see blockchain and high demand for cybersecurity services as the two major opportunities. Blockchain is a trend now and many companies develop their products around this technology. The problem is that those products are also at risk to be hacked and this is becoming a serious problem for the blockchain revolution. At Hacken we’ll be focusing primarily on blockchain security bringing together white-hat hackers and the blockchain community. Hacken is originally custom-tailored for blockchain: we will use smart contracts when we sign agreements with clients for the bug bounty and HackenProof vulnerability reports data will be stored in blockchain to preserve its integrity. The Ecosystem is supported by its own utility token – the Hacken.
BC: How will your project address this problem, market deficiency or opportunity in a unique way?
Hacken: Currently the supply fails to meet the demand in the area of penetration testing and bug bounty programs. Our ecosystem will allow customers to acquire cost-efficient high quality penetration test services and vulnerabilities assessment for their products. Our long-term goal is to create the future white-hat cybersecurity community by creating a stable means of income and financial incentives for its members. The vision of the organization is to launch a movement that in several years will become an important factor in deterring and countering international cybercrime.
We also invented a unique ‘burning principle’. It was made for regulatory reasons that might otherwise prevent customers residing in some jurisdictions from participating. We also believe that “burning” will expedite the growth of liquidity, and lessen the volatility risks for Hacken. It is important for all owners of Hacken to understand that “burning” affects only the platform fees, thus reducing the amount of Hackens which we, the founders of the platform, not our customers or clients, own.
BC: How do you think that competition will develop in this segment of the market following your ICO?
Hacken: Cybersecurity market will continue growing. While there are some existing bug hunting marketplaces like hackerone.com, bugcrowd.com, synack.com or cobalt.io, we view traditional cybersecurity firms providing penetration tests and security audits as our primary competitors. Unlike these firms which have limited in-house staff, Hacken is blockchain-based, decentralized and backed up by dozens (and hundreds in the future) of white-hat hackers. This offers the highest flexibility, availability and cost-efficiency on the market. The additional benefit is the utility token and the unique burning principle through which it is regulated.
BC: For all those who have read your white paper and are still on the fence about contributing to your ICO, what can you tell them that could lead them to buy into your project?
Hacken: We encourage companies to acquire Hackens and receive cybersecurity audits and services performed by the world’s top white hat hackers at an attractive price. We invite hackers to apply their talents on the “bright” side of the firewall and make legitimate profit. The longer community members are tight with the currency, the more services within the bug bounty program they will be able to purchase.