The Internet of Things, also known as the IoT, is a technology sector that has been becoming increasingly popular in the past several years. As you probably know, the IoT offers all kinds of gadgets and devices, all of which have a connection to the internet, as well as the potential to make our lives easier and more interesting from the tech aspect.
However, for all the benefits that the IoT sector can bring, there are also a few issues with it, with some of them being quite serious. As mentioned, all of these devices can be connected to the internet, and they require such a connection in order to work properly. This leaves them vulnerable and can lead to some serious security breaches.
Unfortunately, the security of such devices is not among the first things on most users' minds, which is why security issues happen in the first place. People can't seem to understand that anything with an internet connection needs just as much protection as their PC, phone, and other similar technologies. But, there may still be a solution, particularly as the IoT sector seems to be developing quite a close relationship with the blockchain technology, and Novam might be the project that will massively improve security and resolve numerous issues along the way.
Novam is a project that uses DLT and AI to automatically monitor and mitigate all threats to IoT devices. It also provides regulatory compliance integration and regular auditing, all of which is done for more efficient threat monitoring and detection. The final goal, of course, is to ensure that the system events are included on an immutable distributed ledger.
Another noteworthy thing about Novam is that this is the first AI-driven cybersecurity program that uses blockchain technology for improving the accuracy of security checks. The system will not only seek out and report anomalies, but it will also fix them, and help improve the system in any way it can.
In addition, it uses machine learning techniques, as well as probabilistic mathematics, to further increase the system's security. It will always stay on guard, always conducting scans and checks, and always monitoring for threats that might endanger devices and their users.
To power its platform, Novam aims to launch its own token, MNVM. The project has yet to reveal the time and date of its ICO, but what is certain is that it is coming and that a lot of people are excited about it.
The token, MNVM, is designed to serve as a utility, and it was developed as an ERC-20 token on Ethereum's network. It has an available bonus, while the token's price during the preICO period is already announced at $0.06 per token. Interested investors can obtain the token in exchange for fiat currencies or Ethereum coins, with a minimum investment being $20,000.
The project has set up a soft cap at $500,000, and a hard cap and $2.076,923. Finally, it is registered in the US, with no restricted areas reported thus far. In other words, anyone can participate, with the only requirement being to go through Whitelisting and the KYC procedure.
|Start||June 1, 2019|
|End||July 31, 2019|
I represent an up-and-coming tech company that is developing the smart car keys. It is hard to believe, but even such a seemingly trivial thing can actually get hacked. Therefore, we were seeking for a security solution for our product. After I have stumbled upon Novam, I decided to pitch their concept to my bosses and they found it quite interesting. I can’t tell you right now whether we’d end up cooperating with Novam, but we have purchased some tokens and will give their MVP a go.
Since the security, whether it is a data or operational security, is one of the main concerns for the IT and financial companies around the world, I reckon that Novam has a good chance of establishing a powerful value driver behind their MNVM token. That is, of course, if the project manages to carry out a successful marketing campaign and sell their blockchain solution to major corporations. Given the fact that the interest in crypto is on the rise, this task looks feasible for Novam, so good luck to them.
Frankly speaking, I feel a bit skeptical about Novam, mainly because they have chosen to focus on enterprises instead of coming up with a solution that could be adopted by common users. Conceptually, Novam is fine and their technology stack is also quite good. But there is an issue of tough competition in the IoT market, accompanied by some reluctance towards blockchain on the part of large tech corporations, which Novam will try to convince to implement their solution.
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