SecurityChain (SECC): Blockchain Security Vulnerability Protection System
The top executive of a company called Security Chain (SECC), Mingo Chin, has recently told the media that claimed that blockchain security is still considered vulnerable even if people do not realize it yet.
Mingo Chin is security expert that already works with the blockchain technology for quite some time. He is On The List of Forbes 30 Under 30 China and US and has already worked as Ecological Development Officer of Security Chain, a partner of Xing’an Capital.
He is the founder of the company that provides military-grade network security solutions for both individuals and companies that need blockchain solutions. The company is a software wallet solution provider, too.
Transforming The Security Industry
According to Mingo Chin, the company is doing a lot more than being a third party blockchain solution provider or a security company. He believes that the real function of the company is to transform the labor market relations in the security industry instead.
Because of this, they will invent blockchain-related consensus and technological advancements that will help to shape the industry. Interest in the blockchain industry now is global and has scaled a lot.
However, there are still too many security accidents and these accidents have cost over $2 billion USD since 2011, which is a lot of money. Ranging from currency theft to other scams, the security of digital assets is a serious concern right now and might lead to astronomical financial losses. Hackers can take too much power if they find the loopholes in the blockchain.
By taking over nodes, wallets and networks, hackers are able to get control of the money of a lot of companies and even investors and something has to be made to develop further this market into something more secure.
According to Chin, the public has to pay more attention to blockchain security and its issues because a single attack might make them lose all their investment as there is not a lot of protection in this industry at the moment.
Chin believes that the value of security white hats has been underestimated and that they make less money than hackers, which is also a problem that leads the best of them to actually become hackers and that this could be avoided by paying them more.
The executive finalized his statement saying that people can send companies to the SECC because the company will provide them will consulting for free. Why? Because it is the first step to transform the industry and to create an environment that can grow healthier and safer.