Sirin Labs ICO Seeks To Secure IOT Devices

Sirin Labs ICO Seeks To Secure IOT Devices

Yielding $6 trillion dollars per year according to some sources, Cybercrime has never been more lucrative. It also appeared to be gaining the upper hand as business and governments have struggled to maintain secure networks in the face of increasing sophistication from organised cyber gangs.

With John MacAfee warning that certain governments now possess the ability to knock out the electrical grids of other nation states, it appears to be only a matter of time for this kind of knowledge to break into the mainstream cyber community.

The general outlook appeared grim until, that is, the advent of new, Blockchain-inspired solutions which now seem likely now to offer practical unhackability, conferred by the Blockchain’s requirement for consensual behaviour within a network.

Sirin Labs Enter the Fray

Sirin Labs, the brains behind behind Solarin, a smartphone designed for the hyper-security conscious, are part of a growing wave of start-ups who are conceiving of Blockchain-based solutions that seek to address security issues for the coming Internet of Things age that lies around the corner.

Sirin plan to leverage the same FINNEY architecture that underpins their flagship product as well as the IOTA’s Tangle infrastructure which allows for small, localised communities of independent Blockchain-type networks.

The company’s long-term strategy is to offer a range of machine economy devices that exploits the Shield OS operating system which incorporates inbuilt features such as peer-to-peer resource sharing, crypto-wallets, and advanced communication features.

Upcoming ICO

Hoping to finance their new venture through an upcoming ICO beginning on December 12, their first FINNEY offerings will initially be a smartphone followed by a PC. These products will subsequently have access to a decentralised app store with purchases being made using the SRN token.

As part of their offering, Sirin Labs will also be developing a SDK kit for dApp development.

The token sale will not be not hard-capped, employs a tiered scale that rewards early investors and will be hosted on the Ethereum blockchain.