PolySwarm CEO Steve Bassi reportedly shared a perspective that there is a necessity to utilize blockchain for cybersecurity, with cybersecurity becoming more important as the blockchain sphere keeps on growing. 

Specifically, Bassi reportedly argued that although awareness of blockchain technology and security is witnessing a surge, blockchain leverage throughout the cybersecurity scene is still in a primitive phase. 

“Awareness about cybersecurity and crypto, especially over the last five years, increased more than any time during my professional security career,”

Regardless of the increase in terms of awareness, Bassi reportedly claimed that cybersecurity initiatives are still having difficulties in searching for applications for blockchain across the sphere, with Bassi noting that PolySwarm built a project to use the technology to bring improvements to security. 

The company reportedly carries this out via granting rewards to users as they provide data on malware. 

“Gathering complete data on malware infrastructure shortens the lifespan of major malware campaigns and ultimately keeps PolySwarm’s customers and the internet at large more secure.” Bassi additionally remarked. 

Drawing inspiration from the success of the Brave browser, Bassi reportedly provided further explanation that antivirus establishments are already collecting what he referred to as “ultra-valuable malware infrastructure”, but provided no compensation to users for turning in the data.

Upon the question of the controversial measure Web2 firms such as Google and Facebook collect data, Bassi reportedly shared that Web3 will bring the difference. Per Bassi, PolySwarm will concentrate more on security instead of advertising.