VECAP (VC) ICO - Next generation of Smart Home



  • Vecap’s story began when one of our founders’ home network was hacked and his private information ransomed. He turned off his gaming console and disconnected it from the internet. His data was gone but with that disappearance came a strangely disturbing thought: How many more people had that hacker targeted with the same method?

    We have looked at the market of IoT devices and saw a huge flaw which the industry’s meteoric rise would expand even further. In their rush to deliver finished products to keen buyers, the companies that manufacture these products showed zero concern for the security of their future users.

    Instead of agreeing on a common networking protocol, each established their own server and application, causing their customer’s home network to be formed of disjointed parts with vulnerable links connecting them.

    Their eagerness to profit from an exploding market has given hackers an upper hand. All they have to do is find one vulnerable point in your smart home– your router, TV, console, or any other appliance–and they’ll control your life. As the IoT industry grows to include basic utilities like water and electricity, the most optimistic predictions indicate that 8 out of 10 devices are vulnerable.

    Soon enough, most everyday appliances will be networked. Given the outstanding security risks, it’s only natural one in every three people have put off setting up their smart home system. They’ve delayed the inevitable because they feel their privacy would be exposed. And they have a point! Why should we feel insecure in our own homes?

    Next generation of Smart Home

    Our mission:

    Luckily for them, Vecap’s founders got a team of blockchain & smart contract experts together to find a solution. By combining these two technologies, we can secure all communications between devices in your network. If these connections are protected, so are you.

    We believe that in all technical fields, safety and efficiency should be the top priorities, even more so when it comes to your home and your personal information. This belief underpinned our work in guarding your privacy. That allowed us to conciliate the technological progress and online security without compromising.

    The age of the smart home is just around the corner. While greed blinded the manufacturers of IoT devices, we focused on ensuring the primacy of the right to privacy for everyone.

    Using our software infrastructure and physical hub, Vecap ensures all communications between external devices within smart homes are safe. With smart contract transactions protecting the internal connections of your network, and all recorded information being kept on a decentralised ledger, no hackers will give you nightmares.

    Blockchain technology stacks the odds in your favour, so you don’t have to pick between your privacy and progress. The hope that every user should control his or her life independent from hacking threats has guided our founders and expert team in building a reliable, faster, and more trusted platform.

    Problem 

    Insufficient protection

    Several devices from well-known companies and other vendors have serious breaches in their security systems: unsufficient encryption, weak authentication requirements (e.g. auto-login), possibility of external connections via VPN. All it takes is one unprotected device to compromise the security of your smart home. Hackers only need to find that one breaking point to bring down your whole network.

    Fast break-in

    It takes hackers less than a minute to get access to smart home devices, from phones and TV´s to routers and consoles, all these machines are connected to the internet. Huge numbers of devices with zero-day vulnerabilities will be hacked as soon as the breaches become known, before manufacturers will be able to update all vulnerable smart devices.

    Short-term thinking compromised long-term security.

    Plenty of entry points

    An average smart home owner has several smart devices and a single unprotected one is enough to compromise an entire network.

    Vecap starts revolution in IoT security

    Don’t worry, our solution is as ambitious as it is simple. We’ll use smart contract transactions to secure all internal communications within your home system. Every action on the Vecap platform will be recorded on our blockchain, in an immutable database that is nearly impervious to corruption. A hacker would have to take control of 51% of such network just to control a specific device, rendering this effort impossible by every definition of the word.

    By protecting the links between each device and uniting all smart homes in a decentralised network, Vecap safeguards all private information against malicious actors. We have reached a new privacy-protecting standard, one that does not rely on built-in security functions

    Website https://en.vecap.io/

    Whitepaper https://vecap.io/uploads/2019/...

    GitHub https://github.com/Vecap

    Twitter https://twitter.com/Vecap_io

    Reddit https://www.reddit.com/user/Ve...



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