FYEO Identity, our proprietary password manager, is applying a Web3 approach to identity management leveraging private-key cryptography to generate user identities and secure credentials using private key material.
To capture the market, FYEO Identity is offering our password manager and identity monitoring service, which leverages our database of over 22 billion leaked credentials and 19 billion leaked credentials for free to individuals with a freemium model that will generate revenue downline for future product feature releases.
FYEO Domain Intelligence (FYEO DI), our enterprise SaaS service, continuously monitors the darknet & other threat actors, enabling enterprises to manage & assess online risk exposure and have early warning of threats as they occur. FYEO DI service includes: domain and credential monitoring, crypto wallet monitoring, real-time phishing protection as well as executive protection and advanced threat management.
Tell us about yourself?
I am a serial entrepreneur — I can’t help always wanting to be part of where the world is going. Ever since 2009 I have been involved in building and growing technology companies.
If you could go back in time a year or two, what piece of advice would you give yourself?
I would tell myself to brace myself, there’s a pandemic coming… 😉
What problem does your business solve?
Theft remains the biggest barrier to trust in crypto and blockchain adoption. In 2021 in DeFi alone, over $12b in assets were stolen in cases of fraud and theft and the average value of breach and fraud cases across the industry reached $93.3M. The number of breaches year over year is expected to grow by 40% with 81% of hacker related breaches originate from poor password management.
What is the inspiration behind your business?
Through the work we have done through our consulting firm, BTblock.io, we saw a real need for tools for the crypto community that have a low barrier to entry and are easy to use. We are inspired because we feel we are incredibly well-placed to actually solve real problems with security, using web 3.0 concepts that we already know and love and believe in.
What is your magic sauce?
FYEO ID is the only free password management offering to provide both secure credential management for desktop and mobile and differentiates itself through its private-key approach to creating secure credentials. FYEO ID does not store user keys or information and only basic metadata is committed to the blockchain. If FYEO is ever breached, no user credentials will be available to the threat actor. Users’ credentials only exist on their device.
FYEO DI is the only cyber threat intelligence company to offer wallet monitoring on the darknet. Our easy-to-use platform eliminates barriers to entry or the need for in-depth technological know-how. Furthermore, FYEO DI’s entry price point make us an ideal solution for blockchain/DeFi organizations looking for a comprehensive security solution.
What is the plan for the next 5 years? What do you want to achieve?
We want every person who interacts with crypto to be as secure as possible. We want to be the bridge to web 3.0. We want FYEO to be synonymous with security.
What is the biggest challenge you’ve faced so far?
It’s hard to find employees with the right skill sets, who also fit with us culturally.
How do people get involved/buy into your vision?
We want crypto projects to secure themselves with FYEO Domain Intelligence and we want everyone who reads this to sign up for the FYEO ID beta to start protecting their online identity now!