Topic: BusinessWorkforce

Last updated: March 5, 2019

Buglab: Cybersecurity SolutionsA joint report from Frost & Sullivan and the International Information Systems Security Certifications Consortium, Inc.

(ISC) in the 2017 Global Information Security Workforce Study (GISWS) predicted that the number of job offers that will not be filled in cybersecurity will be more than 1.8 million by the year 2022. Computing environments is very active and multifaceted today that demand for cybersecurity specialists surpasses the supply as hackers develop advanced structures that target numerous corporations.Gartner forecasts that information security will be spending $96.3 billion in total in 2018 alone. This, being an increase of 8% if compared to 2017 spending. Demands resulting from Internet of Things (IoT) or new smart technology applications is probable to be part of the cybersecurity growth. Conglomerates, organizations and about any kind of software is at risk if counter measures are not taken.

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If authentication isn’t well certified or emails and private data are unprotected, an organization could face legal actions.Effects of Return on Investment (ROI) are difficult to quantify, so it takes time for companies to recognize the need for cybersecurity services. For many organizations with any digital assets on their websites, it, sometimes, takes hacking into their system before actions are taken to strengthen their security. Some corporations often are aware that computer security fall short of the norm, but, hiring experienced and certified cybersecurity professionals is quite out of their budget.

Unfortunately, victims of cyber-attacks hardly publicize it unless they must. Data exposures are rarely of significance as product’s first priority is to get to the market. So, it is almost impossible to get in-depth statistics on cyber-attacks (Details, frequency or impact). Nevertheless, what is unquestionably certain is that the trend is on the rise.According to Cisco, by the year 2020, the number of connected devices on the internet will be more than 50 billion. The invariably means more information stored that will need protection which will warrant the further growth of the cybersecurity market to address these needs.Buglab, an organization united by a mission to help companies protect their digital solutions, offers an exclusive, inexpensive, incentivized and easy-to-use platform to address this common and mounting business need. Buglab assists corporations and businesses in IT, financial services and retails to detect and extenuate cybersecurity cracks they may not know about.

They make cybersecurity services available to even enterprises that lack resources and budget to block cybersecurity exposures.The Buglab program identifies and repairs vulnerabilities on business applications, websites, Internet of Things (IoT) devices and smart contracts by converting penetration test services into challenges (contests) for a community of autonomous experienced information security professionals with certified qualifications.The Buglab platform connects establishments that have information security needs with a community of qualified cybersecurity penetration testers where testers are compensated when they expose system vulnerabilities. A diversity of customizations is available, specific to different organizational needs.Most experienced penetration testers want their financial information to remain anonymous.

In order to receive payments, the Buglab Token (BGL) is being announced to incentivize penetration testing in the blockchain environment. Tokens can be transferred between two parties over the Internet according to the rules set within the contract that holds the token. The BGL Token is based on the ERC20 standard for blockchain tokens and will be required for all transactions made within the ecosystem. By creating a token, Buglab will be able to attract experienced and certified cybersecurity penetration testers.

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