The team of security experts behind TargetProof enhanced the best available open source cryptographic standards and combined them to create new fraud prevention platform. Below is interview with Tom Stone, founder and president of TargetProof:
Q: Tom, for those who have never heard of it, how would you describe your startup?
A: The Internet is anonymous. Identity can be easily forged and spoofed, and because of this, business has suffered tremendous losses. TargetProof is an IT Security company focused on providing proof of authorship so our customers can easily spot fraud in electronic communications..
Q: What was technically the most challenging part of developing TargetProof?
A: Our solution leverages existing open source cryptographic standards that have been around since the 1990’s. These standards are incomplete for our purposes and we have to re-work some of them which will be released back to the open source community. Building on the backs of giants is easier, but sewing together the pieces in a mature technology stack that is enterprise-class is difficult.
Q: Do you have any new features in the pipeline? What are your plans?
Our killer feature is a proof indicator in the email inbox. We are able to show an email recipient when we have proof of an author’s true personal identity. The proof of the identity data is crowdsourced. This is crucial to our differentiation. The identity data is NOT crowdsourced, but the proof of it is. I point this out because it is our belief that OAuth and other SSO methods for identity verification are inherently flawed. Our product shows the Recipient whether or not there is any proof to the identity of the Sender thereby preventing identity fraud.
We start with Email Fraud Prevention to stop spearphishing. Next comes Browser protection, and then IoT. This is a Consumer and Business problem and we will serve both masters starting with Business.
Q: In terms of what you’ve learned from building TargetProof, what advice would you give to future entrepreneurs?
A: Be comfortable with your chosen field, and ready to stay in the game whether you win or lose. Getting somewhere is a discovery process, so failing fast helps synthesis, the root of creation. Be eager to meld ideas with anyone who advances your thinking along your chosen field.Activate Social Media: