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Blockchain Authors: Xenia von Wedel, Serafima Alex, Anton Cherkasov, Serafima Al, Kevin Jackson

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Blockchain: Blog Post

Blockchain to Power New End-to-end Data Protection

Cutting edge cybersecurity company uses Cloud-to-Blockchain backup solutions

What is your company about, what’s your mission?

Dmitry Dontsov, CEO & Founder Spinbackup: Spinbackup is a SaaS Data Protection company that protects organizations against data leaks and data loss in the cloud.  By backing up corporate SaaS data, identifying business risks and security threats, and alerting administrators of potential data breaches, Spinbackup subscribers can rest easy, knowing their data is safely secured by the latest technology. Currently, we protect G Suite organizations, and are working on supporting Office 365 and Salesforce in the near future. Our mission is to provide end-to-end data protection for our customers.


Security: How secure is the blockchain and/or smart contract?

Dontsov: The more players involved in securing data, the higher the risk that data will leak or get lost as it moves through the process. The decentralized architecture of the blockchain and smart contract technology allows us to cut out most of the third-parties, ensuring that data stored in our system is more secure than data stored by companies not implementing this technology. Each transaction on the blockchain is published and protected by encryption so that hackers cannot access the data later and falsify it.

Smart contracts can be very secure if utilized properly.  Beginners might add too many complexities to smart contract technology, making it vulnerable to cybercriminals, but our company has years of experience in handling delicate cybersecurity frameworks and can create a near ironclad system for our customers.


Participation: What are you getting for your investment? Is the token usable, a security or other?

Dontsov: The SPIN token is an ERC20 utility token, not a security. The SPIN token can be used to gain access to the SPIN Data Protection Platform, which bundles an annual subscription for a set of data loss and data leak protection solutions.


Accounting & Legal: How is accounting done for tokens and what do they represent? What are the legal risks of the project?

Dontsov: Token holders will use our token management platform to manage, monitor status, pay for the platform subscription, or withdraw tokens. To access the Spinbackup solutions, customers must transfer a certain amount of tokens to their Spinbackup wallet. Tokens will remain locked as long as customers are using our solutions. Spinbackup is a Delaware C corporation, and we work closely with Greenberg Traurig, LLP, one of the most notable law firms in the world, to button up all our legal needs.


Community, Management & Team: Who is building this? How strong, large and capable is the team and the community?

Dontsov: We have a strong team of 25 employees at our company, which includes 15 highly experienced engineers with expertise in cybersecurity and cryptography. Our team has already developed 3 successful products with more launching over the next few quarters.


Earnings: What will the project earn or what will be done using the project, coin, token or network? What will be transacted on it?

Dontsov: Our goal is to reach $100 million in annual recurring revenue within the next 5 years. We will allocate the bulk of our budget to global advertising and brand awareness to generate new global leads for our solutions. As we expand globally, Spinbackup token holders will be able to adopt our products in more areas.


Supply & Demand: Is supply of the coin fixed or limited? How is supply decided?

Dontsov: There will be 10 million tokens issued. Each token will represent 5 licenses by the 5th year for a total of 50 million available licenses. This calculation is based on the total addressable market for Spinbackup solutions, which is about 100-200 million subscribers. The total number of customers using Google, Microsoft and Salesforce is about 2 billion people. According to the theory of information security, approximately 5% of that  population requires stricter measures for protecting their data and will employ third-party solutions like Spinbackup to supplement protection of their data.


Usability: What will the coin/token be used for? Is it a fuel, rail, mechanism, share, API key or something else?

Dontsov: The SPIN token can be used to gain access to the SPIN Data Protection Platform, which is the bridge between cloud storage and the decentralized storage of the blockchain.


Industry/Institutional Backing: Who in the industry is working on this? Does the project have notable partners, developers, joint ventures, investors, or customers?

Dontsov: To our knowledge, no one on the market is currently adopting Cloud-to-Blockchain backup solutions. For Blockchain SSO, we have one or two indirect competitors, however, unlike them, our solution is specifically designed to fit with cloud services.  We are supported by a crypto fund, Block Bit capital; a venture capital firm, AVentures Capital; and a few angel investors.


Technical: What are the technical details? Does it work now? How?

Dontsov:  SPIN Data Protection Platform’s main focus is to solve two significant problems: data loss and data leak in the cloud. Our current solutions include:

  1. Automated Daily Cloud-to-Cloud Backup for personal Google accounts to a secure cloud storage. It provides:

  • Automated Daily Backup

  • Accurate Recovery

  • Secure Migration

  • Local Downloads

  • Multi-Users Management Panel

  • Data Encryption

  • Weekly reports

  • Services backed up: Gmal, Drive, Contacts, Calendars and Photos


Learn more at https://spinbackup.com/solutions/individual-use/


As a cutting edge cybersecurity company, we are creating a pipeline of new blockchain solutions and will be making them available to our customers first throughout the course of our business. Some examples include:

  1. Blockchain Single Sign On for Leading Cloud Services - the most secure data leak protection that provides a password-free access to your critical SaaS data through an SSL certificate that can be easily installed on any device, verifying high level security at all stages.

  2. Biometric 2-step Verification through integration with mobile devices.

  3. Cloud-to-Blockchain Backup for Cloud Services - Automated Daily Backup to secure decentralized storage, the most sophisticated data loss protection against ransomware and human error for organizations of all sizes.

  4. Cloud services: our solutions integrate with G Suite and Office 365, with additional organizations like Salesforce added in future versions.



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X FACTOR: What’s your secret sauce. What other evaluation factors do you want to add?

Dontsov: First of all, we are not just an idea.  Our business has been operating with good traction and satisfied customers. Our deep knowledge and experience in the business of cybersecurity sufficiently suited to utilize powerful blockchain technology for end-to-end data protection. For the last 3 years, we have successfully protected organizations of all sizes against data leak and data loss in the cloud caused by ransomware attacks, insider threats, and human error.

Our vision is to bridge the gap between the blockchain community and traditional cloud services by creating a powerful blockchain ecosystem for SaaS data protection.

 

We are currently arranging to file several patents on our unique solutions, which will protect our investors and better serve our Spinbackup subscribers.#


More Stories By Xenia von Wedel

Xenia von Wedel is a Tech blogger and Enterprise Media Consultant in Silicon Valley and Paris, serving clients in a variety of industries worldwide. She is focused on thought leadership content creation and syndication, media outreach and strategy. She mainly writes about Blockchain, Enterprise, B2B solutions, social media and open source software, but throws the occasional oddball into the mix. Tip her if you like her articles: http://xeniar.tip.me