StrikeForce Technologies Inc (OTCMKTS:SFOR) has bottomed out after a long period of underperformance, and the stock now looks set to edge higher as investor’s confidence continues to grow. Fuelling the bounce back are a string of developments that have seen the company grow a strong presence in the Cybersecurity space.With the threat of cyber-attack always on the rise, investors have started to take note of the company’s, novel technologies that have positioned it on the cusp of rapid growth. While the stock is still languishing near all-time lows, we remain optimistic about its prospects as the company continues to diversify its revenue streams.The company’s share price trend indicate improving trading volumes an indication of growing investor’s confidence. SFOR Daily ChartThe stock needs to close above the $0.01 mark, to affirm a bullish trend that has been building momentum since the start of the year. Failure to do so, the stock stands the risk of plummeting to its 52 week low.Let us first review the company’s core business before we look at the catalysts, likely to push it up the charts.StrikeForce Technologies Business Description StrikeForce Technologies bills itself as a software development and service company focused on the development of solutions for preventing cyber theft and data security. The company develops identification protection software for protecting computer networks from unauthorized access.Consumer’s corporations and government agencies routinely use the company suite of products to shield themselves from network and data breaches. The management strives to achieve growth by deploying a robust sales channel rather than relying on acquisitions.Cryptocurrencies and blockchain Protection AmbitionsThe cryptocurrencies space has felt the full force of cyber-attacks as the industry continues to evolve. Cases of people waking up to find their digital wallets have been hacked are not new. However, that could soon change, as StrikeForce Technologies moves to expand its footprint in the space.The software development company has unveiled a new subsidiary dubbed BlockSafe Technologies that will specifically focus on providing security solutions for protecting blockchain and cryptocurrencies.Becoming a leader in Blockchain technologies is the company’s latest ambitions as it continues to explore new opportunities for growth and for generating shareholder value. The new unit will offer three security solutions.Blockchain Defender is the most advanced and comprehensive solution, dedicated to blockchain firewall specifically designed for access control and policy enforcement. Desktop defender and Mobile defender are designed to protect digital wallets and cryptocurrencies from being hacked.
“Protecting blockchain and cryptocurrencies is a huge greenfield opportunity for us. Cybersecurity has typically lagged far behind innovation, but in this instance, we know exactly what’s needed, and the best part of it is that our existing patented technologies will play a key role in protecting private/corporate blockchains as well as digital wallets and cryptocurrencies,” said CEO Mark L. Kay.
StrikeForce is to license its existing technologies to BlockSafe Technologies, which will customize them to offer protection to cryptocurrencies and blockchain applications.What This MeansExpansion into the blockchain space provides a unique opportunity for the company to diversify its revenue-generating streams. Given that the industry is still in the early stages of development, StrikeForce remains well positioned to generate significant value as demand for security solutions in the space continues to grow.The company has also announced plans to engage in a SEED and ICO Round as it seeks to raise funds to support BlockSafe ambitions. There are also plans to create BSAFE cryptocurrency tokens.GuardedID upgrade In addition to pursuing opportunities in the cryptocurrency space, StrikeForce is also aggressively strengthening and expanding its current portfolio of Cybersecurity solutions. The company recently released a major software upgrade for GuardedID, consequently making it the best anti-keylogging software for PC or MAC.GuardedID features a Keystroke encryption capability and will now include Microsoft Windows 10 Operating System and Windows 10 desktop applications. Clickjacking and hooking are some of the new attack vectors that the new spyware will shield against.
“Today, practicing smarter Cybersecurity requires a layered approach, an approach that addresses these new attack vectors like Keylogging, Clickjacking, and hooking. This is why this release is so significant for everyone, it addresses those attack-vectors head-on, and comes in just the nick of time,” says Kay.
StrikeForce Technologies 2018 Prospects Expansion into the cryptocurrency and Blockchain space is one of the developments that makes StrikeForce Technologies an exciting pick at current valuations.Demand for security solutions is on the rise given that most digital wallets are usually at the risk of being hacked. Given that very few companies offer security solutions in the space, the company stands a better chance of enjoying fast-mover advantage given its proven security solutions in other sectorsInvestment in the stock should, however, be viewed as a long-term play given that it has been battered to all-time lows.We will be updating our subscribers as soon as we know more. For the latest updates on SFOR, sign up below!Disclosure: We have no position in SFOR and have not been compensated for this article.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
