PolySwarm, an IT startup, have uncovered their plans to create the first ever decentralised marketplace for the antivirus industry. The company propose that experts in the field will keep users safe by competing to build the most effective anti-virus software.

Steve Bassi, the CEO of PolySwarm, is also the founder of Narf Industries, an information security firm that specialises in using Blockchain to help further the field of identity management. Bassi is also joined by the ex McAfee CIO Mark Tonnesen, who now works for the business as an advisor.

Current statistics show that cyber crime is one of the key issues that the US faces. A recent report published by Cybersecurity Ventures predicts that the costs of cybercrime will increase by over 50% by 2021.

Cyberattacks are on the rise, and thousands of attacks and threats are aimed at computer systems within the US every minute. Thousands of potential threats often go undetected. PolySwarm argue that businesses\' inadequacies when it comes to tackling cyber crime are caused by the fact that the cybersecurity industry runs via a handful of large corporations. These only address malware commonly known to them, failing to adequately screen and pick up on new threats. The company claim that single-vendors could potentially solve this issue by encouraging duplication of effort, allowing for threat coverage that covers more bases.