Airbitz was inspired by the bitcoin and blockchain revolution which put digital assets in the control of the individual instead of third parties.

As such, users are now required to secure data that only THEY should have access to. Not even an IT department, manager, employer, or government should have access to individuals’ private keys as it breaks the authenticity provided by the blockchain.

The process of securing blockchain keys is intimidating, unfamiliar, and unforgiving for the end user and we sought to solve this. Prior to Airbitz, private key security involved the end user writing down random passphrases, securing pieces of paper, or encrypting files on users’ computers and manually backing them up, all without a recovery mechanism.

We are able to give users one account that can secure the data and private keys of all Airbitz supported blockchain applications.

Airbitz provides a software toolkit and mobile app that does client-side auto encryption, auto backup, device-to-device synchronization, and 2-factor authentication for blockchain private keys, with an easy single-sign-on experience for the end user. Airbitz has a strong focus on making this complex security model nearly invisible to the common user. We’ve refined our user experience over the past years deploying our wallet and we can now offer it to the new wave of blockchain applications.

We’ve identified two competitors that have similar technology: Uport and Good Technology. Both competitors have some of the features we offer our users but definitely not as easy to use or comprehensive.

In the case of Uport they are focused on identity and they are limited to the ethereum blockchain meaning their technology only works for applications on that specific chain. In contrast, our security platform is not only blockchain agnostic it can also be leveraged by non-blockchain applications.

Our other competitor, Good Technology, can be used to store private keys but they do not have the requisite experience with blockchains and are not ready for the paradigm shift that is happening in data security. Good is also missing the single sign on functionality and therefore doesn’t leverage an ecosystem of accounts that can be used across multiple independent apps. Their solution has much more overhead, is much harder to integrate and that’s why they focus squarely on enterprise and are generally not found in consumer facing applications.

Our competition also doesn’t have two years of experience of securing millions of dollars worth of bitcoin transactions and doesn’t have an ecosystem of existing partnership for which we provide intercompatibility between apps. We believe that we’re way ahead of our potential competitors and will continue to build out the capabilities of our platform, making it easier to integrate with a variety of different projects as well as make the user experience increasingly easy, beautiful, and secure.

Airbitz puts the ethos of decentralization at the forefront. Our Edge Security model decentralizes security by encrypting user’s data and putting the keys ONLY in the end user’s hand. Should an attacker successfully compromise Airbitz servers, they would only see millions of locked vaults with no keys to open them.. Whats often forgotten about encryption is that what really matters is not just that data is encrypted but who holds the key to decrypt the user’s personal data.

With Airbitz, only the user holds the key and we build software to help them protect, secure, and manage it without Airbitz ever seeing it. In addition we’ve implemented a peer-to-peer, distributed storage network for encrypted user data. This fault-tolerant system helps ensure user data is readily available from all parts of the world, even with the unreliable network and server infrastructure our internet is built on.

Many in our space will give fancy graphs and metrics but the truth is no one knows exactly the true potential of the groundbreaking nature of our industry or how it will play out. And I’m sure by now many of the people reading this have seen the enormity of the potential disruption the blockchain revolution is enabling.

What we do know is that we at Airbitz are at the cutting edge of the blockchain revolution and the only thing in the past we can compare this revolution to, is the rise of the internet.

We believe our market is only limited by the creativity of blockchain developers around the world, and the pace of adoption of these new and exciting technologies. Based on the market potential of just a few of our existing partnerships Augur and Arcade City the total addressable market is over $2 Billion due to the ambitious nature of these diverse blockchain projects. Prediction markets and ride sharing alone are multibillion dollar industries with millions of active users. These are just two of the projects we’re securing not including all the potential projects we plan to secure.

As the world converts to the emerging blockchain ecosystem and away from our old legacy systems, Airbitz will be embedded in more and more projects reaping the benefits of increased user adoption.

Revenue flows into Airbitz from our partnerships. We currently have various enterprise customers leveraging the Airbitz platform in three main categories: white label partners, wallet plug-in services, and SDK (software development kit) integration partners. As of today 90% of our revenue comes from our Whitelabel partners and the other 10% comes from our Plug in services. While white label partners and plug in services are our sources of revenues right now, we expect our SDK integrations to be our biggest revenue driver overtime and will be the focus of our business development efforts.

We very much intend and aim to be profitable in Q1 of 2017. We plan to license out the platform to the apps that are using it in a SAAS model. We project various types of licensing models, but the most straightforward method is a simple license per account per month used on our platform for each of these apps. Our current launch partners are aware of and agreeable to our model.

We fundamentally believe that information is power and at Airbitz we are in the business of empowering individuals with their own private information. We think this is critical to the development of a free and creative society as we move forward in the information age.

As a consequence we’re hard at work everyday creating a paradigm shift in digital security whereby users control access to their own data.