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Silo Technologies to Launch Cybersecurity Pilot Program

Published 1 month ago3 minute read

Bullet Blockchain, Inc. (BULT), a diversified software development and BaaS company specializing in blockchain technologies and Web 3.0 solutions, is asserting its leadership in the rapidly expanding Bitcoin ATM industry. Headquartered in Las Vegas, Nevada, BULT controls a significant intellectual property portfolio that includes two crucial Bitcoin ATM patents, obtained through its wholly-owned subsidiary, First Bitcoin Capital LLC. These patents, specifically US9135787B1 and US10332205B1, are fundamental to the operation and security of Bitcoin ATMs and their underlying networks.

A cornerstone of BULT's strategy to enhance security and build trust in the cryptocurrency ecosystem is its exclusive partnership with Sailo Technologies CY Ltd. This collaboration positions BULT as the sole provider of advanced cybersecurity solutions for the Bitcoin ATM industry across the United States. This innovative partnership introduces a pioneering cybersecurity solution specifically designed for crypto wallets, directly addressing the escalating threat of crypto wallet fraud within the burgeoning Bitcoin ATM sector.

The urgency for such robust security measures is underscored by recent data. The FBI reported a staggering 200% surge in crypto ATM fraud over the past two years, with estimated losses in the U.S. reaching nearly $115 million in 2023 from over 4,300 filed complaints. Scams ranging from impersonation and QR code hijacking to ATM terminal tampering highlight critical vulnerabilities that have led to substantial consumer losses. Sailo Technologies' protocol is engineered to combat these threats by offering real-time threat detection for Bitcoin ATMs and crypto kiosks, blockchain-verified encryption for secure transaction paths, and behavioral monitoring algorithms to flag suspicious activity. This technology is designed to make transactions transparent only between participants, akin to standard financial transactions, while preventing tracking, currency theft, hacking, and other cyber-attacks.

In a proactive move to validate this cutting-edge solution, BULT announced the planned commencement of pilot installations for its cybersecurity platform in partnership with Sailo Technologies. The initial pilot deployments are slated for key locations in Atlanta, GA, and Miami, FL. These tests are crucial for validating real-time threat detection and system integrity in environments mirroring the security needs of Bitcoin ATM networks. Following successful pilot testing, BULT intends to expand the deployment of Sailo Technologies' platform nationwide across the Bitcoin ATM industry, providing comprehensive protection against fraud and digital asset compromise.

Beyond its technological advancements, Bullet Blockchain is also focused on aggressive expansion and increasing shareholder value. During its appearance at the Blockchain & Digital Assets Virtual Investor Conference, BULT's Executive Vice President and Interim CFO, Eric Noveshen, highlighted the company's rapid growth from zero to 200 Bitcoin ATMs in under 18 months, with ambitious plans to scale to over 1,000 units during 2026. Noveshen also presented a bullish forecast for Bitcoin, projecting a potential price range of $250,000 to $300,000 within two years, citing institutional adoption, historical halving cycles, and increasing scarcity as primary drivers for this unprecedented growth.

BULT's multi-pronged revenue strategy encompasses patent licensing and enforcement, transactional fees derived from Bitcoin ATM usage, the sale of crypto inventory, and integration with DeFi and Web3 services. Unique in a largely automated crypto industry, BULT distinguishes itself by offering a human-centric experience, featuring walk-in support, dedicated phone assistance, and real-time customer engagement. This holistic approach, combined with the integration of Sailo Technologies' next-generation security solutions into the BULT licensed Bitcoin ATM network, offers stronger security, enhanced fraud prevention, safer Bitcoin ATMs, and robust protection against crypto wallet exploits. This significantly strengthens the value proposition for operators and manufacturers partnering with BULT, extending beyond just the ownership of key Bitcoin ATM patents to include unparalleled security infrastructure.

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