PHOENIX, AZ, Dec. 31, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- RAADR, Inc. (OTC PINK: RDAR), a technology and software development company that monitors cyber-bullying and social media platforms with artificial intelligence, commented today on the critical importance of expanding the capability of its proprietary machine learning code to NFTs and other potential online dangers associated with the Metaverse.
An NFT is a pseudonym for a non-fungible token. A non-fungible token can be anything of value in digital form stored and/or validated on a blockchain. Although NFTs are still predominantly related to “artwork” which is what most people know, NFTs can be anything of value stored in digital form on a blockchain. For example, a ticket to a sporting event can be stored as an NFT. A deed to a home can be stored as an NFT. An example that expands the use of NFTs is serial numbers to expensive assets such as a Rolex watch. Imagine that the owner and serial number of a Rolex watch is now secured on a blockchain, the same technology that makes cryptocurrency almost impenetrable to counterfeiting. Blockchain can easily validate the owner of a Rolex watch.
A blockchain is a decentralized, distributed, and oftentimes public, digital ledger consisting of records called blocks that are used to record transactions. A blockchain makes it theoretically impossible to create an unauthorized transaction because of the way blockchains are stored. Each block contains data (such as art), a unique hash (a complicated id number as unique as a fingerprint) and the previous hash. Each block records the previous block’s hash. So to create a fake block, you would have to do two things. First, you would have to re-do the previous work on each block. Second, the majority of people on the block must approve the block. In a real-life example, a famous artist sells a painting via an NFT. He creates an NFT with data about his painting and a hash. The original block is called the genesis block. Imagine now that each time the painting is sold, the sale creates a block with the painting data including the owner’s name, the hash and the previous hash. Imagine now that someone wants to tamper with a block by adding a new block and by saying they are the owner of the painting. Once they create a block, they must then create a “hash”. If the hash was not validated by the blockchain, that fake hash will make all previous hashes and all previous blocks invalid. In order for the fraudster to even attempt to pull this off, the fraudster must then redo the work on each previous block to make all the previous hashes valid (called proof of work). Then, 50% of all people on the block must approve the block. Because each new block must refer to the previous block’s hash, any fake block with a fake hash must include proof of work and must also be validated by the majority of the block.
Blockchains are the backbone of all cryptocurrencies and NFTs and will be a huge part of the new Metaverse. Unfortunately, the technology of NFT’s has attracted predators that are a threat to children such as purveyors of child pornography. Search NFT’s and child porn on the Internet and any reader can find the growing number of articles on the subject. RAADR, a company that is focused on protecting children through its app which is scheduled to be released in January 2022 has begun crawling blockchain networks to integrate RAADR’s suite of machine learning code to scan for certain types of NFT content. This will be the first step in helping parents to keep their children safe in the new Metaverse.
Jacob Dimartino, Chairman and Chief Executive Officer of RAADR, Inc. explained, “Although we are at the beginning stages of our capabilities to scan NFTs in the Metaverse, it is critically important that we begin these efforts now. NFTs will be the next platform to endanger children through the sale of illicit and embarrassing photos via NFTs and it is essential that we are not behind the curve on these capabilities for our suite of apps. We are excited that we can deliver this news to investors. It is important that investors know that we understand this changing world and we expect to stay ahead of the curve in protecting children. It is important that I stress that although we are at the beginning stages of our capabilities to scan NFTs, we are ecstatic about the initial feedback from our technology team.”
For further information, please click the link to watch a short video on the release of the RAADR Parent Monitoring App 2.0: http://www.thebullyapp.com
About RAADR, Inc.
RAADR, Inc. publishes software and apps that protect children who use social media and the Internet. Known as the "Internet anti-bullying company", RAADR produces products that allow children, parents, and school districts to monitor bullying and other threatening behavior on the Internet in real time. Armed with many features including keyword tracking, real time alerts, facial recognition and site filtering, RAADR's apps determine in real time whether children or young adults are the victim of stalkers, bullies and other threatening behavior. Parents love the facial recognition feature because in seconds, the app allows parents to upload the child's image and parents can be armed with one of the most powerful tools available to receive alerts each time their child's image appears on a social media site. RAADR Parental 2.0, which is the parenting app that helps parents and adults protect children by using real time monitoring on social media will be released sometime in late 2021. Bully RAADR which arms the kids with RAADR's powerful suite of products allows children to protect themselves and other kids from threatening and dangerous behavior on the Internet and social media will be released by the Spring of 2022. RAADR Inc. is committed to making our world and social media a safer and better place for kids and young adults.
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Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report and for the most recent fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with OTCMarkets.com
Media Contact:
Jacob Dimartino,
jacob.d@raadr.com
