ICO Spotlight: Interview with Martin Baros, Founder of Cryptelo

Coinschedule: So data protection is the buzzword of Cryptelo. How will cryptography protect our personal data?

Cryptelo Platform technology combines supreme encryption and blockchain-based key management that allows for data mirroring. This means users can share data by giving access, without it ever leaving their hands, and no third party can access and read data without permission. You can also deny access to your data at any time, even if you’ve already shared it.

Coinschedule: Apart from the privacy and security element, what do you think are the other pain points of your end-customer?

Security shouldn’t complicate the end-customer experience. What we do is provide an invisible layer of security to the end customer, without disrupting the experience. The Cryptelo Platform is easy to implement to any program. So we also address the ease and simplicity that developers need. They don’t need advance cryptography skills. But the ultimate benefit of invisible security is what is provided to the end-customer.

Coinschedule: Explain the blockchain technology behind Cryptelo and how does your platform integrate it?

Cryptelo Platform provides the missing piece in the blockchain world by enabling the full potential of the smart contract, so files can be protected, controlled and monitored. For example, a company can attach agreed upon PDF contracts or provide a passport scan with proven authenticity, with the assurance of privacy and the certainty of automatic unsharing after a certain period.

Actions such as synchronizing data versioning shared among multiple parties and multiple storages need one source of truth. Multiple parties need to share data while keeping within a specific set of rules. For example, banks can keep a copy of my ID for 5 years, but they are not allowed to share this with anyone else without my approval. I’m also not able to change my mind and remove permission to see my ID.
These are the use cases where an unchangeable distributed ledger comes in handy. We’re leveraging the power of smart contract to enable parties to define their own rules for controlling and monitoring data.

Coinschedule: When you say encryption as a service, what are the use cases your team has identified?

There are many. Ensuring that data storage and transfer is GDPR compliant is perhaps the most pressing use case. There’s protecting cryptocurrency via secured key storage. There are email and social – protecting data on social media and securing email through state-of-the-art encryption and blockchain-based key management. There is a use case called “second opinion” in medical, where temporary sharing of personal sensitive data is a huge issue. Cryptelo Platform solves this easily.
There’s adding an extra security layer on top of cloud storage. And also applications for IoT and M2M.

Coinschedule: Interesting! What type of encryption does Cryptelo offer? Does the company own any data storage houses?

Cryptelo Platform uses end-to-end encryption. Simply put, this means that when data leaves your computer, it’s changed into undecipherable packages. From that moment, it doesn’t matter who sees it or where it’s stored because no one can understand what is in it.
Cryptelo doesn’t own data storage houses. Our data protection is so strong that data can be stored anywhere without risk of data leakage. In fact, Cryptelo was conceived as a solution to the security flaws inherent in data storage and transfer on the internet.

Coinschedule: Cryptelo has another vertical in the product line, Cryptelo Drive. Can we talk about it?

Sure. Cryptelo Drive is our enterprise product. It is an encrypted virtual drive, where our customers’ most sensitive data can be stored. Our customers can share documents with colleagues on any device. Any changes in a document are visible to anyone authorized to view it, so they will always have access to the most recent version. Cryptelo Drive is very easy to use, yet virtually impossible to compromise.

Cryptelo Drive is available as a cloud service or as a standalone Cryptelo server for your home or office.

Coinschedule: Does Cryptelo have any customers on board?

Yes! Unlike many ICOs out there, we have a product with paying customers. Our current customers come from mainly the finance and law sectors where data security is extremely important.

Coinschedule: Also, brief us a little about Cryptelo Token and the technology behind it.

Sure, the Cryptelo Token is how we plan to make the Cryptelo ecosystem immediately functioning. Our existing Cryptelo Drive service will be charged in CRL tokens. Once the Cryptelo Platform is turned into open-protocol source code at the end of 2018, service users will be charged in CRL tokens. The Cryptelo Token is a native cryptographic project token, which gives participants the right to access multiple services on the Cryptelo Platform.

Coinschedule: We are also interested to know some details about the token pre-sale and sale.

Our pre-sale began on January 19 and we raised over $1 million in the first 48 hours. The minimum contribution is 40 ETH and pre-sale buyers also get a 100% bonus. The public sale starts March 15 and buyers will get a 25% bonus. One thing that is important to know is that the exchange rate of 1 ETH to 12 500 CRL was set when the crypto exchange was at a high. It has since fallen, but our exchange rate is set, so it is a value for buyers!

Coinschedule: Will you kindly run us through some of the names behind the scene? Your amazing team!

We have one of the most brilliant minds in cryptography behind Cryptelo. Leading cryptographer and white hat hacker Dr. Vlastimil Klima has been with us from the beginning. He has 35 years of professional experience as a cryptographer for the Federal Ministry of Defense as part of Czech National Security. His government and commercial projects include the creation of the world’s first on-the-fly encryption system for Windows 95(../98/NT/2000). Not to mention that he broke SSL security. As CEO, I’ve been in the information security sector for 15 years and has developed multi-platform security applications for mobile banking. We also have Dite Gashi, our blockchain architect. Dite has successfully built tools that leverage blockchain technology for investors. And our CTO Jiri Zuna has been with us since the inception and creation of the platform. And there are many more amazing people who are part of Cryptelo, including our advisory board: Jeff Burton, Philip Staehlin, and Cedric Maloux.

Coinschedule: So in the end, are there any other exciting future partnerships? We’re excited to know.

We are currently talking to a few ICOs about potential collaboration in terms of security issues and mainly about future business opportunities.

Coinschedule: That sounds exciting Martin. We’re really looking forward to seeing it grow big and better.

DISCLAIMER: Opinions expressed by Coinschedule Blog contributors are their own.

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Hira Saeed
Founder of Tech Geeks Pakistan and Digital Doers. Hira is also a public speaker and columnist who shares her views on Startups, AI, chatbots and Blockchain technology on VentureBeat, The Next Web and Tech In Asia.