LAOCON will develop an open platform that accumulates and verifies all sorts of cyber-related knowledge against the increasing number of attacks and methods being used in cyberspace. It will help provide a blockchain technology enabled version of a bug bounty program. An application developer (whether enterprise or individual) would upload their web service or application onto the platform with a reward (LAO tokens) that incentivize white hat hackers to conduct security tests. White hat hacker(s) that succeed would provide a report on the LAOCON platform, documenting the vulnerabilities of the web service/application. The developer may decide to view the report by distributing the reward.

LC Token (LAO) is a mintable ERC-20 token which is issued mainly for the purpose of using value distribution of Bug Bounty.