ChainIT Targets $40 Billion AI Fraud Threat with New Authority Protocol

The company’s "Provable Authority" white paper argues that traditional security measures—such as passwords, cryptographic keys, and biometric signatures—are no longer sufficient. While these tools confirm identity, they fail to verify whether a specific person, business workflow, or autonomous AI agent actually holds the permission to execute a particular movement of funds or data. By the time a transaction is flagged by monitoring systems, the capital has often already left the account.

ChainIT’s approach introduces a pre-execution protocol that binds identities to organizational roles and specific transaction parameters. According to CEO Jeremy Blackburn, the system aims to solve the "agentic authority" problem, where autonomous systems operate at machine speed across multiple platforms. The protocol requires that every action be vetted against deterministic controls—such as transaction limits and human approval requirements—before the system permits a transfer. CTO Matt Koepp noted that the framework’s primary breakthrough lies in decoupling authentication from execution, ensuring that an AI agent’s proposal is automatically blocked if it falls outside defined scope or capacity.