The LAOCON PLATFORM 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.