INTRODUCTION
The evolution of the internet has brought about a meteoric rise in the profit margin of businesses and organizations with an online presence. This is occasioned by the fact that these businesses now have an unprecedented access to huge organic database that makes their marketing easier and fruitful. In some cases, internet users unwittingly give out their data when they fail to read the finer prints before submitting data on web pages hence granting these businesses complete access to the data submitted. But most times, our data is collated and stored without permission as we troll the internet in whatever form, be it social media, job sites and in fact, any website at all. Once a log in is made on a website, a digital trail is being created and this can be harvested and used without the owner’s notice, not to mention being paid for it.
With this in mind, it becomes a matter of urgency to have a verified data protection service; one that not only protects internet users’ data but also makes it possible for them to monetize their data.
BLOCKCHAIN TECHNOLOGY
The blockchain technology is a revolutionary tool that is changing the internet space today. Already, it’s making waves and changing the financial industry and the way it’s structured, it’s built to bring inherent changes to almost all aspects of life for businesses, individuals, and governments and so on. As far as data protection is concerned, blockchain technology is a sure fire means of getting total control over one’s data.
DATA PROTECTION VIA PSV ON ALGEBRAIX PLATFORM
The Algebraix platform is set to leverage on the immense powers of the blockchain technology to bring in a change whereby data owners (internet users) safely store, control access and most importantly, monetize their data. This means that businesses and organizations will no longer have free hand making use of people’s data with no authorization, and taking all the profits for themselves.
The Algebraix platform intends to achieve this by creating a Personal Secure Vault (PSV) which has the capacity to hold and secure personal data of users. It is built as a mobile app and serves as the gate way to other services on the Algebraix network.
The Personal Secure Vault has some unique features that makes it the ultimate blockchain-based data security tool and they include:
The ability to securely store personal data locally with state-of-the-art end-to-end encryption system that ensures that data is only accessible to the owner. This means that even the Algebraix network will not be able to access the data stored therein. Only the user can grant access to a third party through a well-crafted smart contract that specifies the access. The smart contract can only be set and executed by the data owner, and the PSV can only be accessed by the owner via private keys.
An integrated digital wallet for storing the Algebraix token, ALX, bought or earned by the user. This will feature different wallets for other cryptocurrencies hence one can conveniently exchange from one cryptocurrency to the other on the digital wallet of the PSV. There will also be an embedded messing system so users can send and receive secure messages on the PSV. The digital wallet also ensures swift receipt and payment for services on the Algebraix network.
Anonymized data system of users’ profile and data run by the PSV with cipher AEX-256 encryption to prevent data compromise. Advertisers create target adverts and product offers with specific criteria which the PSV uses to directly match to user profiles that fit while users will be able to choose which adverts to see and products to go for.
Its important to note that every user have his personal data and profile stored on the PSV app on the user's mobile device; there's no database anywhere that can be accessed by either Algebraix or any other party.
Ability to synchronize across several mobile devices. The PSV mobile app will be easy to synchronize across multiple devices so that at every point in time, the user can have access to stored data for updating, granting permission to others and participating in the other services available on the Algebraix network.
These are some of the features of the Personal Secure Vault and all are geared towards giving users unique and rewarding experiences while using the mobile app.
To participate in the data security revolution, why not join the Algebraix community today so you can finally have total control over your personal data, get to decide who sees it and at what cost to make you data available to interested parties?
Get more info on the Algebraix network here
https://algebraix.io
Or join the telegram group for updates
https://t.me/Algebraix_Data
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