Storing, protecting and sharing data has always been a problem in the internet world. Blockchain is probably the most dangerous place in terms of security. We all need to protect our data ourselves or just rely on a platform to do it for us. It is obvious that it is really difficult to share our data with others or let anyone protect on behalf of us.
However, here comes Datafund. It will be the most reliable platform you ever used. The team behind it is a mixture of best expriences and experts in their fields.
Datafund project works actually as a protocol and a distributed application (dApp) that protects private data and provides safe storage also empowers provable individual data flow. Information is shared anonymized or onto the basis based on an agreement between parties.
Since Datafund is a European based project (with international ambitions), it is going to be compliant with a brand new regulative from the EU that shields people -- that the General Data Protection Regulation (GDPR).
The processing of personal data must be made to serve humanity. Due to that GDPR is being embraced by us since it's among the privacy security regulations that provides the route for people to recover their information. Once Datafund protocol is compliant that is GDPR, they estimate that authorities are simple to satisfy.
A solution that is decentralized puts the person while enabling an exchange of information. Additionally, employing blockchain technology allows for the production of an"individual-centric" procedure which permits unprecedented financial performance for all parties involved. The protocol is constructed with the intention to become blockchain and technology agnostic as far.
Nowadays, companies got customers without any rights or who aren't mindful of the faith, occasionally with a few information on a single side, whereas on the opposite side are companies and digital solutions which have enormous amounts of (private ) data and hardly any rights to utilize them. Applications and worldwide services are now based on data are currently using the info. In addition to that, without sacrificing transparency, efficacy could be improved.
Blockchain along with other distributed technologies together with more rigorous data security regulations (e.g. that the GDPR from the EU) are developing a tumultuous momentum from the ecosystem linked to the industrial exploitation of personal information. Personal information is getting an advantage and people feel that on this foundation a completely different market will grow, producing business units and value generation transactions much like those we all know from conventional assets.
Information resources appreciated and its derivatives are generated, saved, accentuated, blended, transmitted, traded or destroyed. Datafund feels that the market of data will grow around three factors -- providers, data consumers, and data owners. Any participant at the information ecosystem is a version of one another.
Datafund believes that enabling and rewarding data owners contributes to entire version efficacy where as decentralisation allows to get a bigger amount of players to take part in the value production. The system efficiency advancement that is pictured needs to build additional significance for many participants to become rewarded.
The team is estimating that this sort of installation can actually be accomplished by using blockchain along with other distributed technologies and also may also end up being profitable for three elements of their value series. Datafund's objective is to create a complementing along with protocol software to optimize the stream between both things, valuing the requirements.
Some of the important links of Datafund are here:
The website: https://datafund.io
The whitepaper: https://docs.google.com/document/d/1PzfN5lPzzYA_c72KNkq3-568NBluF12U63HQPH2bPsM/edit?usp=sharing
Writer: asakura7x @ bounty0x