Persona – the solution for identity management
Persona represents the solution for identity management, aligned with the latest data protection regulations. Its scope is to empower the individual and grant them the control over their personal data as well as the means to secure access to their private details.
The main goals of Persona are:
- To leverage on identity management services for the individual based on what the blockchain technology can offer;
- To protect individuals personal details. While it is obvious that individuals need to provide their details to various entities(Facebook, Google or any website they visit), they have no control over it after sharing. Persona puts individuals back in the driver seat;
- To empower each person and to give them the power on what it shares and with whom when it comes about their identity and private details;
- To allow entrusted third parties which with private details to enrich their services by offering trust as a service;
- To prevent fake news, by providing a decentralized identity management system, Persona will provide the trust level they all need when they rely on news; based on the public Persona profile of any content creator, they can track down news to their source.
- To streamline onboarding process since an individual might be already checked by some entity enrolled in the system;
Security and Data Safeguarding
Given the fact that there are two components of the product, layered on top of each other, Persona is safe to use.When registering with a provider, the physical presence of the individual is a prerequisite in order to share their data with the company.
Persona is composed of three segments:
– The blockchain which holds the transaction data and IPFS for storage
– A web app and dashboard for the individual to use
– A mobile app which helps data management
The mobile application’s security is based upon:
– PIN-based login
– Optional fingerprint scan
The Web application’s security:
– 2FA Authentication
Once the user creates his identity, the data stored is secured by the cryptographic algorithms of the blockchain. There are numerous reasons why blockchain is more secure than a centralized application: lack of a single-point of failure, no-prone to human errors or data stealing, etc. By saving the user data on the blockchain and not in a centralized application/server, Persona offers the first CaaS (Customer-as-a-Service) solution on the market.
The PRS token is an utility token that is used by the platform in order to issue verifications. For each verification PRS tokens are used. The tokens circulate in the environment and they will be forged through a DPoS system with 51 delegates, similar to Ark. When verifications take place and the initiator is a private partner, they will pay PRS tokens for the verification. The verification price will differ based on the complexity of the verification.
Persona Use Cases and Industries
Persona blockchain scope is to empower individuals claim and own their personal details in relation with different 3rd parties. Once an individual has claim their identity they can require community verification. The higher the percentage of verification is, the higher the trust for that person is.
Industries able to use Persona
Subscription-based services and Payment Processors
When enrolling with a subscription-based service which requires a proof-of-identity or address or when buying items online, Persona can be used by a customer in order to authenticate himself/herself and share their beforehand verified data.
Persona is the tool needed to fight fake news. Social networks and and content/publisher companies can use Persona to prove the source and identity of content creators.
Public Institutions can use Persona to authenticate the citizens who need to engage in different processes (tax paying, buying a property, etc.)
Using Persona, any author of a Paper can quote another and information can easily be tracked from beginning to end, thus minimizing plagiarism.
The PRS token is a utility token, that is used by the platform in order to issue verifications. For each verification PRS tokens are used.The tokens circulate in the atmosphere and, if needed more will be created as the platform becomes more mature.
The ICO begins on 16 January and ends on 16 February 2018
The seeded number of tokens will be 100,000,000 PRS.
The price for one PRS token is $0.2.
The total allocation for the 100,000,000 PRS
– 70,000,000 PRS allocated for the TGE
– 15,000,000 PRS allocated for the team composed of the co-founders.The tokens allocated to the team will be vested over a three-year period, split into yearly payments as following:
– 100% at genesis
– 30 minutes after 12 months
– 30 minutes after 24 months
– 30 minutes after 36 months
– 12,000,000 PRS allocated for the Persona Startup Fund
– 1,000,000 PRS allocated for the advisors. The tokens allocated for the advisors can be vested over a period of 6 months
– 2,000,000 PRS allocated to the bounty.
The estimated income based on the Token Generation Event is between $9.3M and $14M (cryptocurrency equivalent).The raised funds will be used for a period of at least three years, spread into the following categories:
– software system development (Blockchain Development IPFS Implementation,SmartBridge Development, Mobile and Web development and Maintenance)
– Legal fees (GDPR compliance analysis, Company Certificates, legal support,etc)
– Business development (take part in top blockchain and fintech events around the world, establish business relations with companies that are interested in implementing Persona).
– Audit of the procedures and setting-up a legalized notary system.
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