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:

  1. To leverage on identity management services for the individual based on what the blockchain technology can offer;
  2. 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;
  3. 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;
  4. To allow entrusted third parties which with private details to enrich their services by offering trust as a service;
  5. 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.
  6. 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.

Token Design

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.

Mass-Media

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

Public Institutions can use Persona to authenticate the citizens who need to engage in different processes (tax paying, buying a property, etc.)

Academia

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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daniahya

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