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.
Persona Startup Fund
In order to speed-up the adoption of the Persona blockchain, 12% of the PRS tokens issued in the genesis block are stored for the funding of startups. The fund consists of 12,000,000 PRS, that will help a minimum 10 startups to create their product using the Persona Identity Blockchain.
The funding of these start-ups is managed directly by the token holders. The community will be informed of initiatives needing funding and the members will be asked to have their say in the choice of startups. They encourage startups to develop products which make use of the Persona technology and bring innovation into various fields connected to identity use and management. A set of guidelines will be published, offering information to startups seeking funding and setting the voting criteria for the funding.