When it comes to securely sharing personal data the issues pertaining to it are numerous. Millions of private data is shared each day for instance ranging from the location of the individual to various different passwords for example to social sites. When a person buys a service or a device he or she becomes the sole owner of the data. The owner hand overs the data to the specific company in the belief that they will anyhow mange it properly. Most of the times what happens is these data becomes the subject of threats from hackers. Thus it proves that these companies (Facebook, Google or almost any website they can imagine of) aren’t that effective in protecting personal data. A multitude of laws has been passed in order to minimize the catastrophic effects of these incidents. For instance the Data Protection act. These rules only work to a certain extent.
Persona offers a solution based on blockchain technology that brings back full control of their personal data to the owner. Persona exploits and harnesses the power of blockchain to protect individual’s personal data giving them the sole ownership of their data. With Persona the owner of the data can decide which individuals or companies they need to share it with. Persona’s platform is also a social media platform which inhibits occasions of fake news.
Persona is a fully decentralized platform and this is the main reason why Persona uses blockchain technology. This makes attacking the network more than impossible since the whole network must be attacked at once. The whole network will comprise of millions of network nodes. The next is that block chain is like an elephant, anything written in the ledger is permanent and cannot be changed.
How does Persona work?
Persona consists of several different KYC (Know Your Client) layers. The first is the community layer. In this layer the individual is identified by peers by urging them to check for the identity of the person. This individual peers who take part in the verification process will be rewarded with PRS tokens. Persona will have chosen representatives in main cities all over the globe who will jump start developing the Persona ecosystem in every locality.
These representatives will be openly publicized on Persona’s official website. Furthermore the individual occasions will be broadcasted among the community. If a person manages to achieve a certain level providing verification services to their peers they will be granted more tokens based on the level they reach. The levels are discussed in detail in Persona’s official website.
In order to sign up to the platform you need so legal documents. You will need to offer the platform in order to sign up to the KYC process a passport or a passport or any kind of original document issued by the government. You will also need a photocopy or image of your national ID and also bank statement that verifies your dwelling.
PRS Token Design
The PRS token the inbuilt token used by the Persona ecosystem and the platform makes use of PRS tokens to issue verification services, no verification service in the platform can be done without the use of tokens. The DPoS system of the Persona platform which consists of 51 delegates will forge the tokens circulating them through the ecosystem. If verification's take place through a private partner Persona will pay you with PRS tokens for the verification process. The price paid for each verification will depend on the complexity of the verification. The projected income from the token generation event is from $9.3M to $14M and not less than $9.3M. Each and every fund raised will be used for the own well being and development of the project.
Persona will currently accept only Ethereum. The total number of inbuilt tokens will be 100,000,000 and one PRS token all through the TGE will cost around $0.2. Around 70,000,000 PRS tokens will be allocated for the TGE. 10,000,000–15,000,000 PRS tokens will be allocated for the team composed of the co-founders. About 70,000,000 PRS tokens set aside to the TGE will be divided into first the Private Sale and a three segmented Public Sale which will be explained now. ssAt the time of writing this article the pre-sale has already finished and the public sale was live. About 6,742,502 PRS has been bought already out of the available 15,610,998 PRS. The public sale will finish on 24 Feb 2018.
The initiative idea for Persona struck the founder’s (Stefan Neagu) mind around Feb 2017. He and some enthusiastic minds gathered all they could and started working on March 2017. The whitepaper was released in June 2017 and now the Public sale is to be launched in Feb 2018. At the time of writing this article the pre-sale has already finished and the public sale was live. About 6,742,502 PRS has been bought already out of the available 15,610,998 PRS. The public sale will finish on 24 Feb 2018.
Website: https://persona.im/
Whitepaper: https://persona.im/documents/whitepaper-v1.pdf
My bitcointalk account https://bitcointalk.org/index.php?action=profile;u=1250987