The 21st century is the age of computer data. Everyone in the world produces a multitude of data every day, on social media or on other platforms. It can be undeniably stated that a simple mismatch or an irresponsible use of even bits of data could have catastrophic outcomes. In such times data security is a huge issue in itself. The data held by centralized platforms could be hacked into and corrupted by a hacker or other adversaries. We, as users, give a lot of personal information when dealing with online services and knowingly or unknowingly may allow third-party platforms to access our data. These platforms may not be corrupt themselves but may even not be secure enough to store your data, which puts your personal data at risk. For example, in 2017, Equifax, a large consumer credit reporting agency in the US was hacked, and over 143 million social security numbers were compromised.
Persona is here to become your identity management service that will use the best technologies in the world to keep such data safe. All the user's KYC details on the persona platform are encrypted and securely stored on the IPFS and blockchain.
Features of Persona
- When users give their data on social media they lose any control over it. Persona will put such data back at the hands of the user.
- The Persona platform will keep track of what user data has been shared with what platform so the user will always know who they are actually sharing their data with.
- Blockchain gave the world a decentralized immutable ledger holding system with absolutely no point of failure. The Persona platform strives to use the blockchain to hold the user data, thus securing their data.
- The platform will come out as a web and mobile application with the PIN or fingerprint-based security and 2FA Authentication.
KYC at persona:
KYC at persona is done at two levels. The first level, t he community level KYC , includes, getting verified by specific people on the Persona platform. These individuals will be listed on the Persona website. Each individual can give a 5-30% verification to an individual and the maximum KYC verification that can be done in this way is 90%. The rest of the verification involves meeting any private partner of Persona who can verify your identity.
The professional KYC represents the process when an individual interacts with an entity using the Persona profile that needs an identity verification process. These entities double check the verification done by the persona platform and get the users verified up to 100%.
PRS tokens:
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 Benefits:
Persona aims to be a social identity managing platform. We as users give our data to many websites and platforms where it may or may not be secure. Persona aims to create a secure platform for storing sensitive user information. The platform allows users to verify themselves on one platform (Persona itself) and use this verification on other platforms to complete their KYC.
Keeping user data secure in a database involves a lot of effort and money. Many companies that trust Persona platform could just query Persona to complete user verification instead of themselves spending millions of dollars at creating and maintaining a database. This would eliminate security flaws and the tiresome process of going through KYC for different platforms again and again.
Conclusion
Persona is a great idea that serves a great purpose to all the online communities and simplifies a lot of unnecessary KYC process. The platform, however, will have to create a reputation for other platforms to trust its verifications and attract more and more users to it. All in all, I must say Persona is a unique platform and given its security and features it is bound to attract the online world
Important links:
Website : https://persona.im/
Whitepaper: https://persona.im/documents/whitepaper-v1.pdf
Published By: Asarab
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=2320820
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