With the rising increase in the amount of data being moved around on the internet nowadays, there is a certain risk that we all have to take as it is very vulnerable on getting hacked or being leaked.
There has been not much changed with the way we use and transfer data over the Internet since the time it was first introduced. There have been a lot of data leaks and sites being hacked in the recent days with the increase in the usage of Internet and its services. Nowadays, in some way or the other, one tends to use the Internet without even realising it.
Basically, nothing ever happens without the use of the Internet as it enable cross continental transfers and transactions. Many companies have risen and fallen with the loss or gain of data. Information is power in today's world and that means those with the most information hold the others in their palms.
Many of the companies are now only realising the importance of data security, there have been a drastic rise in the attack rates. They are now spending a significant amount of their budget in order to retrieve their lost data, be it due to accidental deletes or leaks or attacks. They could've just prevented this in the first place and there is a saying, it is better to prepare for preventing it rather than trying to cure it once it has attacked. Billions of dollars are being spent in hiring data analysts, cybersecurity specialists with not much of progress being made in the field of securing data.
This is basically the cause of current technologies, which in order to solve, we'd have to change most of the frameworks and rules and infrastructure in place. But with the introduction of Blockchain and the features that it provides, especially the ability for increased security with the existing infrastructure.
Memority Platform
They plan on solving the above mentioned problems by implementing the Blockchain Platform to provide the storage of data on it. This provides all the benefits and features that it brings along with it. This solves most of the above mentioned problems as it means that the data stored is really secure on the Blockchain, with the only ability to access it is via the use of Token that is assigned to it.
This also means that the platform is more transparent and is self-sufficient rather than being a centralised data storage organization who tend to change the rules and framework according to their will and the power of say lying in their hands rather than in the hands of users. This means that they don't have to rely on trusting some corporation blindly.
ICO & Team
They plan on powering their platform with the introduction of Memority (MEM) Token which is based on Ethereum's Smart Contract Platform. The data stored on their Blockchain can be only accessed by using this token. Their Token Sale is currently in progress with decreasing periodic bonuses and will end on either 30 June or if Soft Cap is reached. It requires for you to be Registered, Whitelisted and KYC Verified in order to participate in the ICO.
The Founders and rest of the team has adequate experience in Software Development, Full Stack Development, Front-end and Back-end Development, Blockchain, HR, Community Management and Design respectively. The advisory board consists of renowned and experienced Business Owners, Investors, Entrepreneurs who also bring along their expertise in fields of Legal Advice, Business Development, Blockchain, Investments, Finance and Product Marketing.
Conclusion
They seem to be enjoying the initial success of their ICO where they have already reached their set Soft Cap 7 days earlier to the ending of sales. They have a really diverse team with good mix of advisors.
They have to take in mind that this is a highly saturated field with many players and the fact that there is a lot of competition from the traditional as well as the crypto space. They must not let the ICO success get to their heads and must remain focused on increasing their visibility and user base in order to gain enough market traction to stay in the market.
Website -- https://memority.io/
Whitepaper -- https://memority.io/docs/whitepaper_memority.pdf
ANN -- https://bitcointalk.org/index.php?topic=3952669
Telegram -- https://t.me/memority
Published by -- smithjones
Profile link - https://bitcointalk.org/index.php?action=profile;u=1936039