Nowadays, in the era of development of information technologies, data have become significantly important. This information is used by large corporations to release new products and analyze the market. At the same time, a big share of personal information is obtained illegally. This means that when registering in a social network or on a web site, a user leaves personal information that can further be given to a large company. Often, such data can be used in fraudulent schemes to gain access to bank accounts and withdraw the funds. At the same time, not only average users, but also small companies are at risk.
Essentia platform will help protect commercial companies and users from illegal use of their personal information.
Project’s goal
Primary goals of Essentia platform are as follows:
- to protect personal information;
- to provide possibility to manage personal information;
- to provide possibility to have profits from selling personal information;
- to provide possibility to exchange personal information between companies and various organizations.
How it works
A peculiar feature of the platform is use of model architecture. In other words, users will have the option of scaling and management of personal information.
The platform functions on the basis of ESS-ID, a system of users identification. This system will be used to upload personal information and digital assets to a decentralized storage, which will ensure maximum protection from hacker attacks. To manage ESS-ID users will apply software that can be installed on PC and smartphone. This means that every member of Essentia will be able to manage his personal information in a convenient way and sell it to a company of his choice.
ESS-ID can be used to store:
- virtual wallets;
- access keys;
- documents;
- person identification data.
A system of reputation will be used on this platform. Companies and users will be credited with reputation for completing certain actions. Therefore, organizations like banks and insurance agencies will be able to monitor who to provide their cervices with. At the same time, users will know what company is better to choose.
ESS tokens will be the primary resource supporting functionality of the platform. They enable a number of options offered on the platform.
For instance, ESS coins can be used by average users and companies to increase the volume of data storage since it is limited by default. Also, these coins can be used to buy users’ information with purpose of its further use.
ESS coins can be obtained during ICO, sale of personal information, or when taking active part in operation of the platform.
ICO dates and details
Preliminary placement of ESS tokens is scheduled for April 30, 2018.
Cost of 1 coin is 0.000066 ETH; project’s hard cap is 31.9 million dollars.
Conclusions
The idea of selling personal information and its safe storage is one of the most topical nowadays. However, this platform has a competitor in this area, a project called Datareum, which is now at the stage of ICO. At the same time, it should be noted that unlike its competitor, Essentia is supported by such big players on cryptocurrencies market as:
- Gnosis;
- Ethereum;
- EtherDelta;
- Mysterium.
It should be noted that the platform already has a minimal functional product that can be checked on the official web site.
All these factors make this project favorable for investment.
The site and all the documentation can be found at the links below:
Site | Whitepaper | Telegram | ANN Thread
Links to my accounts:
/ Telegram / Bitcointalk /