Persona
Zero Knowledge Identity Blockchain
This article aims to take a closer look at the Persona Token (PRS), which uses the ARK-Blockchain technology. The TGE started already and the Token Distribution is planned for 30.03.2018. So let’s have a look at the Whitepaper, Executive Summary and the Website to find out what makes Persona worthy.
What is Persona?
Persona represents the solution, not only for identity management, but also the alignment with the latest data protection regulations.
The recognition and empowerment of the customer is, in fact, a priority conviction of Persona. This can be established, not wholly by granting the customer the control over their personal data, conversely by providing the means necessary to secure access to their private details.
The use of Persona allows everyone to spend less time updating their data, while the service providers have the ability to access the latest version of the customer data.
Persona leverages the blockchain features, allowing a company to offer KYC (Know-Your-Costumer) services to third party as well as benefiting from each other’s services.
What are the Technical Descriptions?
- Use of the Ark-technology → Fork of ARK
- Delegated Proof of Stake (DPoS)
- 51 active forging Delegates
- 100 Million PRS — Seeded Genesis Block
- Multi-signature accounts
- Block reward: 8 PRS (1st and 2nd year, then half)
- The blockchain will be public and features interoperability with other blockchains through SmartBridges.
- Persona will integrate natively, at a blockchain level, an IPFS (Inter-Planetary File System)-like solution for sharing documents and files between users.
How about the Verification process ?
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.
The constant requests from companies highlights the ‘Know Your Customer’ (KYC) process, simply because it verifies and acknowledges one’s identity when developing business relations with them.
The process has two levels:
- When the individual engages any entity that requires an identity verification, then comes in play the professional KYC, representing this process.
- The community KYC represents a common effort, where people are encouraged to validate each other’s identity. By empowering community checkup, we believe that we will make people evangelize further the blockchain, while permitting them to update their details.
TGE (Token Generation Event)
In the following you can see the timeline for the TGE:
The graphic shows, how important it is to participate, the sooner the better, simply because of the discount for early participants in the TGE.
You can join the Pre-Sale here. Persona accepts Bitcoin, Ethereum and ARK as payment.
What are the main goals of Persona?
- It is based on the blockchain technology’s offer, that the identity management services for individual is leveraged.
- It is clear that individuals have to give out their details to various entities (any visited Website), and they have no control over it, which proves how vital it is, to protect and secure the personal details. Persona allows individuals to be in control again, calling their own shots.
- It is crucial to empower each person, when it comes to their identity and private details, and to give them control on, what exactly has been shared, where and with whom.
- Trust represents the main service that allows entrusted third parties with private details to ameliorate their services.
- It is without a doubt decisive, to provide a decentralised identity management system, to prevent fake news. Persona offers the trust and assurance needed concerning our reliant on news. News that can be tracked down to its source, based on the public Persona profile of any content creator.
- Since an individual might be already checked by some entity enrolled in the system, it is important to streamline onboarding process.
What are its features ?
- Single Identity Management stress-free:
For a hassle-free identity management, Persona uses the power of blockchain technology. It is compared to, not only a single time sign-on to all useable websites, but also the source for the futuristic and currently unusable web application.
2. The community is here to support you:
Any Persona notaries near you, gets your identity checked up to 90%. Especially that your digital identity is based on cross-verification, done by various entities. The 10% left is based on a KYC process, performed with a corporate partner, which is a service provider, that you are already enrolled in.
3. Your personal details are yours, and yours only:
You are the sole owner of your own details and data, and in order to access a service or a device, you must agree to share that. The entrusted party with these data is there to facilitate any action necessary to protect you.
4. You are in the center. Let’s build from there:
Persona assures your safe interaction with the outside world. You will be able, not only to create your own profile based on your data (medical records, fitness progress, social media accounts..), but also to give or revoke access to your own details, however you see fit.
Timeline
The timeline looks promising, but see yourself:
Use of the raised funds
The estimated income based on the Token Generation Event is between $9.3M and $14M. The raised funds will be used for a period of at least three years, spread into the following categories:
- Software development (Blockchain Development ‘IPFS Implementation’, SmartBridge Development, Mobile and Web development and Maintenance)
- Legal fees (GDPR (General Data Protection Regulation)compliance analysis, Company Certificates, legal support, etc)
- Business development (take part in top blockchain and fintech events around the world, establish business relations with companies that are interested in implementing Persona).
- Audit of the procedures and setting-up a legalized notary system.
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.
I wrote an article about the Ark Community Fund (ACF) which is different to this Fund, because the Persona Startup-Fund is not from the community for the community, it is from Persona for potential Startups.
Other fields to use Persona
- Subscription-based Services
- Payment processors
- Academia
- Mass-Media
- Public Institutions
CO-Founders
Before investing in an ICO / TGE it’s important to have a look at the CO-Founders:
Stefan has extensive experience in the financial sector. He has been working for ABN Amro and the Royal Bank of Scotland, where he was part of major projects such as migrating to a new core banking system and implementation of the internet banking application.
Ioana has found the perfect balance in life by combining her vocation of creating comprehensive software with her avocation of addressing the world’s humanitarian needs. She loves taking up challenges while developing and growing innovative projects into real-life products.
Dan is an experienced tech entrepreneur, cryptocurrency enthusiast and a blockchain developer implementing smart-contracts applications on Ethereum for numerous ventures raising capital through Initial Coin Offerings (ICOs).
Besides the CO-Founders there is a Team and Advisors, you can find out more about them on the Website.
For further information it’s always advisable to read the Whitepaper yourself.
Further Information:
BTT : https://bitcointalk.org/index.php?action=profile;u=1103736
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