Dayta vision is to solve multiple data protection, consent and privacy issues all at once. The team has designed a roadmap to build a secure, easy-to-use and robust personal information Dapp and exchange mechanism within an integrated, digital ecosystem. Our aim to ensure all participants from companies to users protect and profit from a unified personal information blockchain which will ensure efficient data audit and transparent smart contracts and agreements. We in the Dayta project believe that your personal information is yours to consume, withhold, disseminate and manage as you see fit. GDPR and other data protection and data privacy regulations will help with this, especially in relation to marketing consent and 3rd party organisations that manage data.
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A key take away from this is that we as consumers are valuable, our personal
information is valued at more than $2,000 in costs and advertising revenue just to
secure our attention. Add to this the actual goods and services revenues of the
major corporation and you start to see how your data, something as basic as your
email address, snowballs into multi-billion dollar profits.
The market size for this offering includes all adults and appropriately aged children that make use of the following through communication channels, with Digital (e.g. email, Internet), telecoms (mobile, telephone, SMS), physical mail or any other means of communication. For example:
1) Communication between individuals or organizations, whether as a user, customer or employee.
2) Transacting (e.g. purchasing) with individuals or organizations for procuring products or services.
3) Making use of services available without a fee, whether through a person, commercial or charitable organization.
The Dayta decentralized data exchange is implemented in the form of a decentralized application (DApp) on top the Ethereum blockchain. Figure Figure 2 illustrates the high-level architecture and its components. At the application layer three stakeholders can connect to the blockchain using specialpurpose applications:
• The user application components hold the user’s personal data and provide functionalities to verify and share this data.
• Verifiers are provided with components that allow verifying user data and store digital fingerprints of the data on the blockchain.
• The components for data services allow requesting access to data and temporarily store it once authorized.
Dayta DApp will run on the public Ethereum blockchain. However, blockchain technology is still relatively new and technological uncertainty means that one can only speculate on future Ethereum scalability, cost and performance. For this reason, the Dayta team will investigate emerging sidechain technologies, such as Plasma (https://plasma.io/), in order to migrate the system to a purpose-built sidechain, if considered appropriate. The blockchain architecture, consisting in a number of smart contracts, is designed with modularity in mind to facilitate this potential migration.
Requests are queued up in the verification request queue. Verifiers are free to pick up these requests and process them. To this end, a direct communication line is opened off-chain and the verifier is granted temporary access to the data to be verified. The verification process involves KYC checks, that may require further interaction by the user. Once the data has been verified, the verifier calculates a hash and submits it to the data registry. It is likely that at certain moments several verifiers are available to process the
request. In this case, verifiers will be chosen at random from a verifier queue.
• User apps: A web application and a mobile app allow a user to interact with the blockchain. Both apps the data stored on the user’s device and provide the functionality to conveniently request data verification and to reply to data access requests.
• Verifier app: The verifier app allows fetching verification requests from the verification request queues automatically. Once KYC checks have been completed and data is verified, hashes are calculated and send to the blockchain.
• Data services: A system service (daemon) allows data service providers with continuous access to the blockchain. This service hosts the data ceded by users and provides a Remote Procedure Call (RPC) interface that can be used by applications that consume this data.
The Dayta venture is here to help unravel a portion of these inquiries by furnishing you with a base for your own personal information, a record of all organizations that make utilization of your information, regardless of whether it be legally binding (e.g. an advance), consensual (promoting assent) or lawful/gov (e.g. international ID).
According to the GDPR, use of our personally identifiable information (PII) is subject to the following conditions, of which at least one must be met:
• Consent (e.g. marketing consent)
• Contract (e.g. payment plan)
• Compliance obligations (e.g. company to adhere with GDPR)
• Protecting vital interests (e.g. emergency services)
• Legal / Government (e.g. Government services)
• Legitimate Interest (e.g. existing / previous relationship)
Zumar Ahmed FOUNDER & CEO
Laura Feeley CUSTOMER EXPERIENCE AND MARKETING DIRECTOR
[su_quote]Quote This article is writing on 27 march 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: email@example.com Or Whatsapp Us- +13098896258[su_quote]
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