faisal: Persona- a great solution for Identity Management

introduction

On this occasion I will describe the challenges faced by various organizations regarding the KYC process and solutions proposed by Persona. Persona is a blockchain-based identity management solution that allows individuals to easily update their shared data with third parties and reduce the efforts of corporate clients to keep their data up-to-date.

Persona uses ARCH blockchain technology and other state-of-the-art technologies to offer secure and complete identity solutions. This product complies with GDPR requirements and provides secure storage, sharing and data processing.

Persona is designed as a decentralized app without a single point of failure, storing all encrypted records Individuals have control over the details of the details they want to share, with whom they share and for how long. With the launch of Bitcoin at the end of 2009, Satoshi Nakamoto offers a glimpse of the technology underlying the network's decentralization, blockchain

What is Persona

Persona represents the solution for identity management, aligned with the latest data protection regulations. Its scope is to empower the customer and grant him / her the control over their personal data as well as the means to secure access to their private details.

By using Persona, the individual spends less time updating their data and service providers can access the latest version of the customer data.

The main purpose of Persona

To utilize the identity of management services for individuals
based on the blockchain technology that can be offered.
To protect individual personal details. Although it is clear that
individuals need to provide details to various entities
they have no control over it after that share. Persona puts people back into the driver's seat.
Empower everyone and give them power over what they share and with whom when it comes to their personal identities and details.
Allowing third parties entrusted with personal details enriches their services by offering trust as a service.
To prevent false news, by providing a decentralized identity management system, Persona will provide the level of trust we all need when relying on news Based on the public Persona profile of each creator, we can track the news to the source.
To streamline the onboarding process because someone may have been checked by several entities listed in the system.

The main points offered by blockchain technology:

Replace the middleman: There is no need for a trustworthy side, which can and can be trusted by both parties involved in the transaction.
Decentralization: there is no single point of failure, when attacking the network is almost impossible.
Immutability: records written in blockchain exist forever, can not be changed.

Persona uses the blockchain feature, enabling companies to offer KYC services to third parties and benefit from their respective services. Verification The process has two levels: Community and Professional KYC.

Instructions are divided into several levels, based on the number of verifications they provide. The maximum percentage that a person can get with community verification is 90%. The remaining 10% can only be achieved once the private partner (institution, utility provider or company) recognizes the validity of the data.

Based on their Persona activity and shares, the individual who verified the service to someone else, can go up to 30%. This means one can only see 3 people who can offer a 30% approval rate to achieve a 90% verification rate.

The list of documents required to provide KYC is:

ID or passport or government issued document (original) Copy or picture of your ID
A bank statement or an invoice that proves where you live
The documents will then be stored in the IPFS and signed by both parties checkers and checks, each time the person is checked. KYC professionals represent the process that individuals experience when engaging entities that require the identity verification process. This entity, once.

Architectural Technology (blockchain design)

Persona will use Blockchain (Distributed Ledger Technology) technology to manage user permissions, approval transactions and identity proofs. We will deploy our own blockchain, called "The Persona Blockchain" which has the following characteristics:

DPOS blockchain with 51 branch delegates from capchain ark (ark.io)
Blockchain will be public and will feature interoperability with other blockades via Smart Bridges. Smart Bridge allows blockchains to communicate between information that is interconnected and otherwise distributed.
Persona will integrate natively, at the blockchain level, a solution such as shared IPFS and file documents between users.

The case of Persona GDPC usage

GDPR represents the European Regulation, which means to strengthen, unify and act as a counterweight to data protection for all individuals at the European level. It was selected and adopted in April 2016 with a 2-year transition period, effective from 25 May 2018.

Possible consequences of non-compliance with GDPR for companies are:

Position and notoriety Risk - Implementation of GDPR rules with obligations set out to inform authorities when any data Violations occur, will result in increased law enforcement activity. The first to be exposed is the market position and reputation of the company, which will be compromised.
Geographic Risk - The new rules cover all companies and organizations that offer goods and / or services to the EU market or that monitor the behavior of EU citizens to offer goods and / or services. Here also includes all of the company's data analysis
Sanctions - Significant sanctions of up to 4% of annual global turnover or € 20 Million, whichever is greater will apply to companies that fail to meet the new GDPR regulations.

Calendar Sales Schedule / Sales Token

Personally: 15.12.2017-15.01.2018
General Sales I: 23.01.2018-30.01.2018
General Sales II: 01.02.2018-08.02.2017
General Sales III: 09.02.2017-16.02.2018

Token Distribution: 30.03.2018

Persona Token (PRS) The number featured tokens will be 100,000,000 PRS. The price for one PRS token is $ 0.2 The total allocation for 100,000,000 PRS is:

70,000,000 PRS is allocated to TGE. 15.000.000 PRS is allocated to a team consisting of the founders. tokens allocated to teams will be held for a period of three years, broken into annual payments as follows: