Data owners continuously lose to data houses that use it to generate income for their financial growth without the consent of the data owner. Meanwhile, data creators don’t have control over their data; giving a way to data houses or any internet user to be rewarded over someone else’s data. Meanwhile, data is sometimes being misuse through the signing up on platform online by sharing of Emails, Names, Addresses and lot more. To end this aforementioned situation, their came a brilliant platform idea called “Your Data Safe” created by a great team lead by Phil Chapman.
What is “Your Data Safe” (YDS)
YDS is a data reward platform based on GDPR which eradicates data piracy, giving data owner the full control over their data. The platform is built to create meaningful change in the Data Industry and redistribute the value of data back to its owner. YDS created a medium where data creators have an opportunity of being rewarded for sharing data. To bring an end to data breaches and misuse, YDS team realized a regulation is needed to fight the issue at hand by making YDS a GDPR (General Data Protection Regulation) Compliant Data Management & Rewards Platform. GDPR is an EU regulation that requires companies to comply with customer privacy requests, it came into force in 25th of May, 2018.
AIM
- YDS created an avenue where rightful owner gains back control over personal data.
- Assurance of data security.
- To teach and assist companies in GDPR compliance.
- Transfer facilities and secure storage.
- Host of GDPR services including Data Consultancy services and Virtual DPO for YDS clients .
How it works
· User signs up for YDS profile.
· User profile “Know Your Customer” (KYC) verification process.
· User then does the selection of an interested company to share their data with.
· Users having an option of adding personal information into their profile, like contact details, social media links, renewal date, alongside any other personal information, depending on which companies and brands they like to be contacted by.
· User proves the newly added data validation via a process called “knowing me Knowing you” by uploading of relevant document. YDS Token is given to Users as a reward for using personal data and a higher reward level would be given if users add more pure data their consumer profile.
· Users may wish to go in for direct target marketing from partnered brands for higher bespoke rewards for answering brand related questions as the list of data sets grows.
· Users can only spend all YDST reward within the YDS platform or withdrawn to an exchange to cash out.
YDS Token
YDS Token (YDST) is an ERC20 token smart contract, based on blockchain, created to be used and fuel YDS platform for its clients through the economy principle of demand and supply. Any erc20 compliant wallet such as My Ether Wallet, Parity, Metamask and Trustwallet.. etcetera, can be used to safe secured YDS Token. YDS Token will be an added advantage to users by getting it as a means of reward through their behaviors and data sharing on d platform.
TEAM
USEFUL LINKS:
Website: https://yourdatasafe.io/
Twitter: https:// twitter.com/yourdatasafe
Bitcointalk: https://bitcointalk.org/index.php?topic=4713762.0
Facebook: https:// www.facebook.com/yourdatasafe/
Linkedin: https://www.linkedin.com/company/your-data-safe/
Medium: https://medium.com/your-data-safe
AUTHOR’S bounty0x Username: tumi2000
Quite a revolutionary platform.. This was a good read