Essentia.One: The Real Power of Data Traffic

Photo credit

Imagine for a minute that you are capable of generating diamonds at will, but instead of using them for personal gain, you give them away for free to diamond merchants. As crazy as the parallels sound this is exactly what every single person on earth is doing with the data they generate online. Digital collected data is a business generating an average of $1 trillion every year to multinationals that profit from it. As users, we give them this data willingly and for free. Mirco Mongiardino, Matteo Gianpietro, and Vladimir Holubovych saw this process with a whole different perspective, and they set out to create a solution to the issue of ownership of all this data.

Working a Unified Solution

This trio of developers created Essentia.One as a project to develop a way to give every single person control and ownership of the data they generate while using the Internet, as well as the power of decision on how the data provided is used. The system is a platform that allows complete integration with all available devices and apps from the past, present, and future to create a new way of interaction between them using decentralized data management. It’s essentially a way to organize the digital identity of a person by offering complete control and timely access to any dApp, digital wallet or the account of any social media network at any moment.

All these functions are handled by a series of features that are already integrated into the framework of the platform. This is how some of them work:

Password and Security Confirmations

Remembering multiples passwords to every single app you use is tiresome, and it can turn into a problem since most apps ask for certain validation from time to time, no matter how many times you ask your browser or cell phone to “remember” the login and password key to access. Anyone who has used the option to recover/re-establish forgotten passwords can relate to this. Essentia.One will allow users to handle all their accounts under a decentralized ecosystem, and it will give them control of a seed feature to have instant access to this information without having to request it to a centralized server ever again.

Identity Management

Essentia gives every user complete control of all their identities on all forms of social media as well as their Internet behavior by letting them create a custom profile that allows them to pick the specific details they want to share, as well as the level of privacy of all the data generated through every interaction during their time online. All the information used by companies to know their customer will be stored using decentralized means and it will be visible only to the owners. Users can also choose to subscribe to new services or get notifications on a topic by setting up specific preferences.

Complete Control of Every Available Currency and Exchange Service

Under the Essentia.One platform users will stop changing wallets to handle their digital currencies. The system is built to handle heavy hitters like Bitcoin, Ethereum, Litecoin and Ripple to all sorts of utilities based on the ERC20 token protocol. They will have the option to keep cold assets monitored using the seed feature. The company has partnered with Ethere delta and Flyp. Me to work the exchange features of the framework by using P2P to control every transaction and keep updated information at hand of the behavior of the market.

Essentia.One is looking to shape the way information is handled by offering the power of independent control to each user and by allowing them to generate earnings while selling their information. Their project is ambitious and deserves a bit more of study. To learn more about it, you can check:
Website
Telegram
ANN
Bounty Thread