ALGEBRAIX: GIVING INDIVIDUALS THE POWER TO SECURE AND MANAGE THEIR PERSONAL DATA

emmy92 (42)in #steemfollower • 6 years ago (edited)

Most times, I wonder how people get to know my email address, spam my mailbox with all sorts of emails until I realised that most of our data, if not all, aren't secured or protected.
As we jump from one website to the other in search of pieces of information or as the case may be, so did our data exchange hands with people and organizations.
There is a reason why it is called personal data. It is called personal data because it ought to be private, we can only give it out if we wish.
This has been one of the disadvantages of accessing the most website or even going online.
But that story is about to change for the BEST.
A project unique in all ramifications with no iota of doubt is on the verge of taking care of online privacy and data security (personal data).
It is no other project than ALGEBRAIX.
First, what is data? data can be defined as a digital footprint which embodies all that pertains to a person or all that defines a person, it can be Name, Date of birth, Address, Email address, etc.
In a nutshell, Algebraix is a project with the aim of giving us the power to control our data.
Algebraix is a platform built by brilliant minds whose aim is to enable individuals to have control over their data, hide their identity, choose who to share their data with and monetize their data with the aid of smart contracts. Blockchain technology is very vital to this project owing to its outstanding features (transparency, security etc) and as such to enable individuals to hide, monetize or manage their data, Algebraix will utilize this technology.

THE PERSONAL SECURE VAULT (PSV)

The PSV is a mobile application which paves the way or grants users access to Algebraix platform.
The PSV offers the following services;

As a Personal Secure Data Store: The PSV will be used by individuals to store data securely in an encrypted form, with the Algebraix platform acting as a backup.
With the private key issued to each user, the user will have control over his/her data.
As a Digital Wallet: The PSV will also act as a wallet for storing Algebraix token (ALX) bought or earned, it can also be used for payment of services on Algebraix platform. The PSV can also store or send other cryptocurrencies and with an inbuilt secured messaging feature, users can send messages to each other.
Multiple Device Implementation: The PSV is built to work on any mobile device. The mobile device is the users' gateway to access his tokens etc.
Video Ads Browsing: The PSV is user-friendly, thereby enabling users to view ads and promotions, review other users activities, upload data etc
An Anonymized Database: Owing to the quantity of data being stored on Algebraix platform and the need to protect them, these data will be encrypted using cipher AES-256 encryption so as to maintain security and trust. Therefore, the only way for a data to get out of the platform will be through the owner.
Access To Other Applications and Blockchain Services: The PSV will be built to run direct applications on other platforms such as steemit etc.

SOME OF THE PROBLEMS IN THE CURRENT MARKET TRENDS AND SOLUTION OFFERED BY ALGEBRAIX

Data Ownership;
The Problem: Nowadays, unsecured and unprotected data are harvested and exploited by big organizations without the prior knowledge of the owner nor rewarding the owner.
Solution: Algebraix aims to solve this by providing individuals with Personal Secure Vault (PSV), where they can store and have access to their data in an encrypted form and choose to share with whomever they dimmed fit.
Data Exploitation;
The Problem: Data exploitation is now the order of the day. Big organizations having access to our data now trade it without the owners' consent nor rewarding the owner.
Solution: With Algebraix, data owners will have control over the ads they are presented with and be rewarded for viewing ads if they choose to.
Data Insecurity;
The Problem: In addition to organizations exploiting users data, they also failed to protect those data.
Solution: Algebraix solves this by presenting individuals with a private key to their account and as such only they, have power over it.

CONCLUSION

Algebraix is a platform for the sole purpose of enabling individuals to secure and monetize their data.
To achieve this, Algebraix will be built on a blockchain platform, fueled by Algebraix Tokens (ALX) with the total supply of 100,000,000,000, which will be used to pay for services on the Algebraix platform. Individuals whose data are used by advertisers are paid in ALX, the individuals, in turn, will be able to use ALX to pay for services offered by Algebraix.