Is Universal Identity Storage the Solution to Personal Privacy Issues?

Your Identity Is Now Safe: The Decentralized All-In-One Safeguarding Solution

Threats to the sanctity of users’ privacy with regards to digital data are more prevalent now than they have ever been.

It’s a logical conclusion that can be deduced from certain facts, such as increased adoption of technology by all age-ranges and the continued growth of industries which require the sharing of sensitive information.

Although large corporations may use arguments such as anonymity of the individual to justify metadata, these organizations own cross-platform data monopolies. These can be cross-referenced to achieve an, arguably invasive, level of user identification and trends prediction.

It’s bad enough to think of this data being shared without our permission to a deluge of interested advertisers – but when these databases become prime targets to malicious actors such as hackers, the potential results seem quite devastating.

Not to mention Apple’s recent decision to move to China [1] – a communist country where the state has control over the data as well as economy.

It’s a problem for small businesses too

Additionally, having to enter your personal information, as well as payment details, into every store that you visit is something of a laborious process and one which benefits neither the customer nor the individual merchant. The rise of protection seals stands testament to the effect that privacy and data protection concerns have had on consumer confidence.

Another result of this is a sense of customer ‘immobility’. This is to say that customers are less likely to spread their purchasing habits amongst multiple online stores or other such platforms (forums, comment boards on blogs, etc) because of effort and risk.

It’s a phenomenon that has further contributed to the dominance of innovation-stifling giants like Amazon, which now reportedly accounts for over 75% of all online spending in the USA [2].

When it comes to implementing effective measures to safeguard customers’ private information, there is an enormous financial barrier facing smaller online business owners.

The situation is also not helped by the fact the information individual retailers hold on each customer is perceived by many to be more extensive than is needed.

‘Safein’, or the forthcoming blockchain / ICO solution

Safein is a brand-new innovator, and Ethereum based decentralized blockchain effort, by a team from Lithuania who hope to disrupt both e-commerce and identity verification industries in one fell swoop.

Their ambitious roadmap includes becoming the first payments provider to support both fiat and cryptocurrency payments, and they have applied to become the first combined fiat/crypto payments provider to obtain an Electronic Money Institution in the EU.

To combat the problem of data-sharing across countless different websites and remembering each respective username/password, Safein aims to become an all-in-one, one-click verification service.

Their token-based platform will additionally reward both customer and merchant token holders, with the former enjoying a lucrative referral scheme and the latter receiving free transactions, which should encourage subscriptions from both parties.

SafeIn’s ICO begins on April 25th. Their soft cap is 4,000 ETH and hard cap is 37,500 ETH. Furthermore, pre-ICO is planned for 1 April 2018. Pre-ICO amount: 2,000 ETH.

You can test out their functioning MVP (Minimum Viable Product) now, which includes a demo of the customer benefits provided in terms of privacy and ease-of-use. You can get the latest news at their website, or on their social media platforms (Facebook / Twitter / Medium).

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.

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