“The opportunities for DigiAssets are limitless”: DigiByte looks into developing the most secure…

“The opportunities for DigiAssets are limitless”: DigiByte looks into developing the most secure digital identity platform

In the latest Financial Fox interview, DigiByte ambassador Josiah Spackman makes the case for implementation of Digi ID and DigiAssets into multiple platforms ̶̶̶ including mobile banking, streaming services and social media ̶ to increase user security and data protection.

The DigiByte team’s newest developments are Digi ID and DigiAssets, two features built on the highly secure DGB platform that allows decentralised technologies to be applied to digital identity and safe management of digital assets.

One of the most prominent figures within the growing GB community, Josiah believes that the underlying structure of Digi ID can solve up to 90% of cybersecurity issues regarding user privacy and sensitive information because it requires no email or password for user login.

Digi ID automatically generates a unique identity key for different websites every time the user logs in, therefore protecting the user’s identity from being shared with third parties. A decentralised framework is user-centred because it does not rely on intermediary platforms to connect users and services and prevents interaction and data sharing across different platforms.

Worries about user privacy and data breaches are increasingly taking over the news. Governments and users alike are calling for more accountability from social media and tech companies to handle personal information more securely. Facebook, for example, is close to being fined by the Federal Trade Commission because it failed to protect users’ data.

As the Internet of Things and Big Data continue to grow, hyper connectivity also means increased vulnerability to data breaches. Storing users’ information on centralised databases creates the biggest vulnerability to hacks and data breaches. The current system, which is extensively supported by tech giants such as Facebook, Google and YouTube, acts as a catalyst for single points of failure.

Recent data from the FT shows that in Britain, the number of mobile transactions is increasing, with mobile shopping figures spending surpassing those at shopping centres. Tech giant Amazon is the most popular online choice. As the trend is set to keep spreading, solutions as to how minimise risks to banking platforms become more valuable.

“The opportunities for DigiAssets are limitless,” says Josiah. Cryptocurrencies such as DigiByte can be integrated with other existing platforms, including banking, to maximise cybersecurity measures.

The real value of DGB, and cryptocurrencies in general, is that they will not replace traditional fiat currencies, but instead help improve security and practices in the current financial market environment. Embracing blockchain technology is a necessary step for banks to keep their services up to date.

Stefania Barbaglio, director at Cassiopeia Services and official DigiByte PR comments: “For a while, cryptocurrencies were seen as a threat to the future of banks and financial institutions. However, with developments such as Digi ID, we see that the future lies in the integration between traditional banking and decentralised technologies.

“They complement each other to build a better and safer financial environment for users. The true value of DigiByte is not in its currency and market value, it is in its strong use case and multiple applications.”

The DGB community can expect more news and updates on DGB projects to be released during the first global DigiByte Summit, taking place in Amsterdam on 19th April 2019. The theme of the Summit is ‘The Power of Decentralisation’ and its agenda will expand on the multitude of possibilities and uses enabled by decentralised technologies.

Keep an eye out for news on blockchain and decentralised technologies. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel.

How a Blockchain powered platform could help to resolve the problem of online reputation management…

How a Blockchain powered platform could help to resolve the problem of online reputation management in a simpler and straightforward manner

Right of Reply and its unique blockchain powered servise RoRKey.
First of all, all starts from the KYC process. It is essential to ensure that only the subject of the article responds to any specific content related to his/her person. Our platform uses white label system apps — common to all our businness solutions — to underpin the blockchain infrastructure, which acts as a managing and identification system for digital identities.” says Right of Reply. Digital identities can be certified by KYC processes carried out by institutional third parties and authorities, complying with international standards. “Our users’ data will be stored in an identity wallet (I-Wallet) within the RoR App on their smartphone/tablets/computer, thus offering unparalleled security compared with storage on a central repository such as Facebook or Twitter” The I Wallet will be accessible through a self-generated identification number from a public key, and a corresponding private key. Users will then ask for certificates from relevant authorities, using KYC procedures. The definition of the standard to be used for saving the workflow in the blockchain is under development. This will significantly advance the offer of an open system linked to reputational issues Right of Reply operates via its current 3 business solutions for both individuals and enterprises: • RoR: Right to Reply to Regulated content • RoCC: Right to Reply to credit check and reports • RoRKey: Right to Reply to any other form of online content Based on the fact that it addresses counterparts such as editors of any media, who currently do not use blockchain technology in writing their content, RoR service is structured on a proven bur traditional technology.
RoCC service, which is confined by the same circumstances mentioned above, is aimed at credit agencies. Their platform offers the possibility to interact through a blockchain protocol in the event of their institutional counterparts, wi be ready to adopting similar protocols in both, formation and publication of their content. Blockchain technology and DLT allow consensus to be reached in a peer-to-peer network without having to trust a central authority, creating a trustless system where records of data are signed, verified and sealed in a decentralised way. Blockchain protocols will be used for RoRKey service offer, as well as to establishing the transactions workflow, resulting in a viable and secure solution for the management of public and private keys. Using the Right of Reply app as an identity wallet on the user’s smartphone, people can interact with the RoRKey application built on Ethereum’s blockchain.
Through a decentralised application (Dapp) RoRKey allows both every user to record the hash of any content on the blockchain and ultimately the content itself on the IPFS protocol, creating an open and decentralised registry for online reputation.
This Dapp doesn’t require people to trust RoRKey itself, because the company is merely a technical facilitator, a service provider between users and the blockchain decentralised application (Dapp). In this model, digital tokens are the economic incentive for creating and sustaining an ecosystem built around the RoRKey service. “Tokens are used to reward users and content creators for their collaboration, as well as to correspond Community arbitration services. RoRKey token is the key enabler to encourage fair communication on social networks and blogs, potentially addressing to the roots the problem of fake news currently threatening corporations like Facebook and other important players in the industry” says Right of Reply. See more on RORKEY at http://www.rorkey.com/