The IOVO project has a unique concept and plans to create the world's first global decentralized database, which will store a huge amount of analytical information. At the same time, all users whose data will be placed in IOVO, will fully control the level of their privacy and will be able to receive compensation for the use of information about themselves by third parties. But let's first look at the situation with the storage and placement of human personal data in our days, which was the reason that prompted the authors of The IOVO platform to begin the development and implementation of their blockchain project.
Nowadays, our information about payments, insurance, accounts and other financial and near-financial activities is under the control of several companies that use it for their own purposes without our permission. The companies that collect our data use them to analyze and improve their business processes, thereby earning millions and not providing any compensation to us for it.
But any our word, whether written or spoken orally, has its weight. Certain companies will be able to easily benefit from our data.
With this problem and decided to fight the creators of IOVO, applying for this all the possibilities offered by the technology of Blockchains.
The IOVO system itself will not collect any information, but it will be a platform for the creation and integration of dApps — decentralized applications based on the blockchain, which will collect user data and store them in the IOVO database.
The advantage is that everyone involved in the activities of IOVO and its partners will know what information is on it, where it is stored, by whom and how it is used. Moreover, each person will be able to dispose of their data as he wants and fully control the level of access to them. You can hide your information from analysis by specific companies. And if you give permission to use, you will receive a reward in the form of cryptocurrency tokens of the IOVO platform. At the same time, the level of this reward you will be able to determine for yourself, and companies that want to use them will have to play on your terms and pay for your personal information the price that you want.
In turn, the IOVO platform will also be useful for analysts and other professionals who will appreciate your information and need to obtain certain knowledge identified from the laws of personal data of many people.
After all, all the information about contractors that they are interested in will be contained in one place, carefully recorded and structured, with a fully known history of changes, which is recorded in the logs of IOVO and which can not be forged in the future. To collect analytical data, companies no longer have to conduct surveys of people, make requests to various authorities in order to obtain data. Everything will be simply and conveniently provided at IOVO in the DAG graph and tables. At the same time they will reward everyone to whose information they somehow touch. And the creators and owners of decentralized dApps applications for data collection will be able to receive large flows of customers, through cooperation with such a global project as the IOVO platform.
http://iovo.io/
White Paper: http://iovo.io/assets/whitepaper.pdf
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