Nowadays, we have more and more data in our personal accounts. We use multiple accounts to access a lot of important services like; live streaming service, utility bills payment, cloud service, web hosting or shopping. These data (credit card, password, identity documents, etc) are on the realistic risk of identification and risk of harm.
The problem is that we’re trying hard to keep up with all the passwords we need, the hassle of having multiple documents needed to fully complete the KYC process, prevent phising by always looking for the little address bar lock sign in our browsers, keep track of our credit cards, and try to never to trust spam emails.
Another issue is privacy. With all of these data, service providers might use, sell, or share the data. For example, as stated on their Term of Services, the UK service HipSnip states that it may share, rent, sell, or trade aggregated and anonymised data. Some companies collect users data in order to build up the profile, which can be used to push their users with targeted advertising. In fact there are a lot of data brokers which are willing to pay a lot of money for such data, that can help them target specific segments of the market.
This complex collection of data asks for solutions that simplifies the control and access.
Essentia is the trustless modular framework allowing users to operate with their digital decentralized identities and data by creating their operating system with on-chain capabilities that can be accessible from all the devices in the world. It empowers users with the full control and ownership of their data, IDs, information, privacy and assets, while being applicable in every device in the world, dApp, blockchain and third party service that an user wish to control in a decentralized manner.
With Essentia, we have a “universal key” where we can access all kinds of services without need to expose our personal data or no need to retype insecure passwords. All can be done with one seed without risking our data and privacy.
Users have total control of their identities. Users can decide what details to share and whether they would prefer to be anonymous, pseudo-anonymous or KYC compliant within their identities. All of KYC information stay decentralized and seen only by the user, to make it simple to sign up or subscribe to new services whenever we need it. So you don’t need to upload KYC documents all over again.
Essentia platform works by decentralizing all of the users data within the blockchain network. Since all of these data are decentralized, then only users can decide whether to allow full or half access to their data to any other party. The other party then access these data in a decentralized way so that they can not use or sell the users data.
