Breaches in privacy have been a hot topic recently with social media account issues, changes in GDPR and so on. What about retail? Since we know how valuable your personal data is, here is how Fluzcoin will keep your account information safe and secure.So what are the usual concerns for everyday use of cryptocurrencies?
“What if people check how much money I have in my wallet?”We all know that it’s possible to explore transaction details, find the other parties wallet address and check the balance of said wallet in a block explorer platform.
“What if people see what I spend my money on?”Everyone has made purchases of things they don’t want other people to know about, whether it’s an adult store, a casino, a bar or it can be anything. And again, in a normal cryptocurrency world someone could explore the destination wallet addresses of your purchase and that way see your shopping tendencies.
Typically in the digital currency sector there seems to be an extreme for transparency, like a sort of mental block - if it has Blockchain, then it needs to be fully transparent. However, we don’t see any business reason for the block-explorer to be fully public, instead we will use a semi-transparent version. We believe your personal data is a much too valuable asset.So how would Fluzcoin platform look like?A user set cap would be one option. For example, you could have $100,000 worth of Fluzcoins, but you wouldn’t want other users to see this data. In your private account there would be an option to set a cap at a certain number, so publicly it would show your balance is say $5,000, while in your own account you would see the full balance.As regarding payment habits, there would be semi-anonymous destinations of money transfers and payments. For example, publicly it would show you have made 10 transactions and the amounts of said payments, while privately you would see you have paid 8 times for groceries and twice spent money in a casino.
If you have been a keen explorer of fluzcoin.io, you have probably noticed that one of the reasons Fluzcoin is so appealing for merchants is that the Consumers Insights API will offer vital information about the potential customers. Data-driven information like which demographic group is purchasing the most or which items yield the highest revenue per order will be available for merchants to make more profitable decisions.But there is no need to worry, to maintain full anonymity and ensure user privacy, the API only allows access and analysis via a guarded aggregate, similar to Facebook Business audience insights:
image source: facebook.com
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