Senno’s model of rebalancing the private data industry is designed to actually incentivize consumers to allow businesses access to their data rather than making them feel that they’re being tricked into giving it away. This, in turn, gives data collectors an honest, abundant and open source of reliable data.
The protocol that makes this possible rests on four pillars:
30% of the SENNO token supply will be locked in smart contracts and used for contribution rewarding.
Distributed Hardware — Members will be able to contribute their hardware resources through the Senno DDS system in reward for Senno tokens.
Accessing private data — Users who provide access to their private data will be rewarded with Senno tokens. This will open the door for high valued data that is not accessible to the traditional system.
Development contribution — Community members will be able to earn SENNO tokens by developing listeners and plugins for the system.
The Senno ID Chain links to all user IDs gathered from centralized and blockchain digital ID networks in order to bind them into a chain of IDs. Each user in the system will have his chain of IDs encapsulated under a unique Senno ID.
Centralized ID Networks — Facebook, Twitter, Google+, LinkedIn, QQ
Blockchain ID Networks — Systems operating using digital ID protocols like Neo digital ID, Ontology, Civic.
Connecting all user IDs into a single ID chain allows Senno to create a unified data map of all user information retrievable by the provided IDs. In addition, whenever Senno encounters a login from a familiar user in one of its consumers’ websites it will be able to offer the user-customized incentives for sharing and monetizing his personal information.
In order to allow users to control their data and grant access permissions only to chosen 3rd parties, Senno has developed a blockchain based, secure, decentralized prorietary system that is capable of handling user permission and encrypted data for consortiums (as a dedicated blockchain solution) and public network (as a smart contract-based protocol).
Security — User data will be encrypted using symmetrical AES and the keys will be encrypted using ECDiffielHellman.
Controlled Notifications — The platform enables customizable notifications to participants’ external systems, data consumers will be able to dynamically respond to any change/update in the data they are using.
Dynamic Access Control — The DDS supports a multilayer access management model that enables dynamic control over every data field. Users may choose to provide access to any piece of data they wish. Once a user is removed from the access list, he will no longer have access to new updates.
The data unification module bridges between off-chain customer data and blockchain data in order to create a complete user data map representing all the data that can be retrieved by the user-provided IDs.
This complete data map will enable control and monetization for every part of the data. Users will be free to control and decide exactly which parts of their data they wish to share according to the offered incentives. For example, a user can share parts of his medical history to insurance companies and get compensated for the usage of this data.
