Having data about your customers is king, having the ability to analyze and act on data is even more crucial. The fast-acting environment requires companies to be able to react quickly to changing demands from users and environmentally implied conditions.
However fast action may be implied, decisions are increasingly complex as companies compete for the global marketplace with big players like Facebook or Google. The leaders may need to understand high volumes of data before they can make the necessary decisions. Collecting our data for free enables global businesses to enter the trillion dollars annual margin.
A change must come, where we can restrict the access of the big companies to our data just for free. A mechanism that allows us, the people to control what’s being shared and more importantly at what cost.
Essentia: a possible solution?
The folks over at Essentia propose a decentralized framework for data management. By creating Essences a fully fledged, interchangeable set of data containers that are going to store our digital personas and digital assets safely.
As we slowly creep into the decentralized tech era the Essentia ecosystem plans to foster widespread accessibility and safe use of the upcoming dApps (decentralized Apps). By providing a simple, cohesive and complete set of tools which facilitate the data exchange between humans and machines in a decentralized permissionless world.
Security should be open source
The Essentia ecosystem is based on the open source governance method, by allowing experienced developers to come up with great ideas and contribute to the community by making our decentralized web experience safer.
By working on improvements to the Essentia Blockchain, developers will be able to access paid bounties and gain experience in the very sought after field of blockchain and decentralized infrastructure.
A solution is needed, ASAP!
It’s no secret that having a centralized identity management system is broken in so many ways. Not a month passes by, and we hear of new cyber breaches that leak customer sensitive data, reiterating the risks of being reliant on the traditional databases which usually have a single point of failure.
Most of the times, it’s not about how will the hackers do it, it’s just a matter of time. Millions of records just merely vanish in the crafty arms of the hackers that end up all over the deep web where the data is being torn apart and put to good use. Going decentralized is the solution, as it will take years and immense processing power to hack a blockchain system.It just makes sense then, to start the transition of our most prized information that’s used on a daily basis to this revolutionary technology.
The Essentia framework can be used by humans or machines interchangeably (servers, Internet of Things devices, etc.) if they adhere to the Essentia blockchain system. It will be interesting to see the evolution of this framework as decentralization becomes more and more, a part of your lives and changing the way we look at our digital footprint forever.
For more information about Essentia's projects and features, kindly visit the Official Website here: https://essentia.one/
Thank you for your time and feedback,
Jack Andrew