Persona, found online at Persona.im, is a zero knowledge identity blockchain. Find out how it works today in our review.
What Is Persona?
Persona aims to solve problems in today’s identity management system. It’s a zero knowledge identity blockchain where users can securely store personal data. Using Persona, you can safely share data with authorized companies.
The goal of Persona is to empower individuals to regain control over their personal data, while still allowing them to secure access to their private information.
Using the Persona blockchain, companies can offer Know Your Customer (KYC) services to third parties.
How Does Persona Work?
Persona uses the blockchain to allow companies to offer KYC services to third parties. Companies can also benefit from each other’s services. There are two steps to this verification process, including
Step 1) The Professional KYC: This represents the process that an individual goes through when they engage any entity that requires an identity verification process.
Step 2) The Community KYC: The community KYC represents a common effort where people are encouraged to validate each other’s identity. By empowering community checkups, Persona’s team believes that they will “make people evangelize further the blockchain, while permitting them to update their details.”
Ultimately, the Persona ecosystem revolves around data ownership. Persona allows users to take control over their data. With Persona, only authorized service providers are allowed to access your info. Access to user data is offered at the document-level. Using Persona, you can choose to share your Social Security Number and address with your physician, for example, while only sharing your phone number and address with your utility provider or cable company.
Persona describes their system as “like a single sign-on for all the websites you are already using.” Instead of manually signing into each website and signing up for each website, you can login with a single authorization.
Persona also has a unique system of Persona notaries: you can search for Persona notaries near your location, then get your identity profile 90% verified. The final 10% of the verification process is based on a KYC process performed with a corporate partner (like a service provider with which you have a subscription).
Persona Identity Management Platform Features
Single Identity Management Stress-Free:
Persona harnesses the power of blockchain technology to provide hassle-free identity management. It’s a single sign-on for all the websites and subscription services you’re already using.
You Control Your Personal Info:
With Persona, you’re the owner of your data. If you want to access a service or a device, then you need to explicitly share that data with the device.
Create Your Own “Halo”:
Persona lets users create a “halo” based on all types of data, including medical records, fitness programs, and social media accounts. You can give access or revoke access to your personal info however you please.
Persona has its own blockchain that holds transaction data and uses IPFS for storage. Persona uses Arkio blockchain technology.
Web And Mobile App:
Users interact with the Persona platform through the web app or mobile app. You can manage your data through either app.
Delegated Proof Of Stake:
Delegates are selected by a voting mechanism built into DPoS.
Persona uses a public blockchain. That blockchain will be interoperable with other blockchains through Smart Bridges.
Persona uses an “IPFS-like solution” to share documents and files between users.
Persona has its own digital tokens called PRS. 100 million PRS were seeded with the genesis block.
Persona has multi-signature support, which means clients can require multiple signatures in order to unlock account data.
The Persona PRS Token Sale
There’s a total supply of 100 million PRS tokens. The tokens are being released through a token generation event (TGE) consisting of one private sale and three public sales.
The private sale will release 15.3 million PRS tokens. That sale is scheduled for December 15, 2017 to January 30, 2018.
The public sale, meanwhile, will see the release of around 38 million PRS tokens. The token sale is scheduled for February 1 to February 24, 2018.
Tokens are sold at a price of $0.20 per PRS during the token sale.
The tokens will be distributed on March 30, 2018.
Persona has set a hard cap of $14 million and a soft cap of $9.4 million for the token sale.
Of the total supply of 100 million, 70 million are allocated for the TGE. The remaining tokens are going to the team (15 million), the Persona Startup Fund (12 million), advisors (1 million), bounties (1.5 million), and escrow services (500,000).
Who’s Behind Persona?
Persona was launched by co-founders Stefan Neagu, Ioana Frîncu, and Dan Cearnău. Ioana is COO of KrowdMentor, a strategic investment and advisory firm empowering blockchain investors, funds, startups, and entrepreneurs to reach their goals. She’s also the COO of Under Development Office, a software company with 7+ years of experience. Ioana previously worked as a consultant at IBM.
Dan, meanwhile, is an experienced tech entrepreneur, cryptocurrency enthusiast, and blockchain developer who currently serves as the CTO of KrownMentor. Stefan has financial industry experience working for ABN Amro and the Royal Bank of Scotland. He’s focused on blockchain technology since 2016, starting with Lisk before launching the ARK blockchain platform in September 2016.
Persona is a blockchain-based identity management solution that allows individuals to maintain blockchain-based profiles of their personal data, then securely share that data with authorized third parties.
To learn more about Persona and how it works, visit online today at Persona.im. The token sale is underway until the end of February.