Introduction to YourBlock
Let’s start with the introducation to this unique source, as their slogan states, YourBlock aims to build something amazing. The blockchain-based comparison and incentivized personal data storage platform is founded on the need for consumers to have somewhere safe and secure to store their data—data that they use on a daily basis to manage their everyday lives.
According to their whitepaper, YourBlock seeks to initiate a blockchain-based Digital Filing cabinet that enables consumers to store, control, and manage their personal data. The platform combines the security, privacy, and scalability of private storage with the data integrity, immutability, and accountability of the public Ethereum blockchain.
In the end, consumers will be able to interact securely with third parties, take up services, manage paperwork, communicate, and record communication.
Toward Digital Revolution
In a bid to reshape the way personal data works online, YourBlock aims to utilize the blockchain technology to bring users the Internet of Value, which will reshape the world of transactions and data for both businesses and consumers. To achieve that goal,the platform implements the following components.
Security:
YourBlock will store the consumer’s personal and sensitive data on its own private blockchain. Besides, it will anchor to the public Ethereum blockchain to provide and achieve immutability.
GDPR Compliance:
The platform ensures automated compliance with the EU’s new complex General Data Protection Regulation (GDPR).
Consumer Control:
YourBlock allows both businesses and consumers to operate with total transparency. Concisely, the platform is a fully secure and private blockchain-based Digital Filing Cabinet that will enable you to store, control, and manage your personal data.
Key Features of YourBlock
Privacy:
Private Blockchain, linked to public Ethereum Blockchain
Consumer control:
Provides consumers secure access to quotes for products and services, anytime and anywhere.
YBK Tokens:
Used for discounts on products and services. Awarded upon completion of transactions.
Business-friendly:
It offers service providers a secure platform to upload their pricing and underwriting matrix.
Smart contracts:
Smart contracts between consumers and service providers are completed on the Blockchain. In the end, the platform achieves immutability and data integrity.
Data integrity:
Provides timely and accurate information to service providers and suppliers. This allows them to quote with a higher level of accuracy and lower risk factor.
YourBlock Token Sale and Basic Terms
YourBlock intends to supply 200 million YBK tokens, of which 30% will be sold to the public during the crowd token sale. Each YBK token is equivalent to 0.50 Euros. YourBlock targets a soft cap of 5 million Euros and a hard cap of 30 million Euros.
The presale starts on December 11, 2017, at 12 noon. The platform offers a discount of up to 40% on the presale YBK tokens, but lock-in period will apply. Presale ends on January 8, 2018, at 11 am. The main sale picks up on the same date (January 8, 2018) and ends on February 19, 2018.
What are the Components that Make YourBlock Unique?
Consumers and service providers will derive various benefits from the platform. For instance, consumers will have financial savings based on the sharing commission and origination fees. On the other hand, service providers will have improved consumer data quality and much more.
YourBlock-Pre ICO
The YourBlock personal digital filing cabinet will give the consumer much needed peace of mind and assurance by putting personal data back into the control of the individual. With the General Data Protection Regulation (GDPR) coming into force in May 2018, the YourBlock platform will provide a solution to allow for compliance to Service Providers, the significance of this change should not be underestimated. While consumers will input and manage their own data, Service Providers will upload details of plans and offers, with YourBlock operating as a two-sided piece of technology, connecting both parties through transparency and trust, using Blockchain technology.
With Service Providers inputting information, consumers will be able to directly renew, modify or cancel plans and receive tailored quotes specific to their needs, cutting out the middle man (price comparison websites). By participating within the platform, there will be a fundamental change in relationship with the consumer, empowering them to shop for insurance and utilities by being in control of their data and rewarded for doing so. This new ‘privacy bank’ will also close the gap on the collection of personally identifiable information (PII), which has been a serious issue with information phished on the internet, leading at times to identity theft. Zero personal data will be sold to third parties, minimizing unwanted third party marketing calls, e-mails and SMS.
YourBlock’s ICO comes at an important time. The public are becoming increasingly concerned about the privacy of their personal data, while Service Providers need a new option for looking after this information correctly. The General Data Protection Regulation (GDPR) comes into force next year, meaning Service Providers face potentially costly data overhauls, or the risk of huge fines. YourBlock provides a compliant solution for these Service Providers, and for individuals worried about the security of their data. YourBlock’s online digital filing cabinet returns control of personal data to the consumer.
Now let’s talk about both side of YourBlock, YourBlock has two sides. On one side, consumers can input and manage their own data. On the other, Service Providers can upload details of plans and offers. The blockchain allows both parties to connect with transparency and trust. Consumers can shop for insurance and utilities while keeping control of their data, and will be rewarded for doing so. It will cut out middlemen like price comparison sites, and cut down on nuisance calls, hacks and phishing. YourBlock will create a fundamental change in the relationship between consumers and Service Providers. BlockEx will be managing the whole token sale process for YourBlock. Those who are interested can sign up to BlockEx Markets, and participate using BTC, ETH or Fiat. Participants in the YourBlock token sale will be able to use YourBlock tokens (YBK) to purchase insurance and utility products, and for discounts on the services available.
Website - https://yourblock.io/
Whitepaper - https://yourblock.io/wp-content/uploads/2017/12/YourBlock-White-Paper-18-12-2017.pdf
ANN thread - https://bitcointalk.org/index.php?topic=2716837
Facebook - https://www.facebook.com/WeAreYourBlock/
Twitter - https://twitter.com/weareyourblock
My bitcointalk,
Name : rathnayake
Bitcointalk link : https://bitcointalk.org/index.php?action=profile;u=1503176
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