DIW: The Data Wallet Based on the Blockchain Technology


Introduction
Data is king. Well, I hope everybody knows that. Nothing beats a reliable, quality and accurate data. If a fact cannot have relevant data to support itself, it becomes merely a hogwash. Nothing good ever came because of crumbled data. Today, companies and businesses are heavily dependent on data for each decision. But, another prospect is, how safe your data in today's world is. Do you think it is possible to keep your sensitive data out of the reach from fraudsters and hackers, who are in the constant run for stealing your data? The examples of Equifax remains relevant in this matter, where millions of user's personal information were exposed in the security breach which showed how secure our security systems are.
If the biggest companies having sensitive data of millions of users cannot keep it safe, no question can be asked about the small and medium enterprises. The government and its programs create this situation tougher for the people by constant surveillance and by collecting an insane amount of data, which are then left in an unsecured system open for theft. On a daily basis, we generate enough data to fill our lifetime, which is exactly 2.5 quintillion bytes of data. Every sector today is grappling with the problem of data theft, security breach and online fraud.
How and when this will be solved is still undecided by companies whose whole business runs on those very data that they are unable to protect. If we are not able to create an ecosystem which provides security to our data, we are living in constant danger of being deleted from the online world. Should there not be any solution which can help mitigate this problem and can be general purpose and applied to each and every industry?
SOLUTION OFFERED
DOCSEND is the platform of choice because it is presenting a solution to these problems in the data security and online fraud. They are creating a Digital Identification wallet (DIW) which is a personal decentralised identity service. It can record, hold and store sensitive data in an encrypted manner. DIW offers a hardware wallet too. The benefits of the DIW can be summarised and a few of the important features are mentioned below.
  • Security with hardware wallet to the registered accounts on the DIW
  • DIW Global directory with a rating system to rate the quality of data on each account holders.
  • A platform built on blockchain technology to provide ultimate transparency and security
  • Vision to launch many applications of the DIW in health care and Information system
  • Multiple currency support on the wallet, such as cryptocurrency and fiat currency
  • Secure peer to peer protocol for data distribution among users of the DIW
They have also presented a grand vision and future plan for the platform such as Paid escrow, electronic health records and secure digital vault. We are bound to see many such applications of DIW in many other sectors.
ICO INFORMATION & TEAM
To create this useful and trustworthy application, they require public support. The total tokens are one billion where 70% of it will be distributed in the ICO. 60% of funds will be spent on the development of the platform while 15% will be spent on marketing.

The team behind this platform understands the importance of data in today's world. They believe that security of the customer's data is utmost importance to them. They are experienced in the field of blockchain technology and software development.
CONCLUSION
We know that data is a very important element in the success of business today. It can help companies scale much faster and help in better decision making. They have selected one of the most important problems of the digital world from which everyone is affected.
I think that we will be seeing an improved digital landscape, which treats its data with utmost security with the introduction of DIW. Nothing can match the loss, which people suffer from the digital identity theft, it nearly destroys their virtual life. Once the companies realise the importance of the data security, they would start research and development in this domain rather than finding ways to save their taxes. It is a brilliant concept, but only time will tell the true story.
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Published By: Kishan748

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