{"id":29106,"date":"2018-07-15T17:30:08","date_gmt":"2018-07-15T12:00:08","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=29106"},"modified":"2023-07-10T15:57:23","modified_gmt":"2023-07-10T10:27:23","slug":"atlas-protocol-a-new-roadway-for-storage-and-data-processing-privacy-prioritized","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/atlas-protocol-a-new-roadway-for-storage-and-data-processing-privacy-prioritized\/","title":{"rendered":"A new approach to user data storage and processing, privacy prioritized"},"content":{"rendered":"

What is GDPR?<\/strong>
\nThe GDPR (General Data Protection Regulation) is a European Union regulation on consumer data and privacy protection. After four years of preparation and debate, the law was finally approved by the European Union Parliament on April 14<\/span>th<\/span>, 2016 and went into effect in the EU\u2019s 28 member states on May 25<\/span>th<\/span>, 2018.<\/span>
\nThe law regulates companies that collect, store or process a large amount of data from residents of the EU. GDPR requires companies to be more open and transparent about what data they possess and with whom they share the data. Users need to have the option to erase their data permanently on companies\u2019 servers. In addition, companies have to notify users within 72 hours if there is any data breach. If companies violate this law, they could pay up to 20 million euros or 4 percent of the company\u2019s annual global revenue, whichever is higher. The intent is to give the control of the data that consumers own and generate back to them.<\/span>
\nThe implication of GDPR<\/strong>
\nMany large IT companies such as Facebook and Google, updated their privacy policies and terms of service to comply with this regulation. However, the business models of these companies are based on the data that they collect from their massive user base. The limitation on the data usage will have a significant long-term impact on the business models and operations of many companies in the IT industry.<\/span>
\nHow can blockchain help?<\/strong>
\nBlockchain technology presents a promising alternative to the traditional way of data gathering and processing business model. Because of blockchain\u2019s pseudo-anonymous feature, it is significantly harder to link certain transaction records with a particular user. As a result, companies cannot analyze user behaviors and promote target marketing using the pseudo-anonymous data.<\/span>
\nHow can Atlas Protocol help?<\/strong>
\nAtlas Protocol<\/a> (atlasp.io) is a tokenized marketing protocol that aims to address major problems in crypto marketing, such as the security and privacy of user data, using the blockchain technology. Unlike traditional ad tech companies, Atlas Protocol seeks to give full data ownership to users through decentralization. Being implemented on the blockchain, Atlas Protocol will be fully transparent for users, in contrast to the “data blackhole” setup that characterizes the current industry landscape dominated by digital giants.<\/span>
\nAtlas Protocol always asks for users\u2019 consent for data storage and data processing. Built into its core design, Atlas Protocol will only use public and user consented data for targeting in marketing. It always allows users to have the option to choose which data to be shared or even not sharing any data at all. Atlas Protocol<\/a> does not share users\u2019 data with any intermediaries.<\/span>
\nAlthough blockchain is pseudo-anonymous, there is a possibility where hackers can deduce data origin indirectly by analyzing the data linked to hash addresses. Therefore, Atlas Protocol will also encrypt the marketing content and target marketing list to further protect user data. In this way, it can ensure that only targeted users can see the appropriate marketing content.<\/span>
\nIn addition, Atlas Protocol<\/a> plans to compensate users for generating data within their network. With the user incentive program, users can choose whether to share their data with Atlas Protocol for token rewards or not. By introducing user incentive, Atlas Protocol aims to become the first marketing system to loop the end user into the economic cycle and share the reward of help building a better ecosystem for every participant.<\/span>
\nGet in touch with Atlas:<\/p>\n