Slant, the system for private data computations and data marketplaces in distributed environments, launches GDPR compliant privacy solution for dApps on the EOS blockchain. The technology empowers companies and individuals to privatize and own their data stored on decentralized systems. Slant provides dApps with a simple API to store private data and delegate permission to a smart contract.
Companies have the power to access personal information for their own profit. For example, insurance companies can use extensive data mining to determine whether a person is a risky driver or an unusual health risk. Data mining, aggregation, and sorting has preoccupied the burgeoning field of informational privacy for the last decade. Imagine owning that information, YOUR information, and designating who has access to it by controlling permission for use. Instead of paying the price with personal information, data can be sold, at a price, creating a revenue instead of other companies monetizing the data they collect. This seems like a glimpse into the future, but with Slant’s new technology, that future is now, making private information accessible to those who have been granted permission using blockchain technology. Slant is the vehicle to own personal data and stipulate the security and use thereof.
Slant has arrived at the pinnacle of an “information revolution”, as co-founder Michael Breidenbrücker emphasises, “…today we are witnessing the beginning of the failing traditional, productivity centric economic models. Inflationary monetary policy and financial crisis are only the first signs of our collapsing economic model. With the Slant protocol, we are proposing a new economic model which reflects a new concept of labor. It is centered on data as the most fundamental value driver and therefore evolve the labor based concept of work. It is designed to turn data into a valuable and transferrable digital asset which represents the labor factor of the information economy.“
Slant’s systems allow companies and individuals to control the use of their data ordinarily used to make “Siren Servers” such as Google and Facebook profitable, as well as instances of data mining and where AI is concerned. This development enables companies to switch to decentralized technology and provide a new monetized offering for their users. Recently introduced Data Protection Regulation (GDPR)1 in the EU have made it even more difficult to be in compliance. Slant provides the solution for dApps to store files in an encrypted way while retaining the ability to grant reading rights to interested parties.
With Slant, users are given the freedom of:
- Ownership of their information used to sell to advertisers or companies.
- Granting or denying permission information used across decentralized systems.
- Monetizing their own data, making it profitable for themselves.
- Issuing smart contracts in order to release encrypted information.
On Slant, data cannot be decrypted or hacked because it gets split and distributed into multiple nodes all containing a fraction of the full code. Slant’s innovative developments on the blockchain aim to increase efficiency and transparency, not requiring trust in the operator, as well as reducing costs by eliminating middlemen.