Normally, technology companies rely on Proof-of-Concept (PoC) to introduce new concepts in the technology space. Likewise, the privacy company, Dock (DOCK), released a PoC that outlines how the Dock protocol works and how users can utilize it.
According to a Medium blog post, the release outlines the blockchain company’s concept of data privacy. The Dock blockchain platform seeks to create an ecosystem where users are in control of their data. This comes in the light of the increased importance of data privacy and security in today’s marketplace. Many companies rely on consumer data to make important service/product decisions. Also, advertising companies rely on user data to customize adverts to maximize the marketing impact.
Dock (DOCK) Releases PoC Protocol That Enhances Data Privacy
Given the importance of data, Dock understands that some companies might want to access user data without their permission. Interestingly, various tech companies faced lawsuits in the past year on issues relating to handling of user data. To remedy the situation, Dock came up with a protocol that “puts people back in control of their personal data.”
In particular, the protocol “breaks down the data silos between existing platforms and networks” in a manner that is manageable. Specifically, the PoC outlines that Dock will build a two-way data exchange between the user and data consumers. This way, the users are able to cut off access to their data.
“We provide users the ability to give express permission for their data to move or be shared anywhere. If you as a Dock user decide someone shouldn’t have your personal info (like your name, address, occupation, or any number of other data points), you can cut off their access simply and immediately,” the blog post reads in part.
According to the whitepaper, the blockchain protocol aims to facilitate data sharing across platforms. Normally, there is a lot of data hoarding where each company jealously guards the data it owns. As anyone in the digital business realm knows, data is today’s gold. The more data an entity holds, the more competitive it becomes in terms of moving products and services. That’s not to mention the societal and political leverage.
In part, the whitepaper reads, “Applications are disincentivized from sharing information and data because of the competitive marketplace and their reliance on data monetization for business purposes.”
With this in mind, Dock released a PoC protocol that will utilize the secure Ethereum mainnet. Further, the protocol incorporates high-end data encryption as well as a token model to control data exchange. Ultimately, the token model will encourage “applications to exchange information by making it beneficial for both platforms involved in the transaction.”
This article should not be taken as, and is not intended to provide, investment advice. Users are ultimately responsible for the investment decisions he/she/it makes based on this information. It is your responsibility to review, analyze and verify any content/information before relying on them. Trading is a highly risky activity. Do consult your financial adviser before making any decision. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
Join our Telegram Group To Stay Up To Date With Crypto News