“Persona”, Concept Rising from Ashes
Something in need from a long time
There has always been a great need to improve the interaction between customers and service providers for a better experience. For the process, it required to grasp out the data from separate customers and store those data in an identical place for separate customers. Causing the higher requirement of such a service, many projects have evolved in a short period of time expecting to provide assured solutions for this scenario. But due to difficulties faced in the process, most of them ended in failure. But the times have changed and new technologies have been evolved by now. “Persona” has exploited the new technology in existence and has innovated a whole new level of technology to empower solutions.
Privacy at its maximum!
In most of the attempts exercised in order to gather data of customers ended in failure due to the inability to protect data from exposing into third parties. But after the invension of bitcoin by Satoshi Nakamoto in 2009, many of the remedies for this issue could be substituted by the concept used in Bitcoin technology. Mainly, the solution could be empowered by this decentralized network, the blockchain.
The key points associated with Bitcoin that will be crucial in presenting solution for this issue will be as follows.
- Replace the middleman: the need for a moderator to bridge the two parties wont be required under the blockchain technology.
- Decentralization: As for the knowledge, the blockchain technology is virtually impossible to break. This makes the network protected from unauthorized third party entries to the network. Providing a greater degree of protection
- Immutability: The records recorded will be there for all eternity, because records in blockchain will not be altered in any period of time.
In order to be a part of system, or in other words, to enter the system, it requires to get verified on the identity presented. “Parsona” is presenting a well-thought and an accurate mechanism in order to prevent entry of fake and fraud elements into the community. For this process, parts from community itself are contributed.
In the community, there will be verifiers whom can verify the identity of an entry. Of course, the verifiers may have a rating based their aliases. A weight will be placed upon verifiers depending on the number of verifications they have given earlier. They will be divided into 6 sections. Higher verifications will have a greater impact on their verification
However, the maximum verification percentage that can be given by a verifier will be 30%. Likewise, after completion of 90% of verification by the verifiers the verification of verifiers will be completed. Which means maximum possible verification by verifiers is 90%. The rest of the verification process can only be achieved once a private partner (an institution, utility provider or company) acknowledges the validity of the data
The list of documents needed to provide verification are
- ID or passport or a government issued document (original document)
- Copy or picture of your ID
- A bank statement or an invoice that proves your residence
After the complete verification process, the KYC (Know Your Customer) process will be underway. There after the data will be stored will be secured by cryptographic algorithms in the blockchain. And by most means, blockchain will be better than any other centralized application or a server. And further the data of any party will be in the hands of that very party.
The “persona” blockchain represents a Delegated Proof of Stake (DPoS). The delegates are set to 51 as the initial value. This is to support transactions in first year. The delegates are set to bear number of persona users of a value less than 1,000,000. If the value rises above that, then an update proposal will be set up and further changes will be made.
The expected interaction of users with blockchain at a low is not expected. Instead, a centralized, open source application will be unleased.
The tokens will be issued for the verifications. This will be similar to Ark. The complexity of the verification process will decide the number of token to be distributed.
Effect of “Persona”
Mainly as a result of persona, the business or the retail industry will be taking a great advantage. The KYC process will be making a revolutionary leap in the right direction. The process will gather all the data such as government documents, IDs and tax details concentrated to one single thread. Being a part of Parsona will enable service providers to effectively take use of this.
In the events such as payments and subscriptions, the need to provide identification details won’t be needed. This can also be effective for mass media to filter out false data by using the verifications of “Parsona”.
So as per the detailed description of “Parsona”, the project has got the potential to ride sky high and also, it is an extremely needy project for the modern world. Thus the success will be almost certain.
Interacting the society to the Project
The token will be in sale in different phases for better distribution.
The units (PRS) will be distributed
- 70,000 units are allocated for TGE
- 15,000,000 PRS (units) will be with the team comprising the co-founders. These units will be distributed in a period of three years, provided as yearly payments
- 10% at Genesis
- 30% after 10 months
- 30% after 24 months
- 30% after 36 months
- 12,000,000 PRS will be resting as the start up fund of “Parsona”
- 1,000,000 PRS will be allocated for the advisors which is expected to hold for a period of 5 months
- 1,500,000 will be distributed for the bounty
- 500,000 PRS will be for the escrow services (by Ark)
The estimation of the income will be in between values $9.3M and $14M. the income will be distributed I different sectors so that maximum profits can be generated in the time to come. It will be vested in those sectors for a period of three years.
Mainly it requires to allocate funds for the b;ockchain development, Smart bridge development, mobile and Web development and maintenance.
The legal fees are required to pay for the project in time to come
Investments must be made for the business development so that “Parsona” can take part in blockchain events and enter into agreements with companies that will be considering “Parsona” as a good option.
And also allocation of funds to establish a legalized notary system will be done.