The limitations of traditional data practices and the negative issues associated with "sharing" your personal data has created the need for a cost-effective solution that enables enterprises to use the Internet and a secure distributed network like Blockchain as an efficient and effective means to manage data privacy in terms of access and use of personal data.
New likes like GDPR and US data privacy laws regulate the collection, storage, use and sharing of “personal data.” Personal data is defined very broadly under the law as any data that relates to an identified or identifiable natural person. And even personal data that has been pseudonymized can be personal data if the pseudonym can be linked back to a particular individual.
The Omnibasis platform uses smart contracts for storing and sharing consumer preferences, consent and permissions (PCP) on the Blockchain. The smart contract is unlocking access to personal data only as agreed with the consumer, on an ad-hoc basis, just in time to share that data and then lock it again for security and protection.
This approach is being referred to as preference, consent and permission network that we call the Circle of Trust:
New likes like GDPR and US data privacy laws regulate the collection, storage, use and sharing of “personal data.” Personal data is defined very broadly under the law as any data that relates to an identified or identifiable natural person. And even personal data that has been pseudonymized can be personal data if the pseudonym can be linked back to a particular individual.
The Omnibasis platform uses smart contracts for storing and sharing consumer preferences, consent and permissions (PCP) on the Blockchain. The smart contract is unlocking access to personal data only as agreed with the consumer, on an ad-hoc basis, just in time to share that data and then lock it again for security and protection.
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| Blockchain based data privacy network |
- Strict control on what personal data is stored and how it is used
- Data governance tools for better transparency, record keeping, and reporting
- Data policies to provide consumer with control to data subjects and ensure lawful acces
The Circle of Trust also provides a feedback system to enterprises and consumers while managing their reputation within the network.
We believe that for the full benefits of these new Blockchain technologies to be realized, we must build a solid circle of trust. We understand that enterprises can’t use the technology we deploy if we don’t meet the highest standards for safety, security, privacy, and compliance ourselves.
To build the circle of trust we have pledged to build Omnibasis on four foundational principles:
- Security: our priority is to safeguard data with state-of-the-art technology, processes, and encryption;
- Privacy and control: Consumer is in control of the privacy of their data, who has access to it, and for how long;
- Compliance: we continue to build in compliance with industry standards and certifications;
- Transparency: complete visibility into what data is stored, how it’s accessed.
Laws and regulations that govern technology will inevitably change. But our commitment to the consumer privacy will never waver. We will stand with our enterprise partners and consumers to help bring the benefits of the trusted network in the most trustworthy and most compliant way possible.
Meet the first comprehensive secure cloud-based solution for enterprise-wide collection and management of consumer preferences, consent and permissions across multiple channels and connected devices through our omniTrust solution. Through our network of enterprises and consumer members, we allow consumers direct access to their preferences, giving them control over communications channels and specific communications subjects.
About Omnibasis
Omnibasis is a business management solution to run your sales,
marketing, commerce, and operations powered by Blockchain technology.
Visit omnibasis.com to
meet the operating system for your business.
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