Blockchain-powered FINTECH 2.0 solutionPhysical Gold-backed cryptocurrency / Innovative payment features / smart contract-based ad solutions
Towards the mass adoption of Distributed Ledger Technology !WEBSITE / AIRDROP 1 (3,000 people) / TWITTER / TELEGRAMWith billions of data on the Internet and or various servers, one wonders how much protection exists in his/her personal data. The mainstream media reported on various occasion on security breach of data of the most advanced security provides in the world. The truth of it all is that data management companies don’t even have to work hard to obtain someone’s data. People these days are willing to provide their data for the fraction of the benefit and convenience. If someone is not willing to provide their data, then it becomes even harder to obtain any information from the Internet unless one accepts ‘terms and conditions’. This ultimately results in having many pop-ups in our window thereby distracting us from the initial purpose we went on-line in the first place.
Just like the actual cloud, data are uploaded to the so-called virtual cloud where we can only see it but not able to touch it and results in turbulence if one goes into the cloud to obtain information. The only way to access our very own data is if we pay for a third party provider. Funny thing is, we are paying for our own data we willing uploaded in the first place.
Same as clean water, the protection of personal data is an undisputed rights of everyone. However, for the sake of personal benefits, its evident to see that personal data are sold to a third party. Next thing we know is to openly sale data in Merkato (the biggest open market in Africa). Unless properly regulated, such basic right can be manipulated and misused for personal gains.
The European Union realized such issues and adapted the General Data Protection Regulation (GDPR) as of 1995. The directives are adopted as of April 2016 and will be enforced starting from 27 May 2018. Among many aspects the GDPR looks into, the most appropriate measures a company such as Flashmoni should implement to safeguards data are;
1. The ability to ensure ongoing confidentiality, integrity, availability, and resilience of personal data.
2. The ability to restore the availability and access to personal data in a timely manner in the event of a physical or technical incident.
3. An existing process for regularly testing, assessing and evaluating the effectiveness of technical ,and organizational measures for ensuring the security of the processing.4. The ability to provide personal data transmitted stored process in case of accidents or unlawful destruction, loss, alteration, unauthorized disclosure of data.
4. The ability to follow the instructions stated by the Union or Member State law. Flashmoni’s vision to empower others comes along with the responsibility to protecting the data available on its ecosystem. The company made it its priority to assure and outlined its data protection system based on the respective regulations of the GDPR adopted. As a result, it becomes the first fintech 2.0 company to comply with all the EU directives on data protection.
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