MADANA, a Germany-based patent-pending blockchain platform for data analysis that enables participants to engage in a data market with their own protected data, this week announced their pre-ICO whitelist sign-up will officially take place on August 1, 2018.
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In 2015 alone, there were more than 700 million data records compromised, with the number doubling to 1.3 billion in 2016. Here to answer the call, MADANA will offer protected open access to analysis results based on various kinds of data from different sources. All exchanged data is encrypted, only de-cryptable by the data owner if he/she agrees to participate in a remote triggered data collection.
In order to let interested users and investors into the MADANA community, the startup will enable pre-registry for their PAX token Initial Coin Offering in less than 2-weeks. Additionally, MADANA will be the first Lisk-based blockchain ICO to comply with German BaFin regulations.
“Simply stated, we are working on a solution to bring privacy back to data producers,” said Christian Junger, Founder and CEO of MADANA. “Data has become our greatest modern asset, and will only continue to grow in importance – which is what makes it so susceptible to cyber attacks and hacking. Therefore, we are collaborating with experienced companies and political institutions to create a new solution, rooted in infallible blockchain technology.”
Within MADANA, participants will be able to monetize their own data within the decentralized and transparent blockchain-based marketplace. Bounties can be posted by users and claimed by other members. Data owners will be rewarded with PAX tokens, ultimately transferred by the underlying smart contract built into the network. Essentially, users will be paid to participate in social networks.
“Even with GDPR in place, data security is still a paramount concern that costs the world trillions in recovery every single year,” said Dieter Schule, Co-Founder and COO. “We will expand upon this base and create new opportunities for industries to buy GDPR compliant data.”
Three parties can safely interact in the MADANA universe, including data producers that can now monetize their data without giving up privacy control; plug-in providers that can now implement new analysis schemes and applications through the easy-to-use interface; and data analysis buyers that can now purchase on demand with no need for costly data management.
To watch an informational video regarding the new data platform, or to sign-up for the ICO whitelist, visit: https://tokensale.madana.io/
About MADANA ICO
MADANA is a patent-pending data analysis blockchain-based market with an integrated system that offers open access to various kinds of data while ensuring privacy for users. Launching a whitelisting on August 1st for the platform’s PAX token, MADANA will be the first Lisk-based blockchain ICO to comply with German BaFin regulations.
For more information, visit: https://www.madana.io/.