Pikcio Chain ICO
Pikcio Chain is a secure, compliant and distributed data ecosystem that enables the collection, certification and exchange of personal data
ICO public sale opens March 31
Data has enormous value but its provenance and authenticity can be difficult to confirm, leaving businesses vulnerable to fraud and unable to value data withconfidence. Today’s data ecosystem also ignores the individual data producer. Using their data for free
and leaving them with no knowledge of where their data is held. Pikcio addresses these issues
Pikcio has been designed to store, secure, verify and certify data while ensuring the data source retains full control of their information at all times. Pikcio lets the user choose how to share their data, who to share it with, while also providing them with the opportunity to be
paid for its use.
By empowering the individual, Pikcio creates certainty for businesses. As the regulatory
spotlight focuses on the data industry, companies need to find efficient ways to comply with new rules like the EU’s GDPR directive, and they need to know that the data they’re buying is both authentic and legally available.
Interview with PikcioChain
BitcoinChaser: What kind of problem, market deficiency or opportunity inspired you to launch your project, and how will your project address this?
Pikcio Chain: When other companies certify and store data locally on their servers and databases, they are the sole guarantor of the authenticity of the data, we have to trust them. If they modify or change the data, nobody will know.
BC: How will your project address this problem, market deficiency or opportunity in a unique way?
Pikcio: PikcioPro and PikcioMe are based on the PikcioChain, which is a Blockchain-based distributed network. When data is certified, a footprint of this data is stored (timestamped) on a fully distributed database owned by several trusted companies on their servers.
This distribution shares the responsibility of the certification between several entities/companies/administrations and makes it incorruptible. If one of them forges data, the others will know and will update the network with the correct data.
BC: How do you think competition will develop in this segment of the market following your ICO?
Pikcio: The exchange and trading of personal data currently takes place across a range of formats and standards with individual users cut out of the marketplace.
Not only does Pikcio enable the monetisation of personal data for the benefit of the individual data producer but for companies, it solves customer service issues resulting from cumbersome KYC requirements and creates a certification mechanism that businesses can trust.
The opportunities for Pikcio range across all industry sectors but immediate opportunities in financial services, medical information and marketing mean that our initial efforts will focus on gaining traction within these segments.
BC: For all those who have read your white paper and are still on the fence about contributing with your ICO, what can you tell them that could lead them to buy into your project?
Pikcio: For all those who have read your white paper and are still on the fence about contributing with your ICO, what can you tell them that could lead them to buy into your project?
Ethereum and Hyperledger (IBM) are both networks based on Blockchain technology like PikcioChain but their more centralized infrastructure means that the individual user does not maintain control of their data.
Hyperledger uses only IBM servers to store and certify data meaning that users have to trust IBM.
Compared to Hyperledger, Ethereum architecture is used and owned by several companies but when data is sent to the Ethereum Blockchain, the user does not know where their data has gone. This makes it unsuitable for certain highly regulated industries such as the health and financial services sectors.
PikcioChain’s distributed architecture is fine-tuned and built according to the requirements of the data being processed.
The certification nodes are stored by default on a minimum of 3 different entities because this allows Pikcio to validate transaction by consensus.
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