PDATA’s trading of personal data is based on the blockchain. Blockchains were built to function in a “trust less” environment in which people can transact directly with one another without needing to trust any middleman in the ecosystem. The blockchain technology and the PDATA platform ensure following (these are also GDPR requirements):
1. The consumer owns the personal data and has full control over it.
2. Personal data never leaves the consumer in an unencrypted format and only the consumer holds the key to decrypt it.
3. Personal data can only be transferred to a company with the consumer’s consent. In addition to that the consumer knows exactly who gets the data and for what purpose.
4. The trading of personal data is fully transparent and traceable on the blockchain whereby the anonymity of the trading parties is completely protected.
Hope this answers your question 😄
I does answer my question and not only that, i am very satisfied with the answer. Thank you for taking the time to answer my uncertainty. Have a great one m8!