We live in a diversified world where data plays a critical role in the industry we work, or in whatever interest we have. You certainly have come across how data play a part in all part of lives and how it is changing the world. It might be part of a research work to find a cure for some illness, or strategy to boost a company's revenue to satisfy their customer's needs.
Data as defined by Wikipedia
Data is a set of values of qualitative or quantitative variables. Data is measured, collected and reported, and analyzed, whereupon it can be visualized using graphs, images or other analysis tools. Data as a general concept refers to the fact that some existing information or knowledge is represented or coded in some form suitable for better usage or processing.
Data stands at the pivot of many organizations, it helps them make business decisions based on facts, having a processed data at hand empowers organizations to make an informed decision based on their customers need or a new business idea.
Additionally, it empowers healthcare agencies to do research on a specific illness and be able to reach a conclusion, while developing a cure or ways to curb the illness among citizens of the world.
To also socialize we often give out our data to third party websites, sharing our personal information online and this makes us vulnerable to internet crime and Ungodly cyber attackers.
Why Is Data Important?
As businesses and the world generally are becoming a tech-driven and face-paced environment, data is playing an increasing role in making the world a global village. Analysed data helps provide organizations with the statistical information which can be visualized as graphs or images. These data help an organization or a group of entities make informed decision ranging from:
- Predict trends and behaviors.
- Increase business productivity.
- Drives effective decision-making.
- Help you gain new customers.
- Increase customer retention.
- Improve customer service.
- better manage marketing efforts.
- track social media interaction.
In light of all the benefits of data to businesses and organizations. It faces challenges such as the bridge in the security of data. Traditionally, data is stored in a centralized server location, and these centralized locations are subject to hack and data theft. Additionally, data stored in centralized locations are not properly encrypted to secure confidentiality in data storage.
To curb all the many challenges data faces in our current ecosystem of the centralized and decentralized world. The Memority is the new blockchain project that wants to bring a lasting solution to the bridge in data security.
Memority is the platform for a completely decentralized, ultra-secure storage of valuable data on the blockchain, which ensures the continued availability of several encrypted copies of data on unrelated storage locations around the world. Website
The Memority platform provides a completely decentralized and secure platform for data, it wants to restore users confidence and trust to store data online. The platform is built on the blockchain technology which is known to be highly secured and transparent technology.
Data stored on the Memority platforms are well encrypted with private keys. This simply means these data are matched one to one, and every private key is unique in itself and unique to the different data on the system. Data are only available to view only by the creator of such data because they are encrypted with a private key which is only available to the data owner. This means there is no third party access to data on the Memority platform.
Data loss in the Memority blockchain is totally eliminated. Users are secured of data loss. The Memority platform allows users to store data on their platforms, and these data are stored in 10 multiple locations by default. As an additional checkmate is the Monitoring system. The monitoring system periodically checks the availability of these data locations, and create new copies if it finds an insufficient number of duplicate.
Most often data are easily forged in our current centralized systems. The Memority platform curbs such cases of fake/forged data. Data within the systems are stored in blockchain database and the monitoring system periodically check for fake data and restore the correct number of copies with the original data in cases where files have been forged.
Finally, the centralized system completely depends on third-party platforms to function. Conversely, the Memority platform is an autonomous system, it is completely self-contained. The processing of files, monitoring, recovering, storage, encryption, and validation for authenticity are completely decentralized. There is no form of dependencies on any centralized or third-party system. The system takes care of all its data execution within its ecosystem. This is the true decentralization of data and it helps to optimally secure data from third-party infringement.
The Memority ecosystem is a true decentralization of data storage and this helps to secure data stored on the system completely. The memority platform is a platform of choice for organizations and businesses who want to enjoy the many benefits of data storage. It completely provides users of its platform with ultra-secure data storage, encrypted and stored in a different storage location around the world.
Visit the Memority official website, join the social media communities and consult the official documents for more information about the project.
Website : https://memority.io/
Whitepaper : https://memority.io/docs/whitepaper_memority.pdf
Telegram : https://t.me/memority
Telegram Channel : https://t.me/memority_news
Github : https://github.com/Memority/memority
Twitter : https://twitter.com/frvrty
Bitcointalk ANN : https://bitcointalk.org/index.php?topic=3952669
Medium : https://medium.com/@memority/
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