Proxeus Releases Revolutionary Data Storage DApp, Bringing User-Based Control Over Digital Identity
In the world of startups, companies like Proxeus, aim to disrupt the administrative difficulties when it comes to running and managing a self-reliant blockchain application. Known as the “Wordpress” of the Blockchain, Proxeus takes a lot of the ground and grunt work out of building blockchain applications by using DApps, highly scalable and customizable decentralized applications which are seamlessly integrated into the Blockchain.
Founded in 2017, Proxeus is an award-winning, powerful workflow-engine and document generator that allows users to create blockchain applications by inputting information and building workflows without the need to learn a new programming language.
The Storage DApp
Only one of two existing modules for Proxeus, the first module functioned as a “drag and drop” blockchain workflow engine and document generator. The goal is to accelerate enterprise adoption of the Blockchain by making the transition to this workflow technology easier for the average organization.
Users can easily document, register, and generate certificates of ownership over tokenized assets. This is similar to ownership of digital assets or collectibles, but with the addition of a data storage DApp. Through this DApp, assets are able to be transmitted without having to go through an exchange or intermediary. Consequently, users can store documents with the secure storage provider of their choice, no longer having to be forced into relationships they don’t want to be in.
Utilizing custom-built workflows allows for documents to be generated and distributed to a wide audience. These Proxeus-generated documents are machine readable by design, making this platform a key stepping-stone for digitization. For example, a workflow could auto-generate a confirmation page or invoice based on the form data, contained in an address on the Blockchain. This invoice is then able to be shared with the purchaser directly from the system.
Release of Beta V2
Today, Proxeus has released “version two” of its beta, adding a groundbreaking blockchain storage DApp that is pushing to be one of the first “digital safety deposit boxes.” With the Proxeus data storage DApp, users will have total control over their digital identity for the first time.
By storing encrypted data in secure facilities off-chain, while putting advanced access controls on-chain using smart contracts, Proxeus’ beta provides people with the ability to create their own private and/or public registers, essentially becoming their own data providers.
According to the company’s co-founder, Patrick Allemann, they are introducing one of the most advanced file-sharing and management platforms to space. “This is the first truly decentralized application in which any user can retain the total privacy of their data.”
Think of a website’s hyperlink—this DApp offers the ability to embed a near-infinite level of depth in file-linking, protecting the entirety and granularity of a user’s digital identity at the same time.
Photo Credit: Antoine Verdon via Proxeus
“Our data storage DApp will make the collaborative economy safer,” said Proxeus’ other co-founder Antoine Verdon. “In the near future, an individual will have access to their tokenized assets at any time using a Proxeus-based portfolio. You could carry a house in your pocket if you wanted to.”
Out With the Old, In With Encryption
Operating as a “pay-as-you-go” storage solution, the application does away with traditional data storage and subscriptions. The company told me that it allows any storage provider to connect to Proxeus through the Blockchain, offering storage services to any user. And all that they need to worry about? A standard monthly subscription contract executed through smart contract technology, which manages access to the storage location.
Similar to storage packages that third-party providers like Dropbox and One-Drive offers, Proxeus also allows users to choose their storage package. The ecosystem governs the payment amount, storage package, and type of access users have.
Creating Your Online Circle of Trust
With the user “holding the key” to every file, the Proxeus storage DApp will let users decide who has access to their data, and when it is to be removed – all backed by the immutability of the blockchain. This all helps in minimizing the high likelihood that user data is sold or exchanged without user permission.
At the same time, the need for intermediaries and institutions decreases. Companies will no longer have to worry about utilizing services like WeTransfer for international copying of data between clouds and data-mining services.
The storage DApp adds a level of validation every time a Proxeus-issued document is mutually signed. As time goes by, the record of a user’s identity becomes more reliable and immutable, resulting in blockchain verification.
“With its data storage module, Proxeus has essentially created a ‘circle of trust’ for KYC,” said Cyrill Trondle, CEO of Swiss Crypto Exchange.
By using the system of splitting access rights (on-chain) from the actual files (off-chain), and being able to give conditional access to documents, new business-cases become possible. Users can provide access to documents based on conditions, they can create time-sensitive documents and they can tackle the entire range of GDPR requirements.
Proxeus Partners With Swiss Data Storage Facility, MOUNT10
Recently, Proxeus partnered with Swiss data storage facility, MOUNT10, demonstrating the effect of its prototype. “It’s a very exciting proposition for us,” said MOUNT10 CEO, Thomas Liechti.
All images used herein are authorized by Proxeus and/or its representatives.
Andrew is a Forbes Contributor, former contributor for The Merkle, former Huff Post contributor. He also works as a consultant for ABC, CBS, FOX and NBC across Dallas and Ohio on the latest news in the technology law realm. He has been quoted in many Forbes articles and featured in national stories across the countries such as Cheddar on GDPR, and on podcasts such as Lawyer 2 Lawyer, Thinking Like A Lawyer, TheLegalTool Kit, and This Week In The Law.