(Linkable Quarantined Internet Data of Unique Subjects)
Privacy is a fundamental right. It is explicitly stated under Article 12 of the 1948 Universal Declaration of Human Rights. Our current centralized systems often infringe on our privacy. Europe had to legislate GDPR (General Data Protection Regulation) to curb the menace. Decentralizing data control and placing it in the hands of users themselves is our approach to solving the problem. LIQUIDUS is our solution.
Liquidus is a radical new way to reclaim the user's privacy, security and interpretability that’s been under siege from technology for eons. Liquidus is based on the vision of Sir Tim Berners-Lee, the inventor of the World Wide Web. In addition to maximizing the privacy of personal data, Liquidus affords protection against security breaches to the companies and introduces the much ignored interoperability to the traditional data silos.
Liquidus users can create different PODs for storing and even segregating their personal data depending on the type of end use. For example one may have a separate POD each for specific use case such as, ID, personal, professional, social, EHR, KYC (know your customers) or even a custom POD. Each POD can deliver the specific data that the user authorizes to any service provider through API. The user can even quarantine his / her personal data totally isolating it from any online exposure.
Although Liquidus technology’s core focus is privacy, it causes significant disruption in data security industry, and provides interoperability by default. Its ecosystem is therefore very extensive encompassing pretty much every activity that is performed on the web, basically qualifying it as a key Web 3.0 enabler.
Since 1995, "Privacy By Design", has been a very compelling concept for protecting user privacy on the web. But, in well over two decades of its existence, no one succeeded in creating a software that had privacy built in as default. It is only recent advances in decentralization that have made it possible to get rid of the root cause of privacy breach – centralized databases.
Data protection in data processing procedures is best adhered to when it is already integrated in the technology when created. Nevertheless, there is still uncertainty about what "Privacy by Design" means, and how one can implement it. LIQUIDUS PODs eliminate that uncertainty and defines with clarity how technology can achieve privacy by design and by default.
Liquidus design not only incorporates data privacy by default, but it has data security built in. There is a hacking attack somewhere every 39 seconds, cost of such data breaches is predicted to increase to $2.1 trillion globally in 2019. According to a latest report data breaches cost companies $150 per record, and in first half of 2019 itself 4.1 billion records were breached. Such data breaches happen on a daily basis causing hundreds of billions in losses.
Liquidus massively impacts the data security because it is decentralized and does not aggregate all the user data in a single server location making it impossible for hackers.
Data liquidity basically is a function of data portability or interoperability wherein the data is no longer confined to data controllers’ databases or data silos such as supply chain management systems, financial systems, healthcare systems, social media, etc. An important attribute of data should be that,
It flows to where it is needed and when it is needed without compromising privacy and confidentiality. In addition, if it is made quarantinable at data owner’s behest, it is the ultimate accomplishment in personal data privacy and confidentiality.
Data mostly exists in silos with very limited ability to move. Interoperability of data, particular in healthcare industry is crucial in saving billions in added costs. Liquidus breaks the silos and makes the personal easily accessible by diverse databases.
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Technology Research and Analyst with ZeroMile Research & Development, Blockchain Implementer at BC5.0, Project Lead RedoxerIndia