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Lisk Based Data analysis blockchain startup MADANA to open whitelist sign-up

By July 30, 2018 No Comments

Image of Madana project logo for lisk based blockchain project

MADANA, a patent-pending blockchain platform for data analysis, is poised to open its pre-ICO whitelist sign-up on August 1st. The German based platform enables participants to engage in a data market with their own protected data. MADANA will be the first ICO to launch on the Lisk blockchain, and will be compliant with German BaFin regulations.

Lisk is a blockchain protocol that uses Javascript as its native programming language. Scalability is achieved by using sidechains, where each sidechain can be fully customised to suit the projects needs.

In 2015 there were more than 700 million data records compromised. That number doubled to 1.3 billion in 2016. MADANA will offer protected open access to analysis results based on various kinds of data from different sources. All exchanged data is encrypted. It is only decryptable by the data owner if he or she agrees to participate in a remote triggered data collection.

In order to let interested users and investors into the MADANA community, the startup will enable pre-registry for their PAX token Initial Coin Offering in less than two weeks.

Christian Junger is the founder and CEO of MADANA. He said: “Simply stated, we are working on a solution to bring privacy back to data producers.”

Image of Christian Junger, CEO of MADANA lisk based blockchain project

Mr Junger added:

“Data has become our greatest modern asset and will only continue to grow in importance – which is what makes it susceptible to cyber attacks and hacking.”

“Therefore, we are collaborating with experienced companies and political institutions to create a new solutions, rooted in infallible blockchain technology.”

Within MADANA, participants will be able to monetize their own data within the decentralized and transparent blockchain-based marketplace. Bounties can be posted by users and claimed by other members. Data owners will be rewarded with PAX tokens, ultimately transferred by the underlying smart contract built into the network. Essentially, users will be paid to participate in social networks.

Dieter Schule is co-founder and COO of MADANA. He said: Even with GDPR in place, data security is still a paramount concern that costs the world trillions in recovery every single year.”

He added:

“We will expand upon this base and create new opportunities for industries to buy GDPR compliant data.”

Three parties can safely interact in the MADANA universe. They include:

  • Data producers who can now monetize their data without giving up privacy control
  • Plug-in providers who can now implement new analysis schemes and applications through the easy-to-use interface
  • Data analysis buyers who can now purchase on demand with no need for costly data management.

To watch an informational video regarding the new data platform, or to sign-up for the ICO whitelist, click here.

MADANA is a patent-pending data analysis blockchain-based market with an integrated system that offers open access to various kinds of data while ensuring privacy for users.

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