Privacy is not a secret. Privacy is the power to choose what you want to be revealed to the world. A secret, on the other hand, is something nobody should know.
To keep a matter private is to keep the matter on a "need to know" basis, revealing just enough for the transaction at hand to go smoothly. That is a simple summary of Cypher's manifesto by Eric Hughes.
Yet we cannot deny a simple fact; we live in volatile and uncertain times. This has led governments and corporations to amass data on people to prevent scams. How do Binance Coin (BNB) and Privatixy (PXP) handle customer data?
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Binance Coin's (BNB) Data Policy
Ethereum (ETH) was slow, bulky, and costly. To solve those problems, Changpeng Zhao, the CEO of Binance, built the platform in 2017. It quickly grew in popularity.
Now Binance Smart Chain (BSC) and the Binance platform have become one of the largest crypto exchange platforms in the world. That equates to a lot of customers.
With the huge customer base comes the legal regulations. One such regulation is the Know Your Customer (KYC) requirement needed to open a Binance account. Thus they collect names, contact details, bank details, device details, IP addresses, Location info, and even Card details. Making the platform a large depo of customer information.
According to the privacy policy, these details are needed to provide quality services to their customers. They are also "required" to share these data with third-party platforms and the service providers that help them maintain their platform.
To fully understand the extent of information released to the government and third-party apps, it’s advisable to Research legal stipulations on things like privacy and tax for your area, paying attention to how this affects you.
Privatixy's (PXP) Data Protection Protocol
With the advance in technology and social media, it has become increasingly easy to invade people's privacy or track their whereabouts.
Most of the time, it’s not even carried out by malicious entities but by Government agencies and corporations. That is why Privatixy (PXP), the Blockchain project closest to Eric Hughes's ideals of privacy, was built.
That is a mouthful, so let's examine the project's protocol and why it changes the data selling sector.
Privacy control simply allows people you choose to have the amount of information you want. Privatixy (PXP) is a platform that allows users to encrypt their data, controlling public access to their information and giving effective alternatives for necessary services. Services that would otherwise invade your privacy.
The platform uses the Zero-knowledge proof protocol as a foundation tool to protect privacy. This allows users to prove transaction-useful statements without revealing personal information. Using cryptography, smart contracts, and encryption, Privatixy (PXP) aims to be the bridge between the user and well-needed services that run weak security measures or loud-mouthed frameworks.
The platform runs a DAO governance structure, giving users even more control over the project's future. The main utility of the PXP token is data privacy, decentralized identity, and Privatixy DAO.
Holders of PXP get more than governance rights; they can also stake their tokens and get rewards for providing liquidity. Interestingly, users who buy the PXP token on its presale with BNB can get a 13% bonus. Further, the platform offers referral rewards to users. The referrer and referee get a $40 bonus for every $100 spent.
Purchasing the PXP token with $100 allows an early holder to access a 1% bonus. Holders get 3% when they purchase PXP for $250. Also, buyers get an 8% bonus when they purchase the token with $500, and a 19% and 40% bonus for buying with $1000 and $2500, respectively.
Cryptocurrency started with the promise of decentralization and anonymous payment. Though some platforms have given up on that promise, some Blockchain projects and platforms still aim to make good on that promise. Privatixy will provide security and privacy for blockchain transactions.
Check out the links below for more on this innovative token.
Privatixy Token (PXP)
Presale: https://privsale.privatixy.io/register
Website: https://privatixy.io/
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