TheCryptoUpdates
Blockchain

Verida Partners With Primacy to Provide Decentralized Data Sharing and Storage

With the world riding on the advancing technology and revolutionary advancements engulfing almost every sector into a plateau of decentralized reality, the role of data and the intimidating need to secure and protect it has become more prominent than ever. Centralization has abandoned the users to enormously depend on a handful of market giants in data storage, rendering almost no control or users’ say in data sharing.

Decentralization or distributed ledger technology, however, has changed the game and to a rather extensive degree has raised awareness over the deep-seeping roots of data leaks, loots, and black-market association with centralized infrastructure. With decentralized apps (dapps) storming several industries to a more interoperable, secure, and cost-effective platform, networks like Verida are practicing and evolving to cater control and effective data security & storage in the growing decentralized ecosystem. 

Verida X Primacy: An Iron-Clad Agreement Of Revolutionizing Data Integrity

Recently announcing its partnership with Primacy Technology, Verida has signed a multi-year agreement with the Singapore-based technology to exclusively construct decentralized data storage and sharing solutions. Inherently focused on privacy technology, Primacy is driven to help customers adhere to regulatory compliance as the current technology ecosystem is actively advancing and evolving on the grounds of decentralized networks and applications. 

The enterprises aim to come together in an attempt to offer decentralized identity on the dapps running on the Verida network. Along with providing identity on the decentralized platforms, the network will offer reliable storage, private data ownership, and single sign-on features. The exemplary capabilities will not only contribute to securing personal data but also set new and exciting possibilities in data sharing and user control over their own data. 

Primacy Leading Data Solutions With Desca 

Developing an end-to-end blockchain encrypted vault called Desca, Primacy is leading the solution exclusively for sharing and storing confidential documents. Primacy’s Desca focuses specifically on securing personal sensitive information and confidential business documents for their clients. Desca effectively leverages the single sign-on and decentralized identity features of Verida network to offer the ultimate data solution for elevated data security and sharing. 

Offering an easy-to-use and secure line, users like lawyers, accountants, and other professionals dealing with sensitive and private data can access Desca for confidentially requesting information from their clients or for other professional purposes. Above that, seeping the concept of user control over data, end-users have an efficient way of managing the personal data that they choose to share with other parties and stakeholders. 

Primacy Taps into Verida’s Decentralized SDK

Mending into the agreement, Primacy is anchoring Verida’s established decentralized SDK and tokenized data economy, allowing them to gain pace in developing highly secured dapps.  Excited about their collaboration and the progressive nature of the project so far, Primacy’s founder and Managing Director, Aga Manhao stated- 

“We have been collaborating for a year, and we have enjoyed working with Chris and his team. We both believe that data should be decentralised and owned by the user, so we started building solutions to meet our client’s requirements while utilising blockchain technology for a decentralised secure environment.”

Resembling similar feelings of the proud and enthralling journey of extensive research and development over the past year, Chris Were, the co-founder and CEO of Verida mentioned- 

“We have thoroughly enjoyed working with Aga and the team at Primacy. Greater consumer awareness of privacy issues and changing global regulations are creating new opportunities for forward-thinking, innovative companies like Primacy to develop privacy-first applications controlled by end-users. It is exciting to be at the forefront of this innovation and expect our collaboration to yield more products and solutions in due course.”

The partnership binding for multiple years between Verida and Primacy is much compatible and a stellar step ahead for both the enterprises as they progress towards transforming data protection and user security with their decentralised solutions.

Related Articles

Ethereum Developers Want To Postpone The Difficulty Bomb Until May 2022

Kshitij Chitransh

Tips for Building a Diversified Cryptocurrency Portfolio

Akansha Kesarwani

Crypto Mining: Crucial Information to Get Started

Ahmad