News emerged yesterday that Proxeus, the award-winning workflow engine, and document generator has released two versions of its beta, which includes a revolutionary blockchain storage DApp which essentially acts as the world’s first “safety deposit box.”
The Proxeus data storage app will allow users to have total control over their digital identity for the first time.
Retaining total control over the privacy of your data
Co-founder Patrick Allemann commented –
“We are introducing the world’s most advanced file-sharing and management platform.”
“This is the first truly decentralized application in which any user can retain the total privacy of their data.”
By storing encrypted data in secure facilities off-chain, all the while utilizing advanced access controls on-chain using smart contracts, Proxeus looks to have created a solution that allows people to create their own private/public registers.
Essentially, they become their own data providers.
Fellow co-founder Antoine Verdon continued that “our data storage DApp will make the collaborative economy safer.”
“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.”
Eliminating the need for traditional storage contracts
The data storage DApp provides users with the ability to embed a near-infinite level of depth in file-linking, presenting the entirety and granularity of a user’s digital identity simultaneously.
Eliminating the need for traditional data storage contracts and subscriptions, the application provides a pay-as-you-go solution, broken down to the individual file and paid for in the Proxeus token, XES.
Any storage provider can connect via blockchain and offer storage services to a user, with the standard monthly subscription contract replaced by the smart contract that manages access to the storage.
Users can choose their storage wherever and however they want.
Storage, payment, access, and sharing is all controlled by the Proxeus ecosystem, which means there is potential for unlimited storage with no contract risk.
Users hold the key to every single file, meaning that the Proxeus DApp allows them to decide exactly who has access and who doesn’t, all backed up by the immutability of the blockchain.
Increase in the validity of your documents
Every time a Proxeus-issued document is countersigned the storage DApp adds a level of validation which increases the documents trustworthiness.
“With its data storage module, Proxeus has essentially created a ‘circle of trust’ for KYC,” claims Cyrill Trondle, CEO of Swiss Crypto Exchange.
The storage DApp, which is also known as “WordPress for blockchain,” is one of two existing modules.
The first is a drag and drop blockchain workflow engine, and document generator, which is it hoped will speed up adoption of blockchain by making the transition to the technology more accessible for the average organization.
The workflow engine and document generator allows users to document easily, register and generate certificates of ownership over tokenized assets, and with the addition of the data storage, DApp assets can then be sent without the need to go through an exchange.
A very exciting proposition
In March Proxeus demonstrated the prototype data storage solution in partnership with the Swiss data storage facility MOUNT10.
CEO of MOUNT10 Thomas Liechti commented that it was “a very exciting proposition for us.”
Before the beta release, Proxeus had developed prototypes that allow legal incorporation of business, and validation of certificates on the blockchain.
There will be test XES tokens provided to show their functionality within Proxeus ecosystem and to demonstrate how they are used to pay for Proxeus services.
The beta can be accessed at beta.proxeus.com.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.