What Is PikcioChain Cryptocurrency?

As governments all across the globe continue to introduce legislation in regards to data privacy and storage, there is still a need to foster blockchain platforms that can help customers move their data across their devices in a seamless manner.

PikcioChain is an all-new blockchain-based platform that has been designed to store, secure and certify sensitive information while allowing data producers to retain full control of their information at all times.

PikcioChain allows users to choose how they wish to share their data, as well as who they wish to share it with. However, what stands out about PikcioChain is its incentive structure that compensates customers for sharing their content, thereby financially empowering freelancers and creating an environment where data can be traded securely.

Another key aspect of PikcioChain is that all of the data contained within the ecosystem is stored and transferred in a peer-to-peer manner and not via the open blockchain. For example, the platform only stores the hashes and validation of the data on its proprietary, private, permission-based blockchain, thereby tackling many of the regulatory issues that plague the cryptoverse today.

Overview of the platform

• It allows businesses to trade and exchange personal data in an absolutely secure and confidential fashion.
• The platform empowers users by giving them control over their own data as well as allowing them to monetize it.
• Data, or even the validator proof, can be traded on the platform’s native marketplace.
• The UI is extremely visually appealing and can be utilized by individuals with varying degrees of technical proficiency.
• The system has been designed to always remain datatype-agnostic. This allows it to handle a wide variety of use cases and products easily.

Key Features

PikcioChain is unique in the sense that it provides businesses with a data exchange service that can be used for recording, exchanging, and storing information safely. It also allows customers to manage account balances while data is being exchanged on the network. Clients are provided access to their account balances at all times.

From a security standpoint, Pikcio Chain has been designed in such a way that each separate entity that validates a piece/collection of data is required to add an entry onto the ledger for the corresponding information. This helps create a yardstick for assessing that data as well as its owner. PikcioChain’s native reputation system is called the Trust Capital Index (TCI), and it can be used to judge the reliability of users and determine whether incoming data is trustworthy.

Another point worth mentioning is that the mechanism PikcioChain uses to store data on personal devices is fully GDPR compliant. This puts the platform in a unique position since many other businesses are still updating their privacy policies and operational practices to incorporate the European Union’s new guidelines.

PikcioChain’s UI

Other important features of PikcioChain include:

• The platform is fraud-proof in the sense that any functions related to data alteration or manipulation of transaction histories cannot be executed by third-party actors.
• Data exchanges are only completed once the platform has received full permission directly from the data owner.
• Since PikcioChain users store their data on their own devices, it is nearly impossible for information to be stolen from the network.
• Owing to its use of a third-generation blockchain platform, PikcioChain is able to offer almost instant transactions.
• According to the company’s roadmap, PikcioChain will offer users a library of modular smart contracts that will enable them to build their own custom marketplaces atop the PikcioChain protocol.

How it Works

PikcioChain can be used within a wide variety of industries, and a basic outline of how the system works will be described in this section.

A trusted validator node initiates the transfer process by taking the data at hand and then carefully reviewing it. Once the data has been validated, the platform then uploads hashes of the information onto the PikcioChain. The entire process is carried out in a granular way so as to ensure that in case a document or a piece of information is changed, the hashes of the other data pieces still remain the same and that the data can still be reused, or sold.

PikcioChain’s envisioned roadmap for the year 2018

When another entity wishes to make use of the data, they can receive this information directly from the user and then compare it to the hash that exists on the blockchain.

If the acquired data matches that on the blockchain, it means that the information has been verified before by trusted validator nodes.

About the Team

Didier Collin De Casaubon is the founder and CEO of this project. According to his LinkedIn bio, he possesses a graduate degree in philosophy, a master’s in mathematics, along with an MBA degree. In the past, he has worked within various financial sectors including the banking industry for over 15 years.

Fabien Bucamp is the co-founder and CTO of PikcioChain. He too has worked in the network security domain for a long time and was previously employed by the French Department of Defense to monitor and manage their backend operations.

Lastly, Dr. Jorick Lartigau is the Head of Research for this venture. Dr. Lartigau holds a PhD in computer science, and his core expertise lies in niche technological domains such as:

• Data security
• Big data algorithms

Token Details

Released into the market just under a week back, the value of PKC tokens has declined over the course of the past week.

PKC token lifetime performance details (courtesy of Coincodex)

While initially trading at a rate of $0.24 on June 12, the currency has since dipped in value and is now being sold for $0.168.

As of June 18, PKC has a market cap of US$6,966,176 along with a total token supply of 83.9 million PKC, of which only 41.9 million are currently in circulation.

Final Thoughts

With PikcioChain providing the cryptoverse with a decentralized, legally compliant means of exchanging personal data between individuals and businesses, it will be interesting to see what the future holds for this project.

If you would like to start investing in PikcioChain, PKC trading pairs are currently available on Switcheo Network.

by Shiraz Jagati via NullTX