Salt Lake City and Zug, Switzerland, June 12, 2018 (GLOBE NEWSWIRE) -- The international non-profit Sovrin Foundation and Datum today announced Datum’s unanimous approval as a founding Steward of the Sovrin Network. As a Steward, Datum will collaborate with other Sovrin Stewards to create, operate and maintain the foundation’s self-sovereign identity network.
Datum, a decentralized data storage network and marketplace, joins fellow stewards IBM, the Crypto Valley Association, T-Labs and several other visionary entities in operating and maintaining the foundation's decentralized digital identity network. Datum recognizes that identity is a vital component in achieving control and monetization of one’s personal data.
The Sovrin Network and the purpose-built distributed ledger at its core provide individuals, organizations, and connected devices with true self-sovereign identity, meaning, digital identities that are decentralized, secure, portable, private and completely trustworthy.
"Datum is an organization that fully subscribes to the principles underlying the Sovrin Foundation,” said Foundation Chair Dr. Phil Windley. “We are both dedicated to building systems that put users at the center of their digital interactions and in control of their information. This is a natural and synergistic paring and we’re very happy to welcome Datum as a Sovrin Steward.”
The Datum network is run on a secure smart contract blockchain that allows users to regain control of their personal data. Users decide how much data they want to disclose, what it's used for, and how long it remains in the system; then, they have the power to earn money from the data they choose to share.
"Becoming a Sovrin Steward is a huge step in achieving the new data economy,” said Datum CEO Roger Haenni. “Allowing the Datum identity to be used within Sovrin and allowing use of Datum with other identity providers within Sovrin is a key milestone in expanding both ecosystems. With the backing of the Sovrin Foundation, Datum is equipped to take our blockchain technology to the next level by protecting personal information, eliminating data breaches and cyber-crime, and streamlining data transactions like never before.”
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About Sovrin
The international, nonprofit Sovrin Foundation is governed by a constitutional Trust Framework that ensures its independence from government or industry influence, and codifies its dedication to providing a self-sovereign digital identity for all. The Sovrin Network is operated by independent stewards and uses the power of a hybrid distributed ledger as a fast, private and secure framework for providing every person, organization, and connected device a permanent identity with which to transact and operate securely online. Learn more about the Trust Framework underlying the Sovrin Network here.
About Datum
Datum is building a new data economy. With 2.5 quintillion bytes of data created every day, data is our economy's most precious resource. But it’s primarily owned and stored by large private organizations in huge data silos, where personal data can be sold, altered, or exploited. Datum empowers consumers to retake control of their data. Datum offers an open source data network and marketplace run on a secure, smart contract blockchain. Users set their own privacy policies, and consumers can securely store and sell structured data for free — the DAT smart token enables optional selling and buying of stored data. Join the Datum community on Telegram, Twitter and Facebook: @datumnetwork.
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