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A Background in Blockchain Security
As the name implies, a blockchain is a chain of blocks; bundles of data that record all completed transactions. Blockchain technology was launched back in 2009 with Bitcoin. With Bitcoin’s launch, the “double-spend” error was solved — an error that resulted in digital cash being copied and spent twice with a new, fraudulent currency amount being created as a result; an amount that previously didn’t exist. This model of money transfer was used by all banks and organizations that deal with digital currency transactions.
As the name implies, a blockchain is a chain of blocks; bundles of data that record all completed transactions. Blockchain technology was launched back in 2009 with Bitcoin. With Bitcoin’s launch, the “double-spend” error was solved — an error that resulted in digital cash being copied and spent twice with a new, fraudulent currency amount being created as a result; an amount that previously didn’t exist. This model of money transfer was used by all banks and organizations that deal with digital currency transactions.
In the physical world, an exchange of currency is handed over directly between two parties. However, when dealing with electronic currency there must be an authority that regulates and organises the transfer of currency between accounts (a middle man). This process of transferring currency has its drawbacks; one of which being the fact that the intermediary has control over the currency as well as the power to block or reverse transactions. This single point of control / failure when transferring funds leaves individuals open to intervention. There is also high probability that the intermediary authority gets hacked either from within the organisation or outside sources.
The utilization of blockchain technology by Bitcoin, removes the need for an intermediary, allowing the exchange of currency directly between two parties. Now, instead of using a centralised account to process payments with the danger of that single point of failure, anyone may have access to the decentralized bitcoin blockchain directly. The security and monitoring of this network is not the responsibility or in the hands of a single authority or intermediary but rather it is maintained by the whole network.
This network is not owned or hosted by any one individual or organisation Failure as well as hacking is thus next to impossible. Fraudulent activity may be quickly recognised and discarded from the chain. Any type of such activity has a very low chance of success as no single party has more than a tiny amount of authority over the network, making it extremely difficult to hack or manipulate any records as the rest of the network would be aware of that. A blockchain network is also transparent, offering uninterrupted visibility to all digital files and transactions that have ever been recorded within the chain, thus cancelling out the possibility of any party double spending currency or hiding any records.
Overall a blockchain network features the following advantages:
- Full Visibility
- Security
- Irreversible
- Un-manipulated
A Summarized explanation of the DIW Project:
The Problem & Future of Information Security
Every day, we create and store 2.5 quintillion bytes of data. In the last two years alone, we have created 90 percent of the world’s data! The amount of data created on digital information platforms daily is eight times greater than the information stored in all of the libraries in the U.S!
Every day, we create and store 2.5 quintillion bytes of data. In the last two years alone, we have created 90 percent of the world’s data! The amount of data created on digital information platforms daily is eight times greater than the information stored in all of the libraries in the U.S!
People create and access data via different digital personal devices daily, with data and information being stored in various databases and clouds, in services such as the social media, music platforms, banking, shopping and much more. According to an online survey, with more than 2,000 english-speaking adults participating, the average person has 27 discrete online logins. As we store more and more data in various locations we rely on a growing number of passwords to access our information. It is possible to store these passwords along with other sensitive information with various online organizations; however, this raises the concern of security breach if an individual stores all private information in one place.
Organizations that offer password and information storing services use what is known as a centralised system. Centralised systems are currently the most widespread models for software applications. The system gathers and stores all data at a single centre, with all individuals being dependent on this infrastructure, as well as expecting it to protect their personal data. This dependency results in a single point of failure that is vulnerable to hacking or corruption.
People need to store passwords and sensitive information in an easy-to-access location without the risk of security breach. This is now possible through the use of what is known as a decentralized system. This system solves the issue of a single point of failure on a centralised system. Instead of storing passwords and information in one centre that is monitored and controlled by an individual or a single organisation, decentralized systems are spread across many servers with no one person or individual entity having control over any data, eliminating a point of attack for hackers.
Brennan Novak, a user-interface designer who works on privacy tools said that the transition to an Internet that relies more extensively on decentralized technology is “an absolutely essential development,” since it would make many attacks by malicious actors — criminals and intelligence agencies alike — impractical. A successful example of a decentralized system is bitcoin’s blockchain network.
DIW IS THE SOLUTION
• Efficient, swift and cost-effective transaction processes
• Efficient, swift and cost-effective transaction processes
• Complete freedom to transact via any form of currency, digital or fiat
• Single access to an endless doorway
• Access to support provided by a large, global community
• Secure peer-to-peer protocol for the distribution of sensitive data
• Ultimate security to the account holder via the utilization of a hardware wallet
All of the above will be easily accessed via DIW’s infrastructure, protocol and platform by simply creating an account.
The DIW Groundwork
Basic groundwork includes the preparation of a decentralized network that will progressively host and protect its functions as they are added. This includes the development of a secure platform that will be compatible with all major browsers, accessible by most digital devices, including computers, tablets and mobile phones. Preparation work includes the design and development of a DIW Hardware Wallet.
Basic groundwork includes the preparation of a decentralized network that will progressively host and protect its functions as they are added. This includes the development of a secure platform that will be compatible with all major browsers, accessible by most digital devices, including computers, tablets and mobile phones. Preparation work includes the design and development of a DIW Hardware Wallet.
Users will be able to opt whether they will be using a Hardware Wallet right from the get go — whilst they will be opening their new DIW account — something which will provide them with additional protection. For DIW account holders that never used a hardware wallet with their accounts before, the possibility to do so will be offered at any time it is deemed necessary or whenever maximum protection is needed.
The primary focus of the DIW team will be to create the backbone that will support the entire system as well as proceed with Phase 1 listed below. Depending on the funds received, additional phases may become available right from the start, with the primary launch.
The DIW areas of application and phase development
Using a tactical approach to tackle our progress successfully, we have divided our planned development sections in 5 phases, which are:
Using a tactical approach to tackle our progress successfully, we have divided our planned development sections in 5 phases, which are:
- Secure Digital Vault
- Payment Gateway for Crypto and Fiat Currency
- DIW Global Directory
- Paid Escrow
- Healthcare
SECURE DIGITAL VAULT
DIW enables the secure storage of sensitive information such as identification documentation, passwords, bank account and credit card information, validated KYC or KYS related documentation, wills, as well as other valuable digital data within a highly encrypted, secure and private decentralised platform. The platform will also allow its account holders to securely share their data in part or in whole between them.
DIW enables the secure storage of sensitive information such as identification documentation, passwords, bank account and credit card information, validated KYC or KYS related documentation, wills, as well as other valuable digital data within a highly encrypted, secure and private decentralised platform. The platform will also allow its account holders to securely share their data in part or in whole between them.
PAYMENT GATEWAY
Provides a ground breaking and secure medium to website owners to accept payments, in any major currency, fiat or crypto, using the DIW single login decentralized platform. DIW’s Payment Gateway, will be an easily integrated checkout system for many ecommerce websites including those featuring Open-Source CMS such as WordPress and Joomla.
Provides a ground breaking and secure medium to website owners to accept payments, in any major currency, fiat or crypto, using the DIW single login decentralized platform. DIW’s Payment Gateway, will be an easily integrated checkout system for many ecommerce websites including those featuring Open-Source CMS such as WordPress and Joomla.
GLOBAL DIRECTORY
DIW plans to introduce a global directory where account holders, be it individuals or organisations, will be able to list their services and expand their reach. The directory will feature a smart rating system increasing trust and transparency between account holders.
DIW plans to introduce a global directory where account holders, be it individuals or organisations, will be able to list their services and expand their reach. The directory will feature a smart rating system increasing trust and transparency between account holders.
PAID ESCROW
Another main feature of the DIW platform is the smart contract — based escrow service that will safeguard transactions between parties. The DIW paid escrow service, will be simple to use but at the same time sophisticated and smart, assuring that all transaction conditions have been met before releasing the funds.
Another main feature of the DIW platform is the smart contract — based escrow service that will safeguard transactions between parties. The DIW paid escrow service, will be simple to use but at the same time sophisticated and smart, assuring that all transaction conditions have been met before releasing the funds.
THE VISION / ELECTRONIC HEALTH RECORDS
It would be an omission for the entire project to ignore the critical necessity of security in regards to Electronic Health Records. Our vision is for DIW to encompass this sector by enabling the encrypted storage and secure sharing of personal EHRs between account holders and validated laboratories, pharmacists, doctors or other healthcare professionals with the additional option of utilizing smart contract technology already featured within the DIW network.
It would be an omission for the entire project to ignore the critical necessity of security in regards to Electronic Health Records. Our vision is for DIW to encompass this sector by enabling the encrypted storage and secure sharing of personal EHRs between account holders and validated laboratories, pharmacists, doctors or other healthcare professionals with the additional option of utilizing smart contract technology already featured within the DIW network.
ICO Date: 27 of March — 10 of April 2018
ICO Price: 1 ETH = 8000 DIW Tokens
Website: www.DIWtoken.com
Telegram: https://t.me/diwtoken
Twitter: https://twitter.com/diwtoken
Whitepaper: https://docsend.com/view/qr8a4u7
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