Since our last update, we’ve been busy on a various areas: developing features on Persona blockchain, developing the Identity wallet, started the communication campaign, looking for partnerships and many more. Now, let’s get into more details for each area.

Features on Persona Blockchain

In order to function properly Persona has a number of transactions like “Claim identity”, “Verify identity”, “Validate Identity”, “Consume Identity”. We’ve created these transactions types and now, as we are getting closer to publish it on the public testnet, we will need to come out with the fees for these transactions.

As you know, everything on blockchain is a transaction and comes with a cost. There are two types of fees: a “business fee” to add attributes (the cost similar of registering as a delegate) and a “technical fee”(the cost of having that transaction registered on the blockchain). I’ll cover these fees in a future blog post.

The first use case Persona will approach is going to be the KYC(Know Your Customer)/CDD(Customer Due Diligence). This means that the initial attributes available to be claimed in Persona are the ones requested by almost any third party during the on-boarding process:

First Name Last Name Alias Birth date Birth Place Parents Name Proof of residence Social Security Number Email Phone Number

The documents proving these attributes are going to be saved on a private IPFS instance running only inside of the Persona blockchain. The IPFS module is built-in in the Persona node client, so every node running Persona will run an IPFS instance.

Identity Wallet

The movie above shows our development on the “Identity Wallet” application. The functionalities available and the ones that will be in public testnet in a couple of weeks are the: claiming the identity and add documents to prove the 10 attributes listed above.

Right now we are testing all these in our internal testnet and once these will be available in public testnet, we’ll focus on verify and validate features. They are already in development and depending on how the existing features function in public testnet we’ll make verify and validate options available as soon as possible.

Also, there is feature we take into account to develop when it comes about the “recovery” of the passphrase option. We will test a couple of implementations like:

a. Split the passphrase in 4 and send the words to 4 email addresses (like family members or friends or whomever the individual wants)

b. Send the passphrase by SMS or something similar to the mobile phone number specified by the individual

Partnerships

You might remember that during our TGE we’ve signed a partnership with FinTrux. Now we are getting our dev teams together in order to start the integration. The goal is to start providing a seamless on-boarding process and access to FinTrux services by having Persona providing KYC/CDD.

We are in discussions with other third parties looking for a better, safer way to do KYC and as we progress with both: development and discussions, we’ll let you know about the status.

Communication

We started to communicate about Persona, we had our first interview with techbullion.com, an opinion on CrowdfundInsider and we’ve been quoted on Investing.com.

Between November 26–27, we’ll be participating at MoneyLive Summit in London.

As we progress with the development and we reach new milestones, new materials should be published.

Persona Ambassadors Program

Next week we will launch the Ambassadors Program. Now, as we are getting closer to launch the first version of Persona, we are encouraging community to play a more active role in making Persona known, organizing meetups and evangelize Persona approach when it comes about personal data.More details about this program will be available during the next days.

Exchanges

As I’ve told you already, we are working on getting listed on a new exchange, a top 50 one. We are almost done and if there are no new requests on behalf of the exchange, getting listed is a matter of days.

New colleague

While the current team is focusing on developing Persona blockchain and as we are getting closer to launch a functioning version of our solution, we are in the last phase of hiring a new colleague who’s only mission will be to help implementing Persona with third parties and develop applications on top of Persona, like browsers add-on to sign emails, POC for chat over Persona and many more.

Thank you for your support,

Stefan & the rest of Persona team