GDPR.Cash (GDPR) ICO Review – ICO Token News
GDPR, an acronym for General Data Protection Regulation , is a set of regulations that govern the data protection and data-sharing relationship between individuals living in the European Union (EU) and the providers of the online products and services they use. First proposed in 2012, it was adopted by the European Parliament, the Council of the European Union, and the European Commission in 2016. At the time, online service providers were the given 2 years to fully prepare for the regulations, which are to be enforced on the 25 of May, 2018. The above date is commonly referred to as “the deadline” and online service providers will be subject to significant monetary sanctions if they fail to become compliant with the new data protection regulations within the designated time. Businesses that breach the new set of regulations can potentially be fined either €20 million or 4% of their worldwide turnover, whichever is higher. GDPR is about the personal data of individuals, which is the core of all its regulations. GDPR introduces a completely new set of rules regarding the collection and processing of the personal data of individuals residing in EU member states and updates existing regulations. GDPR does not apply only to entities with a physical presence in an EU member state. No matter which part of the world a given business or organization is based in, if it collects and processes personal data of individuals residing in any of the 28 EU member states, it has to 4 be compliant with the GDPR.
Current state of the GDPR – Readiness
Even though the GDPR will come into effect soon, many of the companies, organizations and website owners are not ready for its implementation. In fact, a survey by the Compliance, Governance, and Oversight Council (CGOC) established that only 6% of the 8 companies are actually ready for the enforcement of the GDPR. Yet another research by Spiceworks revealed that 43% of the US-based IT professionals does not believe the GDPR will affect their organizations. The official document makes it clear that if you process or retain any data on EU citizens or residents, you will need to comply with the GDPR, regardless of whether your company is based in an EU member state or not. Even if the company is registered in and operates from another jurisdiction, it still has to be compliant with the GDPR if it services EU citizens. This is so because the GDPR aims to protect the privacy of all European Union citizens and residents and applies to all businesses that hold and process personal data collected within the European Union, regardless of their industry or location.
Our main service is the marketplace where any business, especially those operating online, can submit a GDPR verification request with a fixed or floating budget and receive help from the experts in our network. This service is suitable for small websites, blogs and e-commerce businesses. The service is paid for using our ERC20 tokens – the GDPR Cash. We provide all parties with a secure escrow contract, implemented through a smart contract on the Ethereum blockchain which grants the transactions between the parties. Once the experts’ part is fulfilled and confirmed by the client, their payment will be released. Then, we will issue a unique digital certificate to verify the process, date, time and result. We register the certificate on the blockchain to serve as a confirmation the process is complete and give the client a special badge and a widget to show as a concrete proof to his customers or other interested parties.
Experts can register on our platform at no charge and will be listed on our websites. They will receive bonus tokens upon registering. Each expert agrees to receive tokens as a compensation for certain aspects of their services such as consultation or the audition process through our marketplace. As our platform evolves, we are to start charging the experts for better positioning and advertisement of their services. Experts will not be charged for the first few months following the ICO thanks to the bonus tokens they receive after registration. This will also motivate them to provide better services to their clients.
Our service is intended for website owners, mobile applications or any other offline or online business working with the personal data of EU citizens. They will receive access to a long list of experts and services. Our clients can work with an expert by contacting them directly or through our platform. They can also post a request for assistance on the marketplace. Using our platform offers many benefits. For example, a question can be answered by multiple experts since all of them will be motivated to take a reward in the form of tokens.
Our GDPR Cash token, containing the GDPR symbol, is a standard ERC20-compliant Ethereum token. It is pre-minted and distributed between users and experts through a presale and an Initial Coin Offering (ICO). Once the ICO has ended, the token can be bought or received only by its respective owner, e.g. a participant in the ICO. The services we provide will be purchasable solely via tokens. The token-sale allows participants to contribute to the GDPR.CASH network and receive GDPR tokens. GDPR tokens will be required if a company wishes to utilize the GDPR.CASH network. GDPR tokens do not represent the equity of the company. These are functional utility tokens within the GDPR.CASH platform. GDPR tokens are not securities. GDPR tokens are non-refundable and are not intended for speculative investment. No promises of future performance or value are or will be made with respect to GDPR, including no guarantees of inherent value, of continuing payments, or that the GDPR tokens will hold any particular value. GDPR tokens do not entitle their owners to participation in the Company and do not grant them any rights in the said Company. GDPR tokens are sold as functional goods and all proceeds received by the Company may be spent freely by Company in the absence of additional conditions. GDPR tokens are intended for experts in dealing with cryptographic tokens and blockchain-based software systems. Check ICO list to know more about ICOs.
- Dimitar DimitrovCEO/Founder
- Stefan RadushevChief GDPR Expert
- Silvia BayraktarovaMarketing Manager
- Tomislav TomislavovSymfony Developer
- Teodora AleksandrovaFrontend Developer
- Miryana BuchkovaWeb Designer
- Omer IlyasliMarketing Advisor
- Borislav VelichkovIT Security Advisor
- 1December 2017
GDPR.CASH was conceived as the answer to a much needed call. Time is running out as every business operating on the EU market has to become GDPR compliant until 25th of May, 2018. We build a strong team that will help SMEs to face that challenge with minimum efforts and budgets.
- 2Q1 2018
Implementing the core features of the platform and building the cornerstones of the ecosystem.
- 3Q2 2018
Token Offerings and Fundraising efforts to secure enough financial means to fully create what we have set out to do; platform, marketplace, learning platform, job board, and event sponsorships.
- 4Q3 2018
Fully functional platform, where GDPR service providers and companies can find each other.
- 5Q4 2018
GDPR TOKEN to be listed on exchanges. Continuous Integration and Development based on regular feedback from our users.