We reside in a world that is driven by powerful procedures. Back in the days, information and data were used to be prepared with the help of simple gadgets which made the utilization of the normal waves in which this information and data were being proliferated. It was only a matter of years that information and data handling was shifted from a simple type of handling to advanced type of handling.
Iovo project will provide a new solution to the several challenges that lingers in the present day data management platform. The Iovo project was developed to enable individuals to handle and manage their own data by themselves. Not only that, but the project also offers great advantages to the market which include transparency, reliability, and uniqueness. The circuit of data validation is guaranteed by the smart contracts and blockchain and also by the easy accessibility from an interface.
Iovo stands for Internet of Value Omniledger. This particular project is perceived to be the first decentralized human value network which is known to provide humans with the power over the data they produce.
This is basically a global open network database that is used for exchanging and storing information that is based on any type of quantitative value assets. This particular platform actually serves as a data scoring and management ledger by creating a global and universal decentralized ledger of all values that are created by humans. With the help of Iovo, the full control of data that is created is handed back to the data creators so that it can never be used by platforms and industries without the creator’s content.
How does it work?
The main feature of Iovo is storing and collecting user’s data that comes from applications that are created based on the Iovo DAG with no access possibility of other users. If the users agree upon accessing their statistics, they get agreed remuneration. It is up to the users to decide that how much data is made externally accessible to the other parties. This is done while having full control over it. each query and browsing action requires a payment to be made. It can be said that Iovo acts as a personal data wallet. It is known to create a powerful universal database that permits unrestricted analysis opportunities.
The IOVO token is considered to be the core element that will be used on for transactions carried on the Iovo network. The main aim of the token sale is to raise the fund that is required for the development of the said plans of the IOVO platform.
Thus, from the above discussion, it is clear that Iovo as a platform is extremely useful for the users when it comes to the management of their data. Not only that, but the platform also provides several advantages to the users. If you wish to learn more about the platform then you can simply read through the whitepaper of the project.