Blockchain Startup Persona, FintruX Partner To Give Users Control Over Personal Data

Blockchain, News | November 8, 2018 By:

Blockchain startup Persona has partnered with peer to peerp (P2P) lending ecosystem FintruX to streamline the onboarding process for customers using blockchain.

Persona is a zero knowledge digital identity management system, built on blockchain that allows individuals to easily update the data they share with various third-parties as well as easing the corporate clients’ efforts of keeping their data up-to-date. The system is aligned with Europe’s GDPR requirements and provides a safe mean to keep, share and process data. The company claims that the system can secure users from extortions, thefts, and bugs that can hurt both from an image point of view, as well as being fined by authorities.

FintruX is the global P2P lending ecosystem powered by blockchain and no-code development. It facilitates marketplace lending in a true P2P network to ease the cash-flow issues of small and medium-sized enterprises (SME) that typically face challenges getting loan financing, such as startup companies.

By integrating Persona’s blockchain system, FintruX will be able to update or verify the borrowers’ individual identity with 2x the level of authentication, bringing their verification level to 100%. The integration will give FintruX customers control over their personal data and secure access to their private details. Persona won’t have access at any given moment to individuals private details.

“FintruX Network is actively exploring how Persona can be involved in our initial pilots based in Singapore and US,” said Conrad Lin, Co-Founder of FintruX. “We are excited to see how Persona’s services will enable us to better respond to our customer’s needs by rapidly verifying the identity of borrowers on our platform.”

Persona claims that its blockchain system streamlines the process of identity management that aligns with the latest data protection regulations.

“We’re looking forward to work with FintruX and provide their clients with the solution Persona creates for identity management,” said Ștefan Neagu, Co-Founder of Persona. “With Persona, individuals are claiming their identity back, validation and verification is performed by the same community who at any given moment can store or copy any of the personal details.”