What is MARAChain?
In the times we are living data privacy and protection is an major concern across the globe, especially the way in which private data is handled by corporations in an increasingly digital world. The EU has issued a series of regulatory standards to protect the private information of citizens of the European Union (EU), called GDPR (General Data Protection Regulation). This regulation, which is in effect as of May 25th, set series of rules and sanctions not only for organisations based in the EU but even for business and professional entities having business activity in the European territory or those that are handling private data of EU citizens.
The GDPR aims to protect personal data (all data sets that identifies a person) of all citizens of the EU and enforces their right that all entities processing or possesing data of EU citizens are under obligation to comply with. With these regulations, the citizen has right to access the data that an entity may have, the right to be erased from any database (‘the right to be forgotten’), and the right to explicit consent. Not only do the citizens have more rights but the regulations also impose new obligations on business entities, such as mandatory communication of security breaches in 72 hours. A failure to comply with GDPR will result in a significant monetary penalty of up to 4% of the entity’s revenueor 20 million euros, whichever is higher. In addition, the business entities may be prohibited from processing personal data in future, which may effectively mean not being able to conduct business at all. One of the main risks to data protection is the open transfer of documents, which must be confidential and guarantee an adequate level of security that includes protection against unauthorized or illegal treatment and against loss, destruction or accidental damage.
This confidential and secure exchange of information shall be the focus business segment of MARACHAIN.
The Secure Exchange of Digital Documentation allows transmission of encrypted and secure documentation, restricting access to third parties and offering access management to these creditable transfers, through an auditable, verifiable and secure P2P transaction. These transmissions will be made through a distributed network of nodes located in the main European DPCs, guaranteeing 24×7 availability of information as well as protection against information loss thanks to the redundancy of MARACHAIN network.
Layers or Levels of Application
- File Storage Layer: IPFS in private mode – the IPFS nodes will be owned by Mara, and will be located in Europe, to establish compliance with the GDPR.
- Blockchain layer: each IPFS node acts, in turn, as a blockchain node, where we store the document transactions; the data of the transaction will correspond to the hash of the document in IPFS, among other relevant data. Initially, Multichain will be used as Blockchain platform; but the use of TON (Telegram Open Network) as Blockchain platform will be studied. This implementation will allow adaptation to almost any existing or existing blockchain system, allowing MARAChain to pivot to other Blockchain or develop their own. Cross-chain.
- Application Layer: PHP7 development that acts as Blockchain and IPFS client. This layer must perform the encryption of the files stored in IPFS, as well as the management of the mailboxes (wallets in Blockchain) of each client.