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10 May 2018
Phantasma is a protocol for decentralized content. The project initially grew out of the City of Zion competition last year, late 2017. While the original project, led by Sérgio Flores was exclusively focused on introducing a decentralized email solution, the project’s vision has expanded significantly since then. The Phantasma Protocol is not only searching to become a ‘Gmail Killer’, it wants to return to real privacy and content ownership.
Before we dig a little deeper into the concept behind the Phantasma initiative, let us give this timely update regarding the whitelist submission that is open now!
Phantasma announced that it is opening up its whitelist today for the second time. Starting May 10th at 15H00 GMT+1 you can get listed. Only 1000 people can register today, so be quick to join the whitelist now if you support the project and want to get involved as an investor. The crowd sale tokes sale is starting 11 days from now. For more information about the ICO, visit their website at Phantasma.io
If we look at the many online services that we use on a daily basis, we can’t help but realize that we are giving up our privacy very easily. Day in, day out we use ‘centralized’ email services as a part of our identification, verification.
We have grown accustomed to a perceived sense of security using services like Hotmail, Gmail, and others. The truth of the matter is that these email providers are centralized businesses.
This means that they have 2 serious points of failure from a user standpoint. One, their servers and security measures are out of our control and we are bound to be hacked one day. Another point of failure has to do with their business model, which is selling our data.
Yes, your data is being sold and yes, your privacy and security are not in your hands anymore. You don’t hold the key and you have no control over which preying eyes are reading your personal mail alongside you.
The Phantasma Protocol is designed to change that paradigm. The protocol aims to return your privacy and content ownership to you. In order to achieve this goal, it is building a decentralized data management and content sharing platform with development tools like SDK and API.
The team is currently working hard on creating SDK development kit, which will allow different decentralized content services to be built using the Phantasma Protocol. The SDK should be ready by Q3, 2018.
While Email is just one of the best use cases to explain the power and importance of the Phantasma Protocol, it can do a lot more!
Without going into too much technical detail, let us describe the main process. A user will be able to create ‘boxes’ which are similar to the concept of an ’email inbox’ for example. The difference, however, is that you can store any file in the box. The box is linked to a Neo address, which you’ll be able to name for ease of use. Now step one is done, you are the only one with the key to open your box.
The second part obviously has to do with access to the box or gateway(GATE). You no longer give up the rights to your data. You essentially create your own set of customizable access rules to a specific box using their ‘Gate’ concept.
This doesn’t just allow you to set the rules for who can access your email, for example, it also enables you to decide who can watch your videos, your pictures, your invoices, your chats etc.. The entire ecosystem is designed to work with the ‘SOUL’ NEP-5 Token. These token are needed to create ‘boxes’, allow access to them, and more.
Now while the Phantasma Protocol team will start developing some of the real world use cases for their protocol, the idea is that other developers start building their own services. Think of decentralized chat services, decentralized content streaming or a Box Marketplace. Now, while the decentralized storage systems are still not fully functional from a cost analysis perspective, the advent of your decentralized content is coming.
In closing, I would say that I can’t wait to reclaim ownership of my emails and other content. I would also highlight that their ‘Email’ solution will be able to work alongside the currently used centralized email providers. So, this feature will definitely help with adoption. We will keep updating the community here at Neonbeginner.com as their amazing project evolves.
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