Klever & Privacy

People tend to keep their data to themselves in a world full of intrusions and an unhealthy level of mistrust between individuals, organizations, and governments.

This is not necessarily because they want to hide themselves in secrecy but as a result of the growing trends of data theft and misuse by these same individuals, organizations and governments. 

What is privacy?

Privacy can be defined as the ability of an individual or group to seclude themselves or information about themselves, and thereby express themselves selectively. When something is private to a person, it usually means that something is inherently special or sensitive to the individual. Hence the individual would require some level of personal protection or space to themselves.

There are many different levels of privacy classification for which the European Union has also enacted a law to back the protection of personal data distribution and also help in the protection of the data privacy of individuals shared across the world. The General Data Protection Regulation (GDPR), which is a legal framework that sets guidelines for the collection and processing of personal information from individuals who live in the European Union. 

The major goals of the GDPR are to maintain lawfulness, fairness and transparency; purpose limitation; data minimization; accuracy; storage limitation; integrity and confidentiality (security); and accountability. Such information shared across any medium of communication in both hard copy and electronic are bound by these laws in order to protect the privacy of the owners of the data being processed.

This has also found its way into the crypto space where massive amounts of data is shared by the click of a button and this is evident in the way and manner in which centralized exchanges request information of their customers and users through their Know Your Customer (KYC) and Anti Money Laundering (AML) data capture systems. 

In a nutshell, this has collated massive data of individuals and organizations which can be used in a wrong and detrimental way if not properly checked by guiding laws as enshrined in the GDPR. Little wonder why so many centralized crypto exchanges have been hacked and liquidated by the hackers of the world causing massive financial losses to the companies and individuals whose funds are with their custody.

However, the Klever team had taken massive steps in the thought process of producing an exchange and a wallet system that would only require personal data to increase the users security by the use of KYC, for instance. That  sets the users of the platform at liberty from submitting any form of data for mining or sharing purposes.

This has given the users so much freedom to create their own wallets from the comfort of their mobile devices and make them less susceptible to data theft and data hacking from hackers through their email addresses, telephone numbers and other personal data which is requested from most centralized crypto exchanges.

The Klever team are indeed conscious of the safety and security and most importantly the privacy of their transactions of the users of their platform in every way possible hence we encourage people to switch to a secure and more private platform and wallet system like the Klever wallet and the Klever exchange for trading and storage of the funds in crypto currencies.

It is indeed a Klever thing to do.

By James Enajite

Klever Writer