DALLAS, TX / ACCESSWIRE / July 21, 2022 / The HBAR Foundation today announced a collaboration with WebShield to support the launch of Personal Privacy Networks that will offer individuals unprecedented privacy, cybersecurity, and identity protection, enable convenient access to data, apps, digital content, online services and secure messaging, and link disparate records and accounts to personalize, optimize and automate online activities without risking privacy or control of sensitive data.
The HBAR Foundation's Privacy Market Development Fund is providing a grant and technical assistance to support the implementation of WebShield's Quantum Privacy and Proof of Trust on the Hedera network's Consensus and Token Services. An initial grant will accelerate WebShield's path to a self-funding Privacy Network Exchange on Hedera-enabled infrastructure. This infrastructure allows people and organizations to safely tokenize, pool and reuse their most sensitive data and protected rights, without jeopardizing their privacy, security, regulatory compliance or commercial rights.
The Privacy Network Exchange will empower individuals with personal control of their data and online activities, eliminating the conflict between privacy and personalization and aligning incentives by rewarding resource sharing and beneficial behaviors that create value for individuals, enterprises, and society. Participating individuals and enterprises will be remunerated for their online activities and use of their resource rights without requiring that they invest money or have specialized expertise, based on a unique token economics model supported by the Hedera Token Service.
"We're thrilled to work with the HBAR Foundation to bring WebShield's granular privacy and data governance controls to the Hedera network, for the benefit of its ecosystem of developers and applications," said Jonathan Hare, CEO of WebShield. "Implementing Proof of Trust on the Hedera network and leveraging its services to support decentralized identity, token marketplaces and payments services will allow the Privacy Network Exchange to scale to billions of people and millions of organizations, apps, and online systems, enabling a robust Web3 token economy driven by real-world value."
"WebShield represents an ambitious HBAR Privacy Fund project leveraging Hedera technology," said Jim Nasr, Privacy Market Development Fund Lead for the HBAR Foundation. "We look forward to the team delivering on the detailed scope of this initial grant and proving the excellent potential of their initiative."
Shayne Higdon, Co-Founder and Chief Executive Officer of the HBAR Foundation, commented: "Personal Privacy Networks have the potential to enable Web3 applications in even the most privacy-sensitive and regulated industries like healthcare, education, and global e-commerce. We're delighted to help WebShield leverage the Hedera network and ecosystem to accelerate the creation of a self-funding token economy driven by real-world value."
About the HBAR Foundation
Founded in 2021, the HBAR Foundation fuels the development of the Hedera ecosystem by providing grants and other resources to developers, startups, and organizations that seek to launch decentralized applications in Defi, NFTs, CBDCs, Sustainability, gaming, privacy, and other sectors. In addition to providing funding through a streamlined grant process, the HBAR Foundation acts as an integrated force multiplier through expert support across technical, marketing, business development, and other operational functions that are required to scale.
WebShield is a software company that has developed breakthrough innovations - Quantum Privacy, Proof of Trust, and the Unified Trust Model - that enable Personal Privacy Networks that empower people with privacy and personal control. WebShield is headquartered in San Francisco, CA, and is collaborating with dozens of ecosystem partners to launch a self-funding Web3 Privacy Network Exchange that allows people and organizations to safely pool, reprocess and reuse of their most sensitive, proprietary, and regulated resources, and to receive a share of the value-added resources and revenue derived.
Visit https://marketing.webshield.io/ to sign-up for Personal Privacy Networks, partner programs and developer information, and for more information about the EasyAccess Authorization Network, Quantum Privacy, Proof of Trust, and the Privacy Network Exchange.