The initial meaning of the DIW acronym is ‘’Digital Identification Wallet’’, however, the DIW platform offers a multitude of different services. It is a decentralized infrastructure that focuses on strengthening data security systems. In addition, it puts emphasis on the value of cryptocurrencies by promoting their usage.
So, what exactly does it do? It enables registered account holders, various organizations, and individuals to create their profile and manage their data in a secure manner. By using Blockchain technology, DIW selectively reveals this information to other DIW holders only. What that means is that the information is unavailable outside the DIW platform since the data is encrypted. That includes passwords and login details, identification documents, band details, credit card info, etc.
A good example of this protection is their Healthcare system where all the relevant data about your medical records are stored safely and securely. The way it works is by utilizing the decentralized and secure blockchain network. That gives the patients full control over who gets to see their electronic health records.
Their ‘’DIW Global Directory’’ has also proven to be a worthy addition to the platform, mainly because it can label trustworthy accounts. Due to an implementation of a global rating system, users accumulate points and increase the status of their accounts. The network constantly assesses the KYC (Know your customer) data of the accounts and manages their status accordingly.
Furthermore, there is a payment gateway for crypto and fiat currencies. It will allow potential buyers to log in with their DIW accounts and checkout without having to create another account on the seller’s website. That allows them to contact the seller directly and provide all the necessary payment details through the DIW platform. The system is convenient for use with other websites such as Joomla, as it offers a decent level of flexibility.
The DIW platform also features a base escrow service which safely keeps the transactions between relevant parties. It ensures that all the requirements are met before the contract gets executed. I think that the company clearly emphasizes the importance of trust by implementing this feature.
To summarize it in short, the whole platform consists of five notable sections. The sections are the DIW digital vault, Electronic Health Records, The Global Directory, Paid Escrow, and the Payment Gateway.
The DIW team consists of about 14 members and 9 advisors. I will not mention all of them for the sake of keeping this text readable.
When it comes to the team members, Stephanos Constantinou, Christopher Zenios, and Simon Zenios stand out. The first two are the co-founders of the project and both of them share many years of experience when it comes to blockchain technology. Christopher is also a co-founder of Alcaeus Lab. Simon Zenios is an ICO expert who also happens to be a corporate lawyer. He graduated from the University of Nicosia in Cyprus (B.A. in Law. He worked on other projects such as Web Theoria and Alcaeus Labs, which makes him more than qualified to be on the team.
Simon Cocking - He is the DIW project’s advisor. People know him as a renowned blockchain expert who has more than 20 years of experience. He is also a professor at the Dublin Institute of Technology. Some of the other advisors are Dinos Pastos, Stelios Stylianou, Artur Oganov, Sydney Ifergan, and more.
Taking into consideration that the DIW project is relatively new, it’s safe to say that there’s is still room for improvement. The project does not bring something innovative. Instead, it utilizes the already existing technology to stress out certain factors such as data security.
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