Cryptelo is a blockchain-based security system that enables secure data transmission through the provision of encryption as a service. The current status quo in the data sharing system is severely flawed. Individuals give corporations their data but have no say in determining where that data goes.
Without much effort, large institutions are able to share user data amongst themselves or sell it to other parties who in turn use it for targeted advertising
Cryptelo seeks to even the odds…the company aims to create an ecosystem where user data is left alone, and it is shared only with the owner’s permission, securely with the infallible defenses of blockchain technology. Cryptelo’s strength lies in the fact that it is a zero-knowledge platform that employs the use of private keys to secure or unlock user data.
The system was built to achieve four fundamental objectives, which from a general point of view, improve the user experience by establishing a secure means of data transfer. On Cryptelo, data will always remain under the control of its creator.
The platforms fundamental objectives:
● To ensure that data is not leaked or stolen through the use of encrypted data storage
● Data is not sent to third parties through data mirroring
● Users can fully enjoy the benefits of blockchain management
● Data implementation is simplified and that the platform can be integrated into other services
The features which Cryptelo platform has to offer are immensely beneficial to the business and finance sector. Cryptelo uses smart contract programming. It is a technology that vastly improves the efficiency of business operations by securely automating transactions such as trade finance and supply chain document handling. In other words, smart contracts are pieces of software that enhance blockchain functionality from that of a simple database to an infrastructure capable of automatically executing the terms of a multiparty agreement. Smart contracts are implemented by a computer network through the use of consensual protocols to reach an agreement on the series of actions resulting from the execution of a contract.
Clients will also receive maintenance and technical support. For developers, the platform allows for the implementation of state of the art security even for those who do not have extensive knowledge of cryptography. The platform has a well-researched API with several examples of how it could be used. Developers also get dedicated support during implementation. All applications designed to work with the Cryptelo infrastructure will use a server API for interconnectivity.
Access to the server will be paid for in the platform’s own currency (Cryptelo Tokens). The platform’s tokens were assigned acronym CRL and are priced 1 ETH = 12 500 CRL for the duration of the sale. There are a total of 500 million tokens; 20% is for a currently running presale, 30% has been set aside for a public sale, 25% of these will go to the company, 3 % is for a bounty program and the last 22 % is meant for expansion (give for free to most promising projects).