Moca Foundation has announced the launch of Moca Chain, a new blockchain level focused on user data management and identification. The platform aims to address modern security issues and consumer data control.
Goals and Functionality of Moca Chain
Moca Chain, part of the Moca Network strategy, will operate as a modular EVM-compatible blockchain network. The platform will allow users to manage their data while applications can verify it across different chains. This is achieved through decentralized data storage and integration with various consumer applications. The core token for platform operations will be MOCA Coin.
Why Moca Chain is Needed?
According to Yat Siu, co-founder of Animoca Brands, the current single sign-on (SSO) system represents a centralized point of failure that threatens users' data security. Moca Chain seeks to provide users with decentralized control over their data, freeing them from reliance on centralized platforms. It offers an innovative solution by creating an ecosystem where users can own their data and benefit from it.
Potential Applications and Market Opportunities
Moca Chain provides solutions for various industries such as healthcare, finance, and recruitment. For instance, it can unify electronic health records to simplify their verification across different healthcare institutions. Such capabilities ease the use of applications and expand access to services while minimizing the risks of data leakage.
The launch of Moca Chain has the potential to change the approach to data management and identification in the digital world, ensuring control and security for users. This new blockchain platform could significantly impact various sectors and grant users greater freedom in managing their data.
