During the time that purchasing things online was a new concept people had concerns about sending our private information through the internet. It was unfamiliar and as humans we were worried about what the risks could be, but making purchases from home was way too convenient not to try. As we became familiarized with making online purchases we became comfortable with supplying our names, phone numbers, and payment information.
5. Has your private information ever been
sold or shared?
We’ve seen numerous examples of
what can go wrong when we trust third
parties with our private data, as it
inevitably gets centralized. Keeping
information centralized often leaves
the possibility of theft.
6. It’s common to hear about credit card theft
even when cards are never physically
stolen. New forms of fraud have developed
like account take overs (ATO), which are
affecting millions of peoples lives.
7. Overly lengthy terms of service
agreements are often required during the
setup of online accounts or an online
purchasing process, and we tend not to
think about what’s inside these
documents.
These multi page agreements often
outline how your information will be
used, shared, and in some cases sold.
8. Driven by profit motive, businesses have
created side revenue channels with users data.
Even when intentions aren’t bad, our
information has been centralized within private
servers exposing us to serious risks. Often
times our purchasing histories are recorded for
marketing purposes, creating ad placement
and other privacy related concerns.
9. MARKETPLACE OPTIONS TO
RETAIN DATA OWNERSHIP
Third party services have entered the
market to anonymize purchases with virtual
credit cards. A huge fault with these
providers is that signing up for their service
requires using at least your credit or debit
card, which still centralizes everyone’s
information in the company’s servers.
10. Often times services like
these have spending
limits that damper their
usefulness and some
retailers choose not to
accept them as form of
payment.
11. Decentralized markets for online
purchases are one of the latest
responses in the fight for anonymity
12. The emphasis is on peer to peer
transactions free of middlemen,
credit agencies, banks, and all the
associated fees and registration
information they require
13. A traditional client-server
architecture for account
information storage and
management is removed, and
instead blockchain technology
is used to decentralize
information over many user
devices.
14. The team at BitBay has created an
anonymous decentralized market for
transactions on the internet, our
marketplace client. You can privately buy,
sell, or trade goods and services.
15. Our smart contracting system allows
you to conduct exchanges using our
native currency $BAY or any other
cryptocurrency you feel like using.
You also have the option of bartering
with users if you don’t feel like using
currency for goods or services.
16. Signing up for an account is completely
anonymous, and there are no terms of
service requirements. Your account
information is kept decentralized using
blockchain technology, which means
your user data is protected from server
hacks.
17. There is no purchase history tracking or
third party possession of your information,
liberating you from the highly monitored
online markets and agencies you’re
familiar with.
18. THERE ARE NO RULES
REGARDING TRANSACTION
VOLUME LIMITS OR
TRANSACTION VALUE.
List as many items for sale as you would like,
with a flat transaction fee very close to zero.
19. To keep your business interactions
private we have built in an
anonymous communication system,
the Bitmessage protocol, so that no
phone numbers or emails are
required to sort out transaction
details.