The MADANA blockchain platform aims to create an ecosystem where users of networks can own and benefit from their own data. The Berlin-based start-up is already patent pending and is currently waiting for the patent to be granted to secure its business model. Meanwhile, everything is in place for the first token sale on the Lisk blockchain.
Last December we spoke for the first time with the managing directors of the Berlin Blockchain start-up MADANA, Christian Junger and Dieter Schule. At that time they presented their vision for the MADANA ecosystem, a project to decentralize the data market and make it fairer. In the future it should be possible for private individuals and SMEs to enter the data market themselves and to manage and trade their own data independently.
The Token Sale of the PAX
The MADANA token PAX will also play a major role in this ecosystem. In the form of PAX, users of the platform will be rewarded for providing their data. As announced in February during the rebranding of Lisk, PAX will run on a sidechain of the Lisk blockchain. MADANA will thus be the first project to use the possibility of the Lisk sidechain development kit.
Now the time has finally come: The PAX-ICO is just around the corner. On September 1st the issue of the MADANA token starts with the presale. The ICO is carried out according to German law and therefore complies with the regulations of the BaFin. It also depends on the outcome of the MADANA ICO whether the first sidechain project of the Lisk platform will be successful.
ICOs are also possible under German law
On the occasion of the upcoming ICO launch we talked to MADANA CEO Christian Junger: “Our PAX Token is based on the Lisk-Sidechain technology, which is particularly characterized by high scalability. Therefore the chances are good that many blockchain projects will use Lisk in the near future. MADANA is the first large ICO on Lisk and offers future projects additional added value and a novel business model.
MADANA is also a pioneer for German blockchain start-ups, because we conduct our ICO entirely under German law. This makes us one of the first to have managed to comply with the legal conditions in Germany. Since many topics in Germany are still legally unresolved, we had to have numerous discussions with lawyers and legal experts in order to get to this stand. We want to build MADANA into a long-term successful German company and are convinced that the BaFin requirements convey additional trust and credibility. In addition, we are setting an example in Germany with the ICO – ICOs are also possible under German law!
MADANA will use so-called Trusted Execution Environments (TEE) for data analysis. These are protected hardware components whose processing cannot be seen from the outside. With our patented process, we have discovered a new way in which data can be both protected and used in a useful way. This allows us to build a unique platform for data analysis from which all participants can benefit”.
For more detailed information about the MADANA project and the formalities of the ICO, please read the white paper and visit the new MADANA website. Have a look at our video interview with Christian Junger.