Wealthman Adapts GDPR Philosophy

Wealthman Ltd. today announced that its European users will now benefit from extreme privacy in working with the super safe and effective Wealthman protocol as a result of the upgrading of our privacy policy and organising procedures in line with the General Data Protection Regulation (GDPR), which came into effect on 25 May 2018 after a two-year transition period.

Wealthman administers worldwide users’ personal data, including European users; European users today make up about 35% of the total number. Therefore, compliance with GDPR rules and procedures has been the recent focus for several months. The following have been successfully completed by the company’s lawyers:

  • All personal data was classified, falling into precisely defined categories such as user data, profile data, service data, transaction data, etc.
  • The use of each data category has been strictly limited and described in full in the updated privacy policy.
  • Platform customers receive full monitoring of their data: from consent to cookie usage to their right to erase, restrict or object to processing of their personal data. At any time, a customer may request a full report on the utilisation of his or her information.

As Andrei Huseu, Wealthman CEO, admits, the benefits for individual users are quite obvious – GDPR returns them control over their personal data, giving them the right to delete any piece of information they own.

This perfectly complements the values and nature of the Wealthman protocol, which are security and decentralisation.

We believe that the new approach to clients’ privacy will increase their loyalty. We are also confident that cultivating the values of data security in our employees will engender a new level of social responsibility, despite how difficult this challenge might seem.

About Wealthman

Wealthman Ltd. is a London (UK) based company developing a stack of protocols and micro-services facilitating the building of trustless wealth management services. The trustless design is used to overcome fraud and to bring efficiency.

The platform has existing clients and plans to exceed a volume of AUM of $2 bn within two years. The market values of its peers have grown significantly in recent years (e.g. Melonport has grown by 14 times in 1 year; Iconomi  by 10 times in 2 years).