BABB: Our approach to data privacy

startup privacy entrepreneurship data blockchain

Data privacy may be a hot topic right now, but we’re not talking about it because it’s trendy — we’re talking about it because it’s central to the BABB proposition.

If you prefer to watch rather than read, you can also check out this video of Rushd talking to Annie about BABB’s approach to data privacy…

We have just had received approval of our application to patent BABB’s data privacy technology. This is fantastic news, because it means the patent is available and we can get in first and claim the intellectual property.

Privacy by design

In the BABB app we will implement privacy by design. Privacy by design means that the user is in control of their data, rather than the bank. By default, users decide which data they disclose and to whom. BABB customers will have ownership of their data and give their explicit consent to share it.

In the future we may implement a data monetisation mechanism, wherein customers can choose to charge to give third parties to access to certain data. We are building the system architecture in a way which allows us to implement this feature later.

What about KYC information?

When it comes to the data collected to carry out KYC (know your customer) checks, the user will provide BABB with very limited access to their personal information in order to verify their identity. This information varies depending on which tier of account they are opening, and includes information such as your name and passport data.

This data is only accessible by the regulator, for example the FCA, to ensure we comply with KYC and AML (anti-money laundering) regulations. BABB cannot mine or sell the data provided by the customer as part of the KYC process.


BABB is natively compliant with the GDPR (General Data Protection Regulation), which is a new piece of European legislation which has just come into force, stating that users must give explicit consent for their data to be used.

We comply by elevating customers to the role of data controllers. In most cases, the bank or ecommerce platform or insurance company is the owner of the data and the controller. We give the control to the users and we only process the information if they give us permission.

BABB will launch to markets beyond Europe within two years, meaning our European-standard data protections will be applicable universally. Some governments in emerging markets have not yet implemented any regulation for data privacy and protection, and we intend to blaze a trail in this area.

Technology basis

BABB uses a consortium-type blockchain which allows us to be compliant and share data with regulators. This type of system enables accessibility for three parties: customers, BABB and regulators.

Our data privacy mechanism is based on smart contracts to automate the data flow in the platform, making it far quicker and more efficient than current data processing mechanisms used by banks, with less friction and lower costs.

Patent pending

BABB’s approach to data privacy is new and very different to the industry standard, and as such our intellectual property needs to be protected. We have applied to patent this data privacy technology and we have received approval of our application, meaning the patent is now pending.

We now have one year to design, test and implement the technology and demonstrate the process to the patent office and regulators. We’ll keep you updated with our progress towards getting this patent granted.

In a nutshell…

We take privacy very seriously, especially in light of recent scandals. We have learned from the experience of the market, and decided that the best approach is to give the control to the users and empower them to decide how their data is used.

Our approach to data privacy was originally published in BABB on Medium, where people are continuing the conversation by highlighting and responding to this story.

Original article was created by: BABB at

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.

Interested in Cryptocurrencies and ICO's?

Follow our telegram channel for daily cryptomarket reports!

Join @cointrends

Stay on top of Altcoins and ICO trends.

Subscribe to our free Weekly Cryptomarket report

Delivered once a week, strongly to your inbox.

Subscribe to our mailing list
August 18, 2018

Hi Vincenzo, unfortunately that is a confidential document.

Hi Vincenzo, unfortunately that is a confidential document. However, much of the information in the IBP (available to download on Crowdcube) can also be found in the RBP. Hope this helps!

From: BABB
August 17, 2018

Equity crowdsale: last chance to invest

The equity crowdsale will close 11:59PM UK time Saturday 18 AugustIt’s your last chance to invest in the BABB equity crowdsale.The campaign will close at 11:59PM on Saturday 18 August. If you want to invest and buy shares in BABB — it’s now or never!What happens next?After the sale...

From: BABB
August 16, 2018

Product team deep dive: August edition

Welcome to the first update in a new series of deep dives.This week, the BABB product team is taking the spotlight. Annie sat down to catch up with Ricardo, Chief Product Officer, about the progress his team has made in recent weeks and what they’re currently working on.A: Hey Ricardo....

From: BABB
August 14, 2018

Progress report #7–14.08.18

Goings-on from BABB HQ (and details of the changes we’re about to make)Welcome to the latest official BABB progress report — and the last ever mid-month progress report.We’re shaking up the way we communicate at BABB HQ. Activity and progress are accelerating faster and faster and we...

From: BABB
August 03, 2018

Equity crowdsale: 100% funded!

We are happy to announce we have hit our £1.5 million fundraising targetExciting news: the BABB equity crowdsale is now 100% funded, meaning we have secured £1.5 million of funding to meet the minimum capital requirement for BABB’s banking license applications in the UK and...

From: BABB
August 01, 2018

Gaurav Rana joins BABB as CTO

We’re very excited to introduce our new CTO, Gaurav Rana. He’s taking over development of the app and blockchain platform and will be responsible for everything related to BABB’s technology.Gaurav is currently in Bali and will be heading to London as soon as his visa arrangements are...

From: BABB
Upcoming ICO's
This week overview
Token Name Starts
DESI (DESI) logo DESI (DESI) 1 days
CoTrader (COT) logo CoTrader (COT) 1 days
RoBust Defense Token (RBDT) logo RoBust Defense Token (RBDT) 1 days
Rubius (RUBY) logo Rubius (RUBY) 2 days
Cryptocurrency rates
*Last hour average price&change
Coin Name Price Hour
Bitcoin logo BTC $6409.23645277 0.03%
Ethereum logo ETH $298.066799348 -0.1%
Ripple logo XRP $0.3408686218 2.12%
Bitcoin Cash logo BCH $556.079220596 0.17%
EOS logo EOS $5.1687863907 0.2%
Stellar logo XLM $0.2257173502 0.21%
Litecoin logo LTC $57.2131715632 -0.06%
Tether logo USDT $1.0013239968 -0.16%
Cardano logo ADA $0.1014122633 0.79%
Monero logo XMR $96.6692794977 0.38%
Tronix logo TRX $0.0217917768 0.22%
IOTA logo IOT $0.5077886981 1.54%