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
December 21, 2018

December news from BABB HQ

December news from BABB HQWe’re excited to tell you about LATOKEN and the Cayman Islands…BABBDec 21, 2018We went live on YouTube yesterday to give you two pieces of news that we’re very excited to share. You can watch the full broadcast below, and here’s a quick...

From: BAX
December 05, 2018

Progress Report #11: November roundup

Progress Report #11: November roundupDispatches from BABB HQBABBDec 5, 2018BABB team stand up strategy sessionNovember has come and gone in a whirlwind of activity at BABB, and we have a lot of exciting updates for you.BABB on Blockfolio SignalsIf you use the Blockfolio app to track...

From: BAX
November 01, 2018

Progress report #10–October roundup

In London, the autumn mornings are misty and chilly as the BABB team trek across town to the office. The evenings are drawing in, Halloween has happened and Christmas trees are appearing — time for another monthly roundup!Roadmap 2.0On Friday 18th, we released our updated roadmap. Roadmap...

From: BAX
October 19, 2018

Introducing: Roadmap 2.0

It’s October, meaning we have now entered Q4 of 2018. Eight exciting, busy and productive months have passed since we closed the token sale.As a reminder, here’s what the BABB team has achieved since February…We finished the designs for R1 of the app, which are now in development, and...

From: BAX
October 10, 2018

Equity crowdsale: complete!

We are delighted to tell you that the equity crowdsale is complete. We have officially closed the funding round at £1.4 million and all 1,232 investors have just become new shareholders in BABB.If you invested in the equity crowdsale, we’d like to thank you for your support of the BABB...

From: BAX
October 02, 2018

Progress report #9 — September roundup

Progress report #9 — September roundupCatch up with the latest from BABB HQ.September has been a cracking month in the BABB office; everyone is incredibly focused and there’s a “back to school” feel in the air.Here’s our video roundup from September, plus — read on to get...

From: BABB
Upcoming ICO's
This week overview
Token Name Starts
Cryptocurrency rates
*Last hour average price&change
Coin Name Price Hour
Bitcoin logo BTC $3634.79390027 0.11%
Ripple logo XRP $0.3276798323 0.27%
Ethereum logo ETH $121.659447111 0.11%
Bitcoin Cash logo BCH $130.142969184 0.2%
EOS logo EOS $2.4402398774 0.25%
Stellar logo XLM $0.1068531733 0.42%
Tether logo USDT $1.0166585409 -0.07%
Litecoin logo LTC $30.9504760924 0.34%
Tronix logo TRX $0.0245519517 0.08%
Cardano logo ADA $0.0445328787 0.48%
IOTA logo IOT $0.3071782717 1.05%
Binance Coin logo BNB $6.1195398541 0.32%