Startup Spotlight #57 Mimirium

December 18, 2020

As big data and data science surround every aspect of our lives, data security and privacy are getting much more significant since a lot of private information is vulnerable to be stolen. Protection and security of data are their most critical stages than ever. Blockchain technology just here rescues us from the threats. It is functioning enough to address the challenge of how to secure the data and prevent malicious cyber-attacks. MIMIRIUM NETWORK from Bulgaria is an ecosystem that allows users to be compensated for the data mining and analysis of their personal data and behavior without their identifying personal data leaving their control. 100% GDPR compliant, 100% anonymity, and privacy. This ecosystem of different tools and protocols collects user information and stores it securely on the user's own device. All users running that software, form a distributed network database, which can be used to extract aggregated anonymous information. For their participation, the users get paid. It is a form of Universal Private Data Basic Income. At the same time, the system allows businesses to perform powerful targeting and still be 100% GDPR compliant. Co-founder and CEO Georgi Christov highlighted the significant points in their pathway.


Tell us about your team 

 Georgi Hristov - Founder and CEO of the company. He is responsible for all administrative activities and tasks. He represents the company in front of investors and at different events. Main product owner role. He has 12+ experience as a project manager. He is an expert in blockchain and business processes, having also vast experience in digital marketing. Have one successful project EU FUNDS in SME’s Innovations Start-up program in Bulgaria;

Galin Dinkov - Founder and CTO of the company, he is responsible for developing activities and tasks. Software engineer and manager for more than 20 years, he founded several game dev companies (Zariba, Casualino among others). He developed successful mobile apps and games with millions of players. Has experience in big data and analyzing user behavior. He is one of the leading blockchain specialists in Bulgaria. Founder of NGO CryptoVarna.

Kril Kostov - Fullstack developer and leading backend developer. 15+ years of experience. In his career, he was a vital part of leading IT companies in Bulgaria. His vast experience in data architecture and different technologies like C#, .Net Core, Python, and Mongo DB make him a very significant part of our team.

Vassil Dimitrov - Front-end developer and UX. 5+ years of experience. Experienced User Experience Designer with a demonstrated history of working in the information technology and services industry. Strong engineering professional skilled in SASS, BEM, Vector Illustration, Front-end Development, and Web Design. The main focus on TypeScript, Angular 7. He is responsible for our UX design of apps and business interface.

Simeon Hristov - full-stack developer. Experienced software developer with various interests, specializing in Microsoft .NET platform. Interests are situated in Web Development, Machine Learning, and Blockchain. The main focus on Etherium, C#, .Net Core, Xamarin. He is responsible for developing our mobile app engines.


 

 When and why did you found your startup?

 While we believe that, only the user must own his data, we also understand the need for data on a global scale for business and statistical purposes. Therefore we want to give a solution to this issue by protecting the personal data of our users, and at the same time, allowing companies to do market studies, fulfilling the General Data Protection Regulation. We create a new fairer and safer way for keeping, sharing and using users’ data. Overall, we in MIMIRIUM believe that owning and managing your own data must be a fundamental right, no matter if the data is in the real or digital world. Our future is each time more connected with information technology; therefore, we should be extremely careful about how we move forward in the internet world. We have to be sure that we can control our digital identities and all data we generate in the global network. We have to be sure that we receive a fair reward for our time and attention. This can be a new engine of a whole economy model – user-driven and user-centric. Our network is just the first step in this direction.



What are your unique and key features?

 Our system is developed entirely by our team in house. We were able to develop and assemble all needed parts of it completely in house. Several companies work in the same field but all of them are focused on providing only the opportunity for their users to sell their data directly to the businesses. We do not do that – we give the opportunity of our users to sell a computation over their data without revealing the data itself. All computations are done on the users’ devices and after that passed to the aggregation nodes which have 3 layers of anonymization. That approach allows us to guarantee 100% anonymity and full privacy protection. Our main advantage over the standard model of centralized data storage of users’ data is that we can provide much higher security of the users’ data. In our system, hackers must attack every single user’s device one by one to obtain any data. Moreover, if the users’ do not keep their cryptographic keys on the same devices these breaches are completely useless because hackers will obtain only encrypted data.

We use in our system two of the most advanced cryptography techniques – zero-knowledge proof and homomorphic encryption which combined with multipart computation processes that we use for aggregating the results provide 100% anonymity of our users and provide full protection of their privacy and private data. We disrupt the whole data acquisition market and provide both users and businesses more fairness and value.

 

 Tell us about the numbers that matter to you

 Raised capital - 225000 EUR

Beta-users in private beta - 489

Selected as an associated partner for National Statistics Institute of Bulgaria in WPL Trusted Smart Statistics part of ESSnet on BD II of EUROSTAT. Paid test pilot project for 7,500 EUR.

 

 What are your plans for next year and the next 5 years?

 Besides the primary system, Mimirium Protocol can be used for multiple B2B and B2G SaaS solutions. We have defined 4 more which are in our pipeline for the next 12 months:

Mimirium Surveys – a SaaS platform for internal surveys for companies that need a more engaging way for interaction combined with 100% anonymity of the votes and rewarding points system.

Mimirium Health – a platform for data-mining over the health records of GPs and/or Clinics. No personal patient data can be transmitted, all results are aggregated and anonymized. 100% GDPR compliant. All GPs receive payment for the data-mining over their part of the data. Fully decentralized.

Mimirium Talents – a SaaS platform for internal attestation and reverse hiring of IT specialists. A combination of different assessment tests and rewards.

Mimirium Smart Statistics – a SaaS platform for data-mining of different sensors in the city. (IoT) An application that monitors the movement of different groups of users with different disabilities and compares them with the movement of a control group of users without disabilities. Guaranteed 100% anonymity and full privacy protection.

 

 More about Mimirium

 Co-founder: Georgi Christov

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