What problems will this platform solve? Is it really practical? Won't it just be another central place for data hoarding?
Quoted ftom the whitepaper:
data hoarding is now the norm. In addition identity theft has been on the raise
Since it's blockchain, the system would be decentralized.
The payment system would be decentralized, but them being the platform that gathers information, we can actually say that they will be the central authority and since they have our information, they are hoarding our data.
Don't you mean on the rise? Well, identity theft is not limited to these online information collecting platform, but they mostly focus on getting card information so. Data hoarding is selling information, and with this platform, you control who can see your information so.