web3 Archives - Page 8 of 10 - Partisia Blockchain

Data market and advertising: How Partisia Blockchain can revolutionize the advertising industry

Changing the data market business model from buying and selling of your data to buying and selling the “use” of your data.

Current advertising data market industry involves selling and buying of data. Regardless of the type of data the advertisers are looking for, it’s all about collecting the data from various means, categorizing it, perhaps pseudo anonymizing it and selling the data to advertisers. And data, as it turns out, is a very lucrative business. The global market size of the advertising market is estimated to be US$600–800 billion and the internet makes up about half of that size.

You probably have heard this statement before. If it is free, you are probably the product being sold. And this is a very common way for the data market players to create a “free” application that allows the collection of data that the market players will buy and sell. The more accurate the data, the more valuable. Google, Facebook, Twitter, Microsoft, etc all use similar business models. But there are other players in this market, some you may have heard of in the news (Cambridge Analytics for example) or smaller companies that trade your data under the covers. They will collect from various sources, reshuffle, and resell the data to others.

But as with any business model, there are challenges and the data market is not without its share of issues.

Stale data — In most cases, data is being collected and sold. This means it is a data collected at a point in time. This leads to stale data, only useful if it is used relatively quickly.
Lack of transparency — Users have very little transparency into how their data is used, where it is going and who ultimately ends up using them.
Valuation of your data — Users are unaware how much their data is actually worth.
Privacy laws — The vast amount of different data protection laws creates the data market players to both constantly shift their business model and ensure flexibility in their operational process to keep up with the varying different data protection laws around the world.
Ethical concerns — There are ethical concerns when companies knowingly or unknowingly expose your personal data. Because in most cases, the user is not aware of how much data they are agreeing to be collected nor how it may be used, they hand over the control of their data to a private entity.

How can Partisia Blockchain help?

Partisia Blockchain’s privacy first blockchain with research lead secure multiparty computation (sMPC) can help solve these issues and also provide data market participants with alternate business models that can bridge the gap between consumer privacy concerns and better data overall.

Users owning their data — The blockchain allows for a decentralized network where control of your data remains with the user. In a similar vain of “not your keys, not your token”, blockchain plus MPC allows individuals to retain control over their own data and selectively allow the use of the data.
Enable privacy of the user data — With Partisia Blockchains sMPC, data analytics companies can request computation to extract data they need without them needing to see the actual data. This allows for privacy to be maintained while allowing for computation of the data.
Rewarding users — Create an incentive model to reward the users for providing the use of their data
Real time data — Because the users data remain with the users themselves, the data becomes accessible in real time. When someone requires access to the user data, they can request the analysis and extract details from data that is up to date.
Transparency of the data — Blockchain is about transparency and through it users can understand exactly what data they have allowed access to, when the data is being accessed and be rewarded for the use of it.
Data privacy law compliance — Through sMPC and PBC’s jurisdiction management tool, compliance to data privacy and protection laws like GDPR can be implemented simply.

This changes the data market business model from buying and selling of your data to buying and selling the use of your data. By shifting the paradigm to a services model, new potential revenue streams become available while being able to solve some of the difficult challenges facing the advertising industry.

Projects like Blockchain-Ads and Kin are already looking to take advantage of this new model and we are exited to see where this will lead in the future.

Connect with us at build@partisiablockchain.com to see how we can help you create new business models, solve challenges and provide new incentives for the users to use your system.

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The SDG Summer School: Fostering the next generation of sustainable innovation

During the course of July, students, young professionals, academics, and industry leaders came together from across the globe for the SDG Summer School. This Summer School is organized by the University of Geneva and hosted in the SDG Innovation Lab, close to the United Nations as well as on different campuses around the world in parallel. Partisia Blockchain had the privilege of attending and actively participating in the program.

Groups of students were formed, assigned a coach and began to develop an idea into a project. The projects were all aimed at solving pressing problems and contributing to the Sustainable Development Goals (SDGs). After three weeks the groups pitched their projects to a jury consisting of decision makers from major institutions such as the University of Geneva, the Global Fund and the Olympic Committee.

I had the opportunity of representing Partisia Blockchain and coaching a group of students in creating an innovative solution to women’s health:

“Her Menstrual Trials” is an application using MPC and Blockchain to track women’s health trends and the effects of medications without revealing anyone’s personal health data. The blockchain would provide crypto-incentives to the participants and help store and track the data collected, while MPC would keep the data private, while allowing for real-time, continuous data collection from the participants.

Furthermore, Partisia Blockchain had the pleasure of sponsoring a student from Copenhagen to come to Geneva and participate in the Summer School.

The SDG Summer School is an impactful event empowering young minds to find solutions to the most pressing problems around the world. Partisia Blockchain is proud to support such an initiative and help to contribute to a brighter future for all.

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Muwpay — the ultimate “smart wallet” experience on Web3

Guest blog by Dhruv Malik, Sr Smart Contract Engineer and Gael Bokongo CEO and Co-founder at Muwpay.

Muwpay, founded by an educated and innovation-driven team, is on a mission to dissolve the barriers of cross-chain universes by designing a flexible, interoperable user experience. The team has been developing their pioneering protocol called MUWP (Multi Underlying Wrapped Payment), a multi-token protocol adaptable to a variety of formats such as smart wallets, smart widgets, or SDK.

We are privileged to be trusted by Partisia Blockchain, one of the key players in the blockchain space known for secure and private computation services. This partnership has led to the creation of a smart wallet specific to the Partisia community. Thanks to the technical support and global vision of the Partisia Blockchain Foundation, a secure environment has been established where users can experience cutting-edge solutions. This collaborative approach holds vast potential for the future.

We were thrilled to be interviewed by the Partisia Blockchain team to explain our journey so far on our first partnership with such a significant figure in the blockchain industry. Check it out here.

Muwpay is developing the smart wallet and cross-DEXliquidity aggregator protocol with the aim of:

Add tokens from multiple wallets in a few clicks.
Reducing the burden of relying on multiple bridges and DEX aggregators to manually do the transfers.
Providing best price and low slippage trades by making the on-chain orderbook resistant to front-running.
Ensuring that your funds do not get exploited by keeping features such as transferring limited allowance tokens, possibility to revert tokens.
Support for both hardware and software wallets.
Being able to search other wallets using ENS like naming service.

Thus, we provide full end-to-end wallet as a service for Partisia ecosystem

This will be the cross-native wallet that works as follows:

Create your account on Partisia using an external hard wallet and soon from a traditional Web2 account
Create smart account (on-chain smart contract wallet working similarly in terms of multi-sig)
Integrate various wallets and their tokens that you want to use in order to pay other accounts
Define the destination address that you want to pay the amount along with the destination token address and the constraints (maximum percentage of slippage, minimum amount out etc.)
Click on transfer (aka Muwped)

And then see the benefits of paying instantaneously in stablecoins using multiple denominations and low slippage.

For us, Partisia Blockchain ecosystem’s main characteristics were critical to launching our project on this ecosystem, services such as:

Bring Your Own Coin using Hermez Bridge: this allows wallets to reduce the challenge of onboarding collateral tokens from the Ethereum ecosystem. All of the tokens will be represented as 1:1 wrapped versions of the underlying asset, which can be transferred P2P between the wallets, and then redeemed into the original amount. Thus. bringing significant adoption.
ZK MPC compute and possibility for segmenting public and private parameters in contracts: This has been of significant help in developing contracts that keep certain computations private (like computation of gas fees and transaction ordering in the order book), but allowing possibility to generate the proofs regarding the nature of data. This helps us to resolve the issues regarding front-running, keeping information about the users sub wallets private, etc.
Dynamic scalability of producing shards: helps to significantly scale our capacity of our transactions and not being usually blocked due to the bottlenecks introduced due to the periods of intense usage, and, thus, providing more stability.
Having decentralized consensus of oracles to insure safety from malicious price and providing high availability of the pricing feeds for the mainnet tokens.

MUWP offers extensive benefits for crypto holders. It streamlines the conversion of tokens, reduces operational risks through secure and private computation services, and decreases gas fees by enabling any token for payment. The shards feature also improves transaction throughput. As such, MUWP enhances the overall cryptocurrency user experience, taking it a notch higher.

Thus, we have been progressing to build the smart contract protocol layer and also the mobile wallet, and are poised to release the beta test version around July. Feel free to follow the website muwpay.com for more information.

Overall, the partnership between Muwpay and Partisia Blockchain, and the innovations they are set to introduce, demonstrates a clear vision for a more efficient, secure, and user-friendly future in the world of blockchain technology.

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