Reclaim Control of Your Private Data in WEB3 - TOKEN2049 Singapore 2022

so we're going back to the basic in this talk talking about the missing components in blockchain in general which is decentralized control of your data so I'm coordinator and I'm co-founder of this project there's a lot of work behind this we've been around we have been building decentralized applications since 2008 before Bitcoin we have been working on this network for the past four to five years and I'll now try to give you a an idea of what we are actually doing here so I'll go back to the basic as I mentioned so in any economy the basic game is an exchange game the exchange of services and good for money and that's basically a game that breaks down unless you have enforcement so that's what we have the national stage come in there you have the legal system and that is actually works so you get rid of these bad outcome that people keep the good and don't pay so that we can also solve with blockchain and we're doing that for sure but what about the the data involved in all of this matching and on on all the trades and there this is kind of the kind of the bigger problem so if we go back and that's this is all about the digital economy and Trust so in any way how do you coordinate the economy whether you have a market driven decentralized economy or however you have centralized control you will have informational problems in there you lag informations and that we should try to solve so we have this aggregator that collect data and try to make sense of that in order to solve these basic uh information problems so the economy is just as serious of these exchange games so what we have here if you look and search what is the where's the bigger interest here there's a almost a equal competition behind in interest behind artificial intelligence and privacy so we have these competing things we need to find Solutions that so we can have both and that's what we're bringing the thing is that if you look at the most trusted institution in in the world those that run all these days that collect all the data are the least trusted institutions that are the international global companies the the governments and Etc what we're doing here is is web tree and we uh web tree is about decentralized control or of ownership but it's also and that's what we're bringing decentralized control of data so that's basically what we are adding to this and if you have these two sort of tools these two components decentralized ownership and decentralized control of data you have exactly what you need for any infrastructure to solve the basic economic problems that was on the previous slides so that's what we have set down to to solve and this is the team that is solving this we've been working on this for quite some time one of the co-founders uh even Danko you've known for the for the Myrtle domco has function we know that pretty much pretty essential for the entire blockchain he was also doing the basic resource in in NPC multi-party computation and it's these two decentralized technology that we merge into a single unified Network so since 2008 we have been building these decentralized applications from doing Key Management doing auctions doing a lot of things and we're now bringing this to the entire world through this open source Network where you can go in script smart contracts and use this advanced technology uh directly and I will come back to how this also facilitate interoperability so let's just a little bit short look back at the at the main net what we're doing here so we basically claim that we are solving what we call the extended trilemma so this Lemma is basically solved by the first one the scalability so it comes with the very fast sort of eager block producing it's based on on bft style consensus it has instant finalization it has complete sharding across all of this so you don't have a mempool in there for example so you have the constant prices there's no search pricing when you when you run into congestion in the network there's interoperability which is about come back to the Token economy because you don't pay with the token that we're selling you're paying with external liquid coins in the economy that is brought into the network and used as means of payment I'll get back to that and the basic value proposition is privacy that's what we have been doing for for decades and that's what we're bringing in with with this network behind this there's a number of Innovations and we are trying to sort of articulate this using some Greek gods so we have some fast provable uh track Fast Track consensus we have this complete sharding the scalable scalability we have a complete one-to-one collateralized bridging of external tokens we have zero knowledge layer which is a a matter of doing regulatory compliant privacy we have the whole privacy Machinery in there so you can come and do that with the unified public Drive private smart contract that allow you to go in from a public to a private space in the same smart contracts and then we have it all based on the market for trust so it's not proof of stake it's not the most richest that is going to be the most trusted it's actually the most trusted node that is going to be the most powerful notes and that's both in terms of relative performance in the PHP Network and it's also about the users coming in and assessing the nodes themselves so that's kind of some of the very brief some of the technology that is in this uh in the network the very core part very core part of the network it's a very cool part of the business model it's a decoupled token economy so we are selling a MPC token that MPC token can be used for staking and it's kind of an entry barrier to run a node if you run a node then you also become part of a stream of rewards fees that is coming in from people using the network and those Rewards or those fees are paid in external coins to be each it could be harder it could be Bitcoin it could be external coins from from any existing blockchain out there so values that is immediately liquid you can just go and use it so what it does this decompet is that a number of things so you have a decoupled token economy between the objectives of a store value as well as a means of payment and you also have which I'll come back to a way to to facilitate a collaboration with other networks so we can even though we are layer one and there's a number of reason why we are a layer one another layer two we have an economic alignment like if we were a layer 2 and that's actually part of this illustration here so so we already have Partners we have integrated with ethereum we are integrating with polygon we are working with cadana and a number of other networks to do exactly this so what we're doing here is that we are bringing in the tokens used as means of payment on the Patricia blockchain the particip blockchain provide a privacy preserving computation with a cross a smart contract operation you use the petition blockchain for your privacy components so you don't have to move your entire application into the position blockchain you can do that you don't have to do that and then you uh then you basically sit where you are and you bring in this new functionality this new tool of handling uh privacy on your in your applications get back to some of the applications and what we can actually use this for so what we have now is a version 3 of this network that is live we have been live since the beginning of June and you we are building sort of components since we believe in this open Innovation and also known as combinatorial Innovation so you you can come in you can pick up these components so you have public version and private version of some basic function analysis you can come in you can combine these in different ways and and solve problems give me just one example a uni shop there so so front running is an issue in in in in automated market makers so the node that is implementing the actual trades they could actually look into the trade that is going to be executed they can see what is happening with price go up go down and they could actually potentially place a bit a little bit so low buy High with this you will not be able to see as a node operator what you're implementing whether you're implementing a price that goes up or goes down so you solve the front running problem just by taking one of these components build that entry unit swap that's it a number of these kind of things where you take the bits and pieces and put them together in in new ways that's basically what combinatorial Innovation is is all about the last part of the talk uh talked about a few applications that we're working on and uh the first one the first one is oh actually I will talk a little bit about some major classes of applications that you can now solve with the Privacy one thing is advertisement you're now in control of your data you have bargaining power you can claim a fair share of the profit generated self surround identity you can have your your ID all your private data sitting there in an extended wallet solution and you can put that to work and prove things about you not sharing your data but just proof that you're above 18 that you have a covered certificate whatever you need to prove we have data exchange you can exchange data but now you're not exchanging data yet you exchange the use of your data which is a very different thing so you can keep selling your own data in the sense that's selling the use of your own data again and again you become part of the revenue stream because you have the bargaining power you're in control of your data you can do matching markets Financial Services I think the unit swap is a good example of that in general the whole thing is designed so it's a regulatory compliant it's designed with the gdpr requirements in in the back of our minds so it fulfill all the requirements and gdpr one of the strictest requirements on data security so looking at one of these applications this was one of the first projects that we built called instas it's all about the data exchange so here you have the users now in controller the data to have a token economy so you put these data you have people coming in wanting to buy the used of these data not the data itself but the use and they get tokens back and they can keep doing that again and again so so that's and in this case it's actually built together with social networks so you have some more Network effects but that's that's basically what what it does and we have 200 000 250 000 users on this and there's a number of way to extend this that kind of businesses with this network another solution is advertise we mentioned that earlier so a lot of things is going on here you are a data subject that is sold in the advertisement market so maybe you go to a website you they you they want someone wants to show you an advertisement there's your data is sent to some advertisers that bit on the right is sent to show you an advertisement so that's what we do here we you are now in control of your data you replace your private data in the specific context with a Persona that is sent now to that auction Market where you are sold as a data subject and you get that advertisement and and that's it that's the advertisement Market where you are in control of your data and thereby you get a fair share of the profit otherwise you're not participating so this league so it's cryptographical enforcement of your your data and your bargaining power the last one is actually a project that was started out like a Kobe passport collaboration in an African context uh it's turns out to be actually a self-solverigned identity solution where you have are in control of the Privacy so as mentioned earlier you you have your private data there you can prove things about these data so in this context it was all about proving that you had a certificate or had a vaccine vaccination of for covid without discussing a lot of your your health data and your personal data and and all that so so that can be used this is an application that we'll we'll use as a component for a number of the services that we build and everyone can come in and use that because it's kind of the starting point we probably need in many services to identify ourselves and we can do that without compromising on privacy which is what we are solving for and basically so with that I'll uh that's what basically the presentation of the Patricia blockchain so what we're doing here is uh two things we are now running a developer program and invite everyone to go to the website so you can sign up we have a hackathon coming up in Paris that's nice prices for people that come in and use this new tool build new services and and the other thing I just want to mention since I have another minute is that the mentioned collaboration with NGO which is a big part of what we have been doing earlier today we announced another collaboration which is with the international Committee of Red Cross here we are using the Privacy concern uh privacy computation to bring in cash or or stable coins into a crisis zones as a stable coin and without exposing the identity of the recipient of these uh tokens that because they're sitting there in a vulnerable situation in a crisis zone so if they are exposed as a person that receive a lot of money they will be even more vulnerable so that's what we're solving collaboration with the international Committee of Red Cross and with that I'm out of time so thank you for listening