None of us actually owns a digital identity. We simply ‘rent’ identities from each of the websites or apps we use, resulting in an inefficient, fraud-riddled, privacy-invading mess. Additionally, each organization we interact with must store our personal information in massive databases. These ‘silos’ become gold mines to hackers and toxic liabilities for anyone obligated to store the data. A siloed approach to identity may have worked in the early days of the Internet, but with practically every business and billions of people now online, problems such as fraud are growing rapidly. The costs of these problems will soon balloon as billions more identities come online with the Internet of Things. Regulators try to police misbehavior by dishing out billions in fines each year, but they don’t address the root cause. Data breaches continue to occur almost daily, often because siloed identity creates massive troves of data attractive to hackers.
Solving the identity silo problem begins with a digital identity that you literally own, not just control — a “self-sovereign” identity. When combined with verifiable claims, it enables any person, organization, or thing to interact directly with any other person, organization or thing, with trust and privacy. If anyone other than you can “pull the plug” or change the rules for your identity, it isn’t self-sovereign, it is siloed – even if it uses ‘blockchain’ technology. True, globally scalable self-sovereign identity requires an open source, decentralized network which no single entity owns or controls. Until the advent of distributed ledger technology (DLT) this was impossible. Not any more. Sovrin, invented by Evernym, is the world’s only global public utility for trusted, self-sovereign identity. Like the Internet, it is not owned by anyone: everyone can use it and anyone can improve it.
- Any person, organization, or thing can actually own their digital identity – not just control it – independent from any silo.
- Any person, organization, or thing can instantly verify the authenticity of “claims,” including who (or what) something claims to be.
- Complete control of how, what and when information is shared, without added risk of correlation and without creating troves of breachable data.
As the Internet-of-Things keeps expanding, the need for interoperability and sharing of resources become a necessity. Billions of new devices are connected to the internet each year.
These devices like sensors, home appliances, connected cars and drones deliver economic value, but don’t have a way to engage in economic transactions. Device security is often insufficient, and privacy of information not guaranteed. A handful of large Web companies has control over the devices we use throughout the day and the infrastructure through which they communicate.
A decentralised approach is essential to enable the true sharing economy. Current blockchain technology offers part of the solution, however it doesn’t enable the required scale and frictionless micropayments for a flourishing machine-to-machine economy.
IOTA enables companies to explore new business-to-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees.
The main innovation behind IOTA is the Tangle, a revolutionary new blockless distributed ledger which is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees. Contrary to today’s Blockchains, consensus is no-longer decoupled but instead an intrinsic part of the system, leading to decentralized and self-regulating peer-to-peer network.
The unique IOTA Tangle architecture provides developers with a brand new set of tools for their applications in both IoT and Web. This nurtures brand new business opportunities for companies that prohibitive fees has kept in the realm of the impossible until now.
How can enterprise brands have a personal relationship with every single customer?
Enterprises are looking for online branding, training, and customer support channels that allow both profits and savings. Enterprises need to map, navigate and optimize the conversational landscape of millions of experts and learners.
Bots are replacing mobile apps as the next user interface platform. The bot market growth is exceeding app market growth and will leverage the 5bn+ user base of messaging apps.
However, nobody wants to talk with a robotic robot. This is the problem that Botanic is uniquely positioned to solve.
Botanic provides the tools to author, edit, and deploy multi-modal bots: namely mechanisms for personality, relationships and trust. Whether a chatbot, an assistant, or an avatar these conversational systems are highly social tools for knowledge exchange and dialogue markets. The team has decades' experience in VR and AI/NLP.
Botanic tools allow customers to deploy multi-modal, trusted AI personalities. These bots are unique in that they provide personality, relationships and trust. They deploy quickly and remember past user interactions.
‘[..] we don’t have the ability to develop and implement personality like Botanic!’, Senior Manager at Microsoft
In 2016, the world produced 16 ZB of data, but only 1% was analyzed — this needs to change.
A lack of trust prevents data sharing. Centralized data exchanges fail because they lack fair and flexible pricing mechanisms, data providers lose control over their assets, and there is a lack of transparency in how the data is used. So data remains locked up due to a lack of trust.
AI advances six times faster, when data is available
AI models have limited accuracy and usability without appropriate data. Ocean Protocol will unlock more data for AI. This should lead to more breakthroughs to help society. Ocean Protocol gives the tools to unlock the remaining 99% of untapped data.
Only a handful of companies today have both Data and AI
AI start-ups and researchers are drowning in algorithms, but lack data. The opposite is true for many large corporations. Ocean Protocol is the bridge between these two sides. By bringing together data and AI, Ocean Protocol will unlock a trillion-dollar market for data sharing.
Introducing Ocean Protocol
Ocean Protocol is a decentralized data exchange protocol that lets people share and monetize data while guaranteeing control, auditability, transparency and compliance to all actors involved.
Data Providers and Custodians need to feel safe before they will comfortably share data and Ocean Protocol is the solution.
How Ocean Protocol Works
Ocean Protocol provides the underlying technical foundation that data marketplaces need to connect data providers with data consumers in a trusted environment. It nurtures a data ecosystem and community. Ocean Protocol also enables developers to create new and innovative services for leveraging data.
Even with decentralized systems there is still the challenge of how utility is delivered to the end user, be that human or machine, and how value is directed to those most in need of it. Existing approaches rely on simplistic and deterministic categorisation of information, leading to market inefficiency.
The Fetch decentralized and open framework will empower new innovations in the mobility, infrastructure, and energy sectors to create an inclusive and immersive multi-modal systems powered by Autonomous Economic Agents.