Data Blockchain

What is Data Blockchain?

With the development of the internet, user data has grown explosively, with 4.2PB of data being generated every second in 2023, most of which is personal data. However, all personal data is currently owned by centralized platforms, and the management of personal data by these platforms is not transparent, leading to a large number of data breaches and the value of personal data flowing to centralized platforms, with users essentially unable to benefit from their own data. Data Blockchain addresses these pain points by combining decentralized mechanisms and various privacy protection mechanisms.

Data Blockchain is the cornerstone of maintaining decentralized identity and data sovereignty. It not only provides users with a decentralized identity for their data but also manages data identity through user identity. This approach can expand the ways data is used, maximizing the value of user data. Data Blockchain ensures the integrity of data sovereignty through proof of storage, which is entirely dependent on the data itself rather than potentially invalid links. This method ensures the authenticity and integrity of the data.

Data Blockchain supports almost all decentralized systems, ensuring that data is accessed and reasonably reallocated in a decentralized and private manner.

Advantages of Data Blockchain

In the Memo protocol, Data Blockchain implements the binding of data sovereignty and user identity and proposes a new method for data management and tokenization. It brings significant benefits to both users and enterprises.

For Users

• Easy to Use: Through a data wallet, users can manage their data assets like managing their NFT assets.

• Data Privacy: Through various privacy protection mechanisms, the security and privacy of personal data throughout its lifecycle can be ensured. No organization or individual can access the user's data without the user's permission.

• Integrity of Data Sovereignty: Through additional proof mechanisms, the integrity of on-chain metadata and off-chain encrypted personal data can be ensured.

• Data Monetization and Value Distribution: By tokenizing data, users can enjoy the value of their data while ensuring personal data ownership. By adding various data permissions after data tokenization, the value of data assets is amplified.

• Cross-Chain Identity: Save the same identity across multiple blockchains, supporting broader participation in decentralized ecosystems.

For Enterprises

• Protect User Privacy Data: When an enterprise accesses user authorized data, it can ensure that user data will not be leaked during the access process.

• Targeted Advertising: Companies can conduct comprehensive data analysis based on user authorization data and deliver advertisements to specific users.

• Legal Compliance: Ensure that all data collection, processing, and value distribution activities are fully compliant with relevant laws and regulatory frameworks, giving enterprises confidence in handling user data responsibly and legally.

Use Cases and Applications

Data Wallet

By logging in with a decentralized identity through the Memo protocol, users can view and manage their data in a data wallet. With a data wallet, users can access their data assets like accessing NFTs. Additionally, users can log in to various web3 applications using the data wallet and earn income by sharing their data. Using a data wallet ensures data ownership while generating revenue.

Social Recovery

Social recovery functionality can be set up for decentralized identities in the Memo protocol, allowing access to decentralized identities through trusted individuals' social networks. Social recovery methods provide additional security and convenience for users' decentralized identities.

Web3 Unified Identity Login

Other web3 applications can integrate the decentralized identity of the Memo protocol, allowing users to log in to other web3 applications with a single identity. This method allows users to manage their identity and data across various platforms without dealing with complex addresses, ensuring a secure and unified identity experience.

On-Chain Reputation System

Users can authorize an on-chain reputation system to modify their reputation data, with any on-chain or off-chain actions anchored to the main chain's reputation system. After updating the user's score on the main chain, it synchronizes with other chain reputation systems. This solution ensures that user reputation is accurate and consistent, and any cross-chain actions by users will affect their reputation scores.

Targeted Advertising

Advertisers can target ads for each category of users without accessing users' private data. After logging in to the platform with a unified identity, users can safely receive specific ads and earn revenue by viewing and clicking on ads. This method ensures that user information is not leaked to the advertising platform and allows users to benefit from advertising.

Data Market

By logging in to the data market with a decentralized identity from the data wallet, users can list their data assets from the data wallet for trading, selling ownership directly or only selling reading rights and other permissions. In this way, users can convert the value of their data into revenue and amplify the benefits by setting various permissions.

AI Training

Third-party AI platforms can purchase the right to use user data in the data trading market and use user data in a privacy-protected manner. This method ensures that user data does not leak during use. In addition, AI services trained by third-party AI platforms using user's private data can provide personalized services to users.