On Tuesday, April 30, 2024, a new company called Dwinity announced its mission to address the growing concerns around data privacy and empower users to regain control of their personal data. With the rise of data breaches and the increasing value of personal information, Dwinity aims to create a decentralized data economy that will benefit industries such as healthcare, insurance, and finance.
Dwinity’s goal is to give power back to users and eliminate information asymmetry in the data economy. The company has developed three main components to achieve this: data control, data gold, and data cash. These components include decentralized data spaces for storage and sharing, decentralized AI tools for data analysis, and a fair marketplace for data exchange and monetization.
Currently, Dwinity is in the process of closing its initial seed round, with a total of $3 million raised. These funds will be used to develop prototypes that will be released to the market in 2024.
In addition to Dwinity, the company Nillion has also emerged onto the scene as the first “Blind Computer” powered by a decentralized network of nodes. Nillion is focused on “Blind Computation,” which uses privacy-enhancing technologies such as multi-party computation, fully homomorphic encryption, and zero-knowledge proofs to protect sensitive data. Nillion has already attracted a notable group of developers from various industries, including AI, DeFi, medical data, and global identity.
Nillion’s parent company, Nilogy, was incubated by CoinList’s seed program and has a team with impressive backgrounds in companies such as Uber, Hedera Hashgraph, and Indiegogo. Dwinity CEO Peter Koenig expressed excitement about the potential partnership between Dwinity and Nillion, stating, “This is a major step on our way to building the leading ecosystem for sensitive data together with one of the top players in the market for the handling of such valuable data. We are looking forward to the cooperation which will add significant trust and competence to both initiatives.”
For more information about Dwinity and Nillion, please contact Christian Mangold at cm@dwinity.com.
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