Zebi Business Summary — Q3 2018
Zebi brings the real world blockchain solution to big data management — Safe, efficient, and interconnected. It has been founded and managed by passionate IIT veterans from Silicon Valley in 2015 and Zebi has developed its own technology. Zebi Chain™ (private mainnet) is operational and already used by real life governmental/corporate client to manage their valuable data today. After public mainnet launch in 2019 holding Zebi’s token will also provide masternode staking opportunities on top of the current utility value. Finally Zebi is about managing identity related data; identities of individuals, legal entities and assets will all be tied to the Zebi Data ecosystem to make appropriate, safe and efficient data exchange possible. In doing so Zebi provides a blockchain solution to safely store and interact with all identity related data.
The big data market
We have entered the era of Big Data: Connectivity is reaching all corners off the globe, having surpassed 5 billion people connected to mobile services since 2017, and expecting up to 6 billion by 2025 (GSM Association, 2018). At the same time connectivity costs are decreasing. This is leading to the digitisation and datafication of most activities. 90% of the world’s data has been created in the last 2 years only. This rapid increase of data, doubling every 2–3 years is expected to continue. Worldwide we’re expecting to reach 44 zetabytes of data by 2020 and a global Big Data market of $210 billion USD (Ma, 2017). The world is more interconnected than ever. For the first time in history, emerging economies are counterparts on more than half of global trade flows, and South-South trade (the exchange of resources, technology, and knowledge between developing countries) is the fastest-growing type of connection. While flows of goods and finance have lost momentum, used cross-border bandwidth has grown 45 times larger since 2005. The gaps between the leaders and the rest of the world are closing very slowly, but catch-up growth represents a major opportunity for lagging countries. Some economies could grow by 50 percent or more over the long term by accelerating participation. (Dobbs 2016)
Many companies grew more complex and inefficient as they expanded across borders. But digital technologies can tame complexity and create leaner models for going global. This is a moment for companies to rethink their organizational structures, products, assets, and competitors. (Dobbs 2016)
90% of large organizations are pursuing digital initiatives but fewer than 30% have fully realized their digital potential at scale In 2019, worldwide spending on digital initiatives (AI/big data) will reach $2.2 trillion, almost 60% larger than in 2016. (IDC, 2017)
Within India, home market of Zebi, the government is aiming to create a trillion dollar digital economy by 2022. Big Data management takes an important role. India’s big data is expected to reach 2.8 Zebibyte by 2020. The big data analytics sector in India is expected to grow 8 times by 2025 (to 16 billion USD), while AI adaptation is likely to go up with more than 200% by 2019 (involving 70% of all enterprises). One of the largest opportunities within India will be for experts such as Zebi to offer data organisation and analysis solutions to organizations owning data (IBM, 2018). The combined value of market available in India for the segments Zebi is currently operating in is pegged at 5 billion USD annually.
The big data security challenge
Big data has huge potential but it also comes with big risks. Cyberattacks have become a top global systemic risk with data loss hitting 81% of all companies in the past 2 years, and cyber costs projected to reach 6 trillion USD per year by 2021. Consumers are becoming increasingly wary and weary about data privacy, with 85–96% in the US and UK voicing concerns. Legislation on data privacy and security and anti-competitive behaviour, as well as a consumer backlash, are among the greatest hurdles to Big Data adoption near-term (Ma, 2017). Governments worldwide are realizing the need to add stringent data regulations to safeguard people’s interest with steep penalties for non-compliance. Examples are India Supreme Court Ruling on Privacy, European Union GDPR , Singapore’s Personal Data Protection Act and India Privacy Bill. However, enforcement of data protection regulations is still manual and are prone to manipulation. 30% of all companies are unprepared for GDPR While the EU GDPR affects nearly all European and global companies (Ma, 2017). For those who are prepared there are still serious concerns about the security of their current big data management systems set up.
For businesses, security incidents could cost senior executives their jobs and have serious reputational, brand and business impacts. Under GDPR’s 72-hour breach notification requirement, institutions can receive financial penalties of up to 2% of the previous year’s annual revenues for a first offence and 4% for repeat offences where the regulator has previously ordered remedial action. There are also possible criminal penalties for executives deemed responsible, and consumers and affected third parties have the right to sue organisations responsible for data breaches. (The Paypers, 2017)
Securing big data has become a major issue for governments and enterprises alike, and the solutions to this have not yet matured.
In the age of digitization and big data managing identities well on an individual, legal-entity & asset level has become increasingly important. Individuals are participating in globalization directly, using digital platforms to learn, find work, showcase their talent, and build personal networks. Some 900 million people have international connections on social media, and 360 million take part in cross-border e‑commerce. (Dobbs 2016) In an increasingly digital society, personal data has become a new form of currency. The biggest challenge for political and business leaders is to establish the trust that enables that currency to keep flowing. “Digital identity“ is the sum of all digitally available information about an individual. It is becoming increasingly complete and traceable, driven by the exponential growth of available data and the big data capabilities to process it. Digital identity is relevant not just to Web 2.0 companies, but to the economy as a whole. The public sector and health care industry stand to profit most from personal data applications and are expected to realise 40% of the total organisational benefit. While the retail and Internet sectors already extensively use personal data, other sectors like traditional production and the before mentioned public services are in the infancy of digital identity value generation. (Rose, 2015)
A critical need for a system to identify and understand exposures at the legal-entity level instead of the aggregate, parent-company level has been widely acknowledged. The 2008 financial crisis made influential organizations like the Group of 20 (G20), the Financial Stability Board, and regulators keenly aware of the need for a universal system to identify legal entities. Current identification and verification processes have significant manual components and often require the use of multiple databases in which a counterparty may be identified by different names. (Stefanucci, 2017)
Since 2009, more than seven billion online identities have been stolen in data breaches (The Paypers, 2017). In 2017 alone, more than 3 billion leaked identity records have been identified and verified, which represents an increase of more than 64 percent over 2016. The 3 billion records were curated from more than 8.7 billion raw records stemming from nearly 3,000 unique data breaches discovered. (4iQ, 2018). Cybercriminals continue to target financial institutions and payments providers, and the exploitation of data breaches and stolen identities has become automated, global, and coordinated. Security experts have defined data breaches as security incidents that lead to the unintentional release of secure or private/confidential information to an untrusted environment. Data breaches may involve personal health information (PHI), personally identifiable information (PII), trade secrets, or intellectual property. The most common concept of a data breach is an attacker hacking into a corporate network to steal sensitive data. According to the Internet Security Threat Report from Symantec, almost 40% of information lost in data breaches in 2016 was Personal Financial Information, which can include credit or debit card details or banking financial records. This figure increased by more than 6 % from 2015. (The Paypers, 2017).
How digital identity develops is an important concern for consumers and companies alike. Individuals are worried about losing both their privacy and control over their personal data. Companies, on the other hand, fear that missteps — be it through their own, or third-party applications — could compromise their position as trusted provider. Consumer concern has grown along with the increased use of personal data. 88% of people who are online consider at least one industry a threat to their privacy. Yet consumer research conducted shows that stated concerns by individuals do not necessarily result in behavioural change. Most consumers have little idea what happens to their data. Only 30% have a relatively comprehensive understanding of which sectors are collecting and using their information. Individuals with higher-than-average awareness of data uses require 26% more benefit in return for sharing their data. Few individuals are in control of their digital identity. Just 10% of respondents had ever done six or more out of eight common privacy-protecting activities (e.g., private browsing, disabling cookies, opt-in/out). However, consumers who are able to manage and protect their privacy are up to 52% more willing to share information than those who aren‘t — presumably because they can adapt their data sharing to their individual preferences.
Zebi traction in the real world
Big data is growing fast, but the clear security risks have not yet been solved. Zebi offers a solution to safely manage the ever-growing flow of big data and identity related data in particular. By providing corporations and governments with the possibility to store their valuable data on Zebi Chain™ (live in production today) data can be kept safe from breach or corruption. Meanwhile the Zebi Data Gateway™ makes it possible to interconnect all data, individuals, data providers, and data requestors in an efficient manner respectful of individual consent. Zebi brings the real world blockchain solution to big data management, these are the current solutions in use today:
Real life blockchain 1: Zebi Chain™ for land registry
Zebi has a multi-year contract signed with the state of Andhra Pradesh in India. So far Zebi has put more than fifty thousand land records on the Zebi Chain™. And will reach a few hundreds of thousands during current expansion. Amaravati, the facto state capital of Andhra Pradesh is the first large scale land records operation registered on Zebi Chain™.
Land ownership in India is presumptive, and currently land records are poorly maintained; they do not reflect the on ground position. Often land records consist of various types of information (property maps, sale deeds) and are maintained across different departments at the district or village level. These departments work in silos, and the data across departments is not updated properly. Hence, discrepancies are often noted in land records. Poor land records also affect future property transactions. It becomes difficult and cumbersome to access land records when data is spread across departments and has not been updated. One has to go back several years of documents, including manual records, to find any ownership claims on a piece of property. Such a process is inefficient and causes time delays. Policy responses have addressed modernisation and digitisation of land records. In order to improve the quality of land records, and make them more accessible, the central government implemented the National Land Records Modernization Programme (now Digital India Land Records Modernization Programme). It seeks to achieve complete computerisation of the property registration process and digitisation of all land records. (Mishra & Suhag, 2017)
This is where Zebi brings it’s blockchain solution to solve India’s land registry issues. Ready to manage hundreds of millions of land registries in urgent need of modernizing in India.
Real life blockchain 2: Zebi AI Chain™ for the hospitality industry
Zebi AI chain™ for the hospitality is an enterprise level solution. So far Zebi has registered over 650 hotels in the Vishakhapatnam and Tirupati area in India on Zebi AI Chain™. Over half a million guests have been registered on the Zebi AI Chain™ till date. Zebi VMS is a blockchain based Artificial Intelligence(AI) solution for the hospitality Industry. The Blockchain-based AI solution makes check-ins very easy, while helping hotels to keep their data safe and making it easy for them to conform to data-sharing rules set by law-enforcing agencies (police).
The total amount of hotels listed in India alone are over 40.000 (Booking.com). These hotels hosted over 10 million foreign tourists in 2017, The Government of India has set a target of 20 million foreign tourist arrivals (FTAs) by 2020. Domestic travel is even much larger, with domestic Tourist Visits to all States/UTs totalling 1432 Million, with an annual Growth Rate 11.6%. (IBEF, 2018) With a growing demand for efficient and safe identification methods for hospitality guests, and vast market in India alone, there is a lot of potential growth for Zebi’s Hospitality AI Chain technology.
Real life blockchain: Zebi Edu Chain™ for education records
For educational records Zebi has started with registering records in collaboration with the Telangana government and Rajiv Gandhi University of Knowledge Technologies (IIIT Basara). Safely storaging certificates on the Zebi blockchain. The collaboration started recently. There are about 41 thousand schools functioning under various managements in the Telangana state, with a total of 6.2 million students (Gov. Telangana, 2017). India’s education sector is one of the biggest ones worldwide. At 315 million, India has the most students in world. (Varma, 2014) Tamper proof degree certificates have been on top of the list for India’s central government. There is a lot of potential in this market for Zebi.
The future perspective
As the adoption of current Zebi Data solutions in land registry, hospitality, and education continues to expand Zebi is also actively developing solutions for new fields of operation such as a logistics pilot (with 3rd party logistics provider in SEAsia) and development on a credit data solution (wealth management company in Hyderabad). As development of new fields of operation and increase of adoption of Zebi Data’s solutions continues the Zebi Data Gateway™ becomes more and more valuable as it interconnects all data in a valuable ecosystem for data exchange.
Zebi Data India Pvt. Ltd.
Zebi is founded, mentored and managed by Stanford, MIT, Oxford and IIT veterans and thought leaders from Silicon Valley with experience in Google, Uber, Amazon, Microsoft, and Oracle. Current team is 40 members strong, with 25 developers. All fulltime committed to Zebi. Zebi’s team is expanding rapidly and projected to reach 900 employees by 2022, at which time it’s also expected to break even as a blockchain enterprise.
Zebi has working blockchain technology in use today: Zebi Chain is live in private mainnet and Zebi Data Gateway connects al data and brings easy access for data interactions.
— Zebi Chain™ is a proprietary light weight satellite application installed at various Data Providers’ premises to provide immutability using Blockchain based ledger. The number of nodes in the private Blockchain is configurable and integrates with Ethereum public Blockchain for 100% tamperproof protection.
— Zebi Data Gateway connects Zebi Chain™ installations and on-board individuals and data requestors with a simple registration process. It can facilitate instant data exchange through DaaS APIs by connecting to Zebi Chain™ instances and taking individual consent wherever appropriate.
Zebi is setting up to bring it’s mainnet public in 2019. This makes Zebi 100% independent in maintaining its decentralized immutability. Direct token conversion at use through Zebipay (in development) will make use of Zebi’s token more accessible. Smart contract and Dapp functionalities expand the possibilities within the Zebi Data ecosystem even more.
Zebi has over 15 valuable advisors and two MOUs signed with Indian state governments (Andhra Pradesh and Telangana). It is actively invested in and mentored by Torque capital and Jump investors. Zebi also cooperates with capable technology partners:
This alliance brings together complementary strengths by adding a reputation layer from DREP’s reputation management system to Zebi AI Chain’s Identity layer.
· Matic (matic.network)
Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based side chains. Zebi and Matic have an R&D collaboration in solving the scalability issue of blockchain.
· ZAGG Network
ZAGG Network is an Infrastructure Protocol for GBRL (Gift Cards, Benefits, Rewards, Loyalty Industry).
· Enterprise Ethereum Alliance
The Enterprise Ethereum Alliance (EEA) is the industry’s first global standards organization to deliver an open, standards-based architecture and specification to accelerate the adoption of Enterprise Ethereum.
Website & whitepaper
Social media channels
· Telegram — https://t.me/Zebidata
· Reddit — http://new.reddit.com/r/Zebidataindia/
· Twitter — https://twitter.com/zebidataindia
· Facebook — https://www.facebook.com/ZebidataIndia/
· Instagram — https://www.instagram.com/zebi.data/
· Youtube — https://www.youtube.com/channel/UCrEFyjIGGznac_8nj9uhu2Q
· Medium — https://medium.com/@Zebidata
Ma, B. (2017). Data Capital — Global Big Data and AI Primer (Rep.). BofA.
2018 4iQ Identity Breach Report (Rep.). (2018). Los Altos, USA: 4iQ.
Dobbs, R., Manyika, J., & Woetzel, J. (2016). DIGITAL GLOBALIZATION: THE NEW ERA OF GLOBAL FLOWS (Rep.). McKinsey Global Institute.
Stefanucci, A., Abate, F., & Doutre, T. (2017). The Legal Entity Identifier: The Value of the Unique Counterparty ID (Rep.). McKinsey & Company and GLEIF.
The Mobile Economy 2018 (Rep.). (2018). GSM Association.
Web Fraud Prevention & Online Authentication Market Guide 2017–2018 (Rep.). (2017). THE PAYPERS BV.
Rose, J., Rehse, O., & Röber, B. (2015). Value of Our Digital Identity (Rep.). Boston Consultancy Group.
IBM. (2018). Imagining Trillion Dollar Digital India (Rep.). IBM & Kalaari Capital.
Mishra, P., & Suhag, R. (2017). LAND RECORDS AND TITLES IN INDIA (Rep.). PRS.
Brand India. (n.d.). Retrieved from https://www.ibef.org/industry/tourism-hospitality-india.aspx
Varma, S. (2014, July 02). At 315 million, India has the most students in world — Times of India. Retrieved from https://timesofindia.indiatimes.com/india/At-315-million-India-has-the-most-students-in-world/articleshow/37669667.cms
DIRECTORATE OF STATISTICS AND ECONOMICS (pp. 299–305, Rep.). (2017). Government of Telangana.