GDF: Pioneer in NFT + DeFi Integration, Augmenting Data Value
Data, as an asset, is one of the hottest topics today. However, the real value of data is usually unrealized due to privacy protection and data silo problems. More and more countries pay increasing attention to the development of the big data industry, and people’s awareness of big data and how it impacts their lives are also top of mind. In the process of studying data usage and value mining, GDF found that the combination of blockchain-based data NFT and DeFi market is the key to the new future of data and data monetization.
After the “519” incident, many people began to calm down from the absurd madness and think more about the practical value and application of blockchain. GDF, which has been concentrating on blockchain research and data value mining, has emerged in this period with its complete blockchain technology, strict privacy protection technology and self-developed machine learning algorithms.
Less than 1% of data collected and stored are actually used or analyzed. GDF believes that the realization of data value is an urgent problem. To boost data security and sharing, blockchain is undoubtedly the most suitable solution. In order to realize the flow of data value, GDF has put forward its unique scheme: combining tokenized data NFT with liquidity mining.
First, casting the data itself as NFT is conducive to the confirmation and transaction of data. Through secured distributed storage, data owners can store data sets on the blockchain and cast corresponding NFT for auction or sale to get rewards. During this process GDF uses differential privacy and multi-party secure computing to encrypt the original data for the data owner, and provides distributed data federation service for the data consumer. The technology not only separates the ownership and use right of data, but also avoids the problem of data devaluation caused by data content transfer or duplication. GDF’s data NFT and data privacy computing services provide convenience for enterprises, hospitals and government agencies with urgent needs for data.
However, because the users of data are often enterprises and business units, the circulation of data NFT is likely lower than that of collectible NFTs. Therefore, GDF also proposes a second scheme to improve the value and circulation of data — liquidity mining.
DeFi liquidity mining is a mode in which token holders earn income by providing liquidity for liquidity pools. If the Defi liquidity mining is applied to the data field, it will undoubtedly solve the problem of poor data NFT liquidity. GDF will deploy a series of applications on its blockchain platform GoodData to enable users to generate ERC-20 tokens, build pools and start liquidity mining on a simple operation interface. In this way, the vast community can participate in the profits of the favorite database through liquidity mining even though they have no need of data. With the increase of the flow pool, the value of data tokens also rises, and the value of corresponding data will also increase.
GDF hopes that through data NFT and liquidity mining, more people can participate in the action of data value mining, and the value of data itself can be adjusted by market demand to achieve price efficiency and prevent monopoly. The whole schema is built on the foundation of data privacy protection and federation security, thereby truly enabling the safe and accelerated growth of the big data ecosystem.