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JPMorgan Chase strongly supports Metaverse. Private computing solves the stubborn problem of data

On February 15, JPMorgan Chase released a report entitled “opportunities in the metaverse”, which discussed the new opportunities of enterprises in the metaverse in future, and said that in the next few years, the metaverse may penetrate into every industry in some way, and the annual revenue of the market opportunities is estimated to exceed US $1 trillion. According to GoodData, JPMorgan Chase has opened a virtual lounge on the 3D virtual reality platform “Decentraland”, making the first step into the metaverse.

As for the concept of metaverse, it is generally believed that metaverse is the integration of people’s material life and digital life. It creates a unified and virtual community where people can work, play games, shop and socialize.

Today, with the rapid development of the Internet, the elements of the new digital era are merging on a large scale, and the metaverse will be the key force to combine these elements to form a unified and immersive experience. If the metaverse is the ultimate form of the Internet, data security and privacy protection, which have always been paid much attention to, will be a critical point in the development of the metaverse.

For the Internet platform, data means resources. Marketing, operation, advertising and other fields all rely heavily on data. Therefore, personal privacy and information security have become key areas that have been repeatedly concerned by the public, enterprises and regulators in recent years. In this context, if we want to make full use of data to create human wealth, we must use technology to connect all kinds of data legally, which is the significance of privacy computing.

Privacy computing is a technology to protect data security from the data source. The platform only processes users’ information in an encrypted environment. Users hold the right to use data, so as to prevent the disclosure of personal privacy.

GoodData blockchain is a platform that uses blockchain and privacy computing to realize the safe flow of data and value monetization. GoodData uses federated learning and AI model to train and make the model represent each individual, which keeps the original data itself not to be released but can be used, so as to promote the safe sharing of data and realize the further mining of data value.

At present, GoodData applies privacy computing technology to the newly released DApp — GooD Sleep, where users can share their sleep data and receive rewards from the platform. The shared data is stored in the decentralized storage system. When the data is used later, the data contributor can get profit everytime it is contributed. Under the protection of privacy computing, data can be reused without devaluation. Therefore, as long as the shared data is reused, users can continuously obtain benefits from it.

Data is an important asset in the Internet era. How to share data safely between different individuals and enterprises is the key to increase data value. Privacy computing is the security key to unlock the value of data. GoodData believes that the development and application of privacy computing will gradually extend to all aspects of life, and the future metaverse will also be the largest application for privacy computing.

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