iExec V3: Data Wallet for Enterprises to Rent Data and AI Models Using Blockchain

Blair Maclennan
May 15, 2019 · 3 min read
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Blockchain Makes Data Renting Possible

The main innovation of iExec V3 is the Data Wallet, allowing for new business models through ‘data renting’. Data providers can list their valuable datasets or AI models, and through iExec, these can be used with an application combined with remote computing power. The providers of the datasets, applications, and computing power are all rewarded through the decentralized iExec Marketplace.

The iExec Marketplace Gets Faster and More Secure

iExec V3 introduces a range of new technical features. The distributed computing middleware has been upgraded. Now named ‘iExec Core’, it allows for individuals to join public ‘worker pools’ and become computing power providers. In addition to the Data Wallet, iExec V3 also integrates the iExec Trusted Execution Environment solution (TEE). This ensures the protection of data running on remote and untrusted machines. Also as part of V3, the overall efficiency of the iExec Marketplace has been increased through a dedicated bridge that is compatible with sidechains, and decentralized brokering. Finally, iExec V3 allows for the creation of decentralized oracles to give blockchain applications access to real-world data.

iExec for Enterprise

iExec V3 will introduce ‘iExec Enterprise’, proposing custom offers for corporates to address their specific needs. This will involve paid support and consulting services with the option to adapt the iExec offering to private or consortium blockchains. Enterprises can benefit from selecting which partners or clients have access to specific resources. In this context, iExec announced its work with EDF, one of the worlds largest elecricity providers, to optimize its cloud computing infrastructure. By combining distributed computing, blockchain consensus, and trusted execution environments, iExec can address the needs of enterprises and consortiums to do business with blockchain.

Watch the iExec V3 release video, broadcast live on May 15


iExec

Blockchain-based Decentralized Cloud

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