NFT3 Partners with Ruby Protocol to strengthen MetaID with Functional Encryption Capabilities
InterStellars,
As web3 evolves and enlarges, one of the key factors for the Decentralization movement is going to be partnering with different protocols that share the same ethos so we can build out a robust ecosystem of products and use-cases that can actually shake the status quo. Today we take a step in that direction.
NFT3 are proud to announce a partnership with Ruby Protocol
Ruby Protocol is a Decentralized Privacy-Centric Protocol for Web3. It focuses on building a private data management framework for web3 that proposes and implements a privacy layer interacting with the multi-chain ecosystem.
NFT3 is building a unified virtual identity layer that will become the new home of user data, so to speak. Think of Ruby as the faucet that then allows the user control over the flow of that data via Functional Encryption.
⚡️Easy Analogy:
🛸NFT3 ~ where your data sits (sovereign self-owned database)
♦️Ruby Protocol ~ how your data flows (granular control)
Ruby Protocol and NFT3 are, in essence, working on different pieces of the same puzzle with the aim being to replace the obsolete centralized systems of data management with a decentralized model.
NFT3s will become a direct monetization path for individuals to associate value on their terms with various aspects of their data journeys through life with different projects, individuals, social networks, companies, and institutions.
Ruby Protocol wants to offer a private data access-control gateway across different entities and organizations in the decentralized and traditional financial world.
We believe this partnership is natural as these are projects with the same ethos: that user data belongs to the user — and so does control over it.
We envision that as this philosophy becomes widespread, decentralized identities and private data management will enable people to:
- Fully own and control their data
- Choose who to share information with and how to present the data
- Prevent the spread of their data without their knowledge
NFT3 Founder and Lead Initiator Dylan Dewdney says on the partnership, “We need some sort of common referent or hub, some nexus for the individual, and this must be a conception around identity.”
This is the piece that NFT3 focuses on, while the flow of that data is where Ruby will come in.
We’re proud and excited to see the web3 DeData future come into shape, bit by bit. Here’s to building together!
About NFT3
NFT3 is the First Unified Decentralized Identity and Credit Network for Web3 and Your Portal to the Metaverse.
NFT3s will become a direct monetization path for individuals to associate value on their terms with various aspects of their data journeys through life with different projects, individuals, social networks, companies, and institutions.
