Conflux Network and Oasis Foundation to Enable Private Data Ownership for Participants
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The Oasis Protocol Foundation and Conflux Network partner to bring Oasis’ innovative privacy-preserving technology to the Conflux Network. This is a major step in enhancing the security of applications built on Conflux, implementing more efficient KYC methods, and enabling new market participation with more secure marketplaces.
The transparent nature of public, permissionless blockchain networks is vital to ensuring trust. While this is a powerful tool for accountability, there are certain types of personal information that must remain private. The Oasis Network enables the separation of public and private data: the result is a user-controlled web where users control permissions for their private data, and allows applications to access that data in a secure environment: the key part is that private data stays private even when shared, creating the dynamics for a better collaboration between companies and users.
“The Oasis Network combines private data access and blockchain technology to create better ways to share and manage personal information on the internet. We see the partnership of our two technologies as a path to securing existing marketplaces with better KYC methods, unlocking new markets like personal data economies, and growing the Web3 space through cross-chain collaboration.”
— Eden Dhaliwal, Managing Director Conflux Network
By partnering with the Oasis Foundation, we are integrating the high-speed performance of Conflux Network applications with the Oasis Network’s privacy technology, and unlocking the ability for users to control and manage their data.
“The way websites manage personal information of their users needs to improve to create not only a more secure environment but also more collaborative relationships amongst the stakeholders of a certain service. We are excited to join forces with Conflux to make this vision real”
— Luca Cosentino, DeFi Product Lead at Oasis Network
About the Oasis Foundation
Designed for the next generation of blockchain, the Oasis Network is the first privacy-enabled blockchain platform for open finance and a responsible data economy. Combined with its high throughput and secure architecture, the Oasis Network is able to power private, scalable DeFi, revolutionizing Open Finance and expanding it beyond traders and early adopters to a mass market. Its unique privacy features can not only redefine DeFi, but also create a new type of digital asset called Tokenized Data that can enable users to take control of the data they generate and earn rewards for staking it with applications — creating the first ever responsible data economy.
About Conflux Network
The only state endorsed public, permissionless blockchain project in China, Conflux Network is an open-source, layer-1 blockchain protocol delivering heightened scalability, security, and extensibility for the next generation of open commerce, decentralized applications, financial services, and Web 3.0. Conflux Network is overseen by a global team of world-class engineers and innovative computer scientists, led by Turing Award recipient Dr. Andrew Yao. Fostering entrepreneurship and innovation, Conflux elevates startups and organizations across industries and continents to generate decentralized marketplaces and digital assets for meaningful business and social impact. Founded in 2018, Conflux has raised $35 million in capital from prominent investors including Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission.
