Parcel Spotlight: Auth3 Network
An in depth look at some of the projects building on Parcel.
Here at Oasis Labs, we believe in building technology that protects our privacy while still allowing us to get the full value from our data. Auth3 is a privacy-preserving computational network that uses Parcel to maintain full control over the life cycle of data. Users on the Auth3 network are able to access features such as secure storage, data management, tokenization of data and more…
Read on to learn more about their vision for the future of data!
Who are you! Tell us about yourself and your role at Auth3.
I’m Tracy — Head of Operations of Auth3 Network. I have been involved in the blockchain space since 2018 and fully focused on building Auth3 Network now.
Tell us a little bit about Auth3
Auth3 is a decentralized and trusted network built upon a privacy-preserved infrastructure to unlock and exchange data values. Auth3 aims to connect people and data around the world for Web 3.0. It helps people to discover, aggregate and exchange authenticated data. Also, Auth3 encapsulates data usage rights into data tokens by leveraging blockchain and DeFi tools, which notably helps to release the value of data.
Why is privacy and data sovereignty important for your product?
The ultimate goal of Auth3 is to unleash the value of data, help people discover, aggregate and equitably exchange their authentic data assets. For example, the users’ labels and portraits are essential for industries including advertising, insurance, medical and AI. However, due to privacy issues and lack of rational ways for data usage, the values are dramatically constrained and distributed inequitably. Auth3 aims to enable everyone to own the data, control the data and be entitled to sell the right of data usage without disclosing the privacy and get paid for that.
How did you find out about Oasis Labs?
We’ve been getting along with Oasis Labs for a long time. Dawn is one of our most respected professors. Oasis’s contribution on privacy-enhanced layer-1 blockchain inspired us to chase more possibilities in the new epoch of Web 3. Fortunately, our work has been affirmed by Oasis and received substantive support.
What made Parcel a good fit for you? / How do you use Parcel?
Auth3 will provide a comprehensive protection of data privacy and security covering the full life cycle of data usage. Specifically, Parcel implements a solid privacy- enhanced infrastructure which can complement Auth3 network in terms of secure storage, execution, access control and tokenization parts. With the support of Parcel, our system will provide rich functionalities include:
- Allowing data providers to conduct data collection, storage and management, as well as to add their datasets to a data project for exchange.
- Verifying the authenticity and data attributes of datasets and maintaining data privacy while computation.
- Allowing data operators to mint data tokens.
- More data privacy and circulation related behaviors.
Which Parcel feature is most exciting to you?
When integrating with Parcel, we delightedly found it’s really convenient to develop our privacy-preserved logics by using Parcel’s computation and storage services. Additionally, the performance and engineering degree are both at a very high level. It provides a solid backup for us in terms of the infrastructure.
What do you love most about your industry?
Data is the oil of the new epoch, it has become indispensable as a new factor of production in modern business activities. Nowadays, human beings continuously generate and contribute data in the digital space. The immense amount of data produces tremendous values by being aggregated, analyzed and excavated in all kinds of industry fields. However, the true value of data has not yet been effectively tapped. With the circulation and usage of data, leakage and abuse issues occur frequently. In another aspect, as the owner of our own data, we have never truly had the control and got the profits that we deserve.
The data industry needs a way out. That’s why we want to do something, to unleash the tremendous value of the data assets in a secure and privacy-preserved way. And we believe, it will be a trillion incremental market and will bring a true web3 era.