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Oasis Parcel Collaborates With GCP’s Confidential VMs to Offer Best-in-Class Privacy Tech

In a recent announcement, the Oasis Labs team declared its plans to collaborate with the Google Cloud Platform (GCP). Oasis Labs will integrate GCP’s computing product, Confidential VMs, to Oasis Parcel. It will help the users of Oasis Parcel achieve scalable and secure computing environments as part of their products.

What is Confidential Computing?

Confidential computing allows you to encrypt data in use — while they are being processed. Using confidential computing technology, customers can encrypt data in use while leveraging confidential computing cloud services. The integration of this technology ensures that the customer data will stay private and encrypted even while it is in process. The technology is easy to adopt and use. All that one needs to do is select one checkbox. There is no need to make any code changes to your applications to use Confidential VMs.

The technology will also empower organizations to unlock previously unexplored computing scenarios. It will enable them to collaborate on research in the cloud across geographies and competitors — all while preserving confidentiality. The technology also helps to detect advanced persistent attacks without the user having to compromise on performance.

What is Oasis Parcel?

The Oasis Network is a privacy-enabled blockchain platform. It facilitates open finance and encourages a responsible data economy. Oasis Parcel, its new product, helps businesses make privacy and security a flagship feature of their offering. It allows its client’s users to own the data they share with your client’s application. While it increases customer trust, it reduces your customer’s regulatory and custodial risks. Parcel’s companion user interface, Oasis Steward, helps customers see what all of their data businesses have access to and how the companies are consuming those data.

How Collaboration Helps Oasis Parcel?

Many businesses have started using Oasis Parcel to bring enhanced control and privacy features to their products. These businesses are leveraging Parcel’s robust data governance features to offer tighter data control to their customers. The inclusion of Confidential VMs of GCP will ensure that the user-data remains confidential and protected at every step of the lifecycle.

Overall, the Oasis protocol has been making steady progress in becoming more and useful to its clients. Its consistent progress reflects through the performance of its native coin ROSE. On January 1st, 2020, Rose was trading for 0.043 USD, with a total market capitalization of nearly 66 million US dollars. On January 18th the price of ROSE registered a record high of 0.14 USD with its market capitalization crossing 214 million USD.

With its wings spread across the market, more and more companies are choosing to use its products and services. The Oasis Parcel, in particular, has gained a reputation in a very short time. Companies like Nebula Genomics, a direct-to-consumer genetic testing company, have deployed Parcel and GCP’s Confidential VMs to retrieve genomic data from its users. They are also using the Parcel-Confidential VM combo to run analysis on these retrieved data and send individualized genetic reports based on credible scientific studies.

The adoption of Oasis Parcel by Nebula Genomics is of particular significance in understanding the credibility of the product and its recent collaboration. Nebula Genomics uses an individual’s genomic data. It is a particularly sensitive type of information, and Nebula commits strong privacy guarantees around this data.

The deployment of the Oasis Parcel-Confidential VM combo allows Nebula to encrypt large amounts of genomic data while they are still being analyzed.

Oasis Parcel: Road Ahead With Confidential VM

Since its inception, Oasis Parcel has attempted to leverage basic primitives to strengthen the principles of responsible data usage and governance. While datasets in Oasis Parcel, by default, require an owner to set detailed policies and constraints, they can be easily added to any development flow without having to know any custom language or complex system. It comes with a built-in dispatcher and is easy to spin up an isolated environment for privacy-preserving computation.

Oasis Parcel enjoys the added benefits of Oasis Network that helps clients achieve an immutable, tamper-proof record of all actions taken against a dataset.

With these existing benefits of Oasis Parcel came the Confidential VMs of GCP. With its integration, Oasis Parcel will be able to address a diverse range of issues and solutions. It will be better equipped to cater to both ends of the development spectrum: the developers and the businesses.

The partnership will bring the best in data privacy technology to companies who essentially deal with sensitive information in large volumes. It will also help encourage and expand support for innovative applications that are computing and memory-intensive, such as ML training.

Overall, the road ahead for Oasis Parcel, after it collaborates with Confidential VMs, looks full of utility and value along with a wide scope of future innovation.

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