A Deep Dive on Privacy
What is Privacy?
Privacy is not a privilege. It is a fundamental human right. There are likely a million definitions, but the fundamentals do not change. No matter how persuasive opposing arguments are, everyone has a right to privacy. The concept is an essential foundation upon which many other rights are built.
Why is Privacy important?
Privacy is a limit on the power of third parties to collect and control our data. Trust, freedom of thought and speech, individual ownership and control are all heavily tied to preserving privacy and establishing informational boundaries within society that need to be respected.
“Privacy is not secrecy… Privacy is the power to selectively reveal oneself to the world.”
Understanding Ruby Protocol and Privacy-as-a-Service (PaaS).
Data plays a huge role in our online lives. Many of us enter our personal information online multiple times a day, despite countless data breaches over the past decade involving Facebook, LinkedIn, Alibaba, Yahoo, and others. Tracking and selling online data is another side to the privacy debate. According to Pew Research, a majority of Americans believe their online and offline activities are being tracked and monitored by both companies and their government with some regularity. Around half (52%) of U.S. adults said they decided not to use a product or service because they were worried about how much personal information would be collected.
People are beginning to realize the gravity of proper data ownership and privacy, and Web3 has made it possible — through the use of cryptography — for a new wave of privacy-preserving dApps and protocols to emerge.
Ruby is one of the newest privacy protocols to be developed, taking a bilateral approach through the use of cryptography as the foundation of its platform. The core cryptographic technology Ruby uses is attribute-based Functional Encryption (FE), which is specifically designed for granular access control policies. It will allow users to pick and choose what data they want to share publicly or privately, depending on the use case. In the future, decentralized application users will have full ownership and control over their data in decentralized environments.
Ruby’s FE Substrate-pallet will serve as the building blocks for privacy-first smart contract dApps building on the native Ruby platform, while also acting as privacy infrastructure for Parachains and Web3 dApps across the Polkadot ecosystem.
About Us
Ruby Protocol is a cross-chain, privacy-first infrastructure, powered by Polkadot. Our layer-1 protocol utilizes Functional Encryption (FE) cryptography, which allows users to adopt a modular approach to data privacy and ownership. This novel solution will allow users to encrypt sensitive information on-chain, which can only be decrypted by holders of an approved private key.
Ruby’s FE Substrate-pallet will serve as the building blocks for privacy-first smart contract DApps building on the native Ruby Chain, while also acting as a privacy layer for Parachains and Web3 DApps across the Polkadot ecosystem.
