Ruby Protocol Monthly Review — June 2023
In June, as the U.S. Securities and Exchange Commission (SEC) sued the leading companies in the crypto market and their founders, the people building in this space once again fell into deep doubt and struggled to come out of the existential crisis that ensued.
However, the stoic may thrive on this news since they understand that Web3 and the crypto movement are largely built around noncompliance and taking back ownership. To them, this kind of pushback is expected, and the current drop in cryptocurrency prices, market share, and confidence only presents an investment and building opportunity.
The media likes to dub the actions of the SEC and the U.S. government as the Choke Point 2.0 because protecting the status quo is the only plausible explanation for why the SEC is against Congress clearing things up via legislation.
Gensler once said “blockchain technology” had “real potential to transform the world of finance.” He even added that “It could lower costs, risks, and economic rents in the financial system.”
The technology hasn’t changed in that time, but Gensler has. It’s only fair to ask whose interests he is protecting.
Ecosystem & Partnership Building
June 2023 was a huge springboard month for Ruby Protocol in terms of expanding our partner space.
We believe this is a significant step for us if we want to reach the next millions of users. The strategic partnerships we have been presenting are all official agreements between other parties and us to work together to provide the best-in-class services for crypto users and the entrants from the old web2 world.
Strategic Partnership With Web3Port
Web3Port is a BUIDL tool for Web 3 professionals. Their mission is to promote the growth of Web3 communities by breaking the barriers between entrepreneurs, investors, and contributors and forming a fair and open Web3 builder network.
As a privacy-centric access control protocol for Web3, Ruby Protocol is on a mission to build an interoperable, scalable, and privacy-preserving infrastructure as the ultimate gateway to Web3. To achieve what we envision, help is certainly needed, which is why we are thrilled to partner with Web3Port, a large and diverse ecosystem that is necessary for the health of the next-generation privacy protocol.
Strategic Partnership With Chaterium Network
Although AI and privacy protocols do not usually go hand in hand in terms of handling sensitive identity data, the use of Chaterium Network’s technology is strictly focused on our community front, which will help us leverage the power of AI to engage with our communities.
We believe this partnership is an excellent opportunity to expand our audience and reach new users who are eager to protect our fundamental rights and use advanced technology to do so. With Chaterium Network, we are confident that we can create an engaged community where users can communicate, learn, and share experiences using innovative solutions.
Strategic Partnership With Magic Square
After more than 6215 votes, Ruby Connect is now finally validated and enjoys a User Score of 4.49.
In the future, we plan to list more of Ruby Protocol’s privacy solutions to Magic Square and have them voted on and battle-tested by the community.
This partnership is very significant to us in terms of pushing privacy awareness and privacy solutions to the broader communities. Leveraging this, we believe we could shine more light on our mission and philosophies and make Ruby Protocol more accessible to everyday users so cryptographically protected privacy can be achieved with just a few clicks.
Strategic Partnership With Carbon Browser
Carbon Browser is a privacy-focused browser that protects users from data collection and tracking and encrypts the sent and received data. The browser also offers users a unique combination of DApps, custom bookmarks, faster speeds, rewards, privacy, ad blocking, and more!
The most thrilling part of this partnership is Carbon Browser has over 6 million downloads on Android devices worldwide, with a rapidly growing user base of over 50,000 daily active users, making them one of the most used crypto browsers and aggregators in the crypto community.
Ruby Protocol establishing a partnership with them will likely see us integrated into their ecosystem, ultimately making our access control, account abstraction, and privacy solutions accessible to millions of people.
Behind The Scene & Future Outlook
Although June seemed like a very busy month on the surface, we are still having a ton of developments going on behind the curtain.
Behind the scenes were our efforts to continue building new products and services that would allow you and new users a new level of control and customization in managing data and crypto assets, including MPC technology, Contract Account creation, Social recovery techniques, Web2 Login, dApps Bridge, and Account Abstraction.
In June, we worked hard on the following assignments, which are all scheduled to be released in the coming month. Please stay tuned.
- New Product & Features Development
- Official Launch Campaign
- Product Wiki and User Guide
- Reward & Airdrop Campaign
- Bug Bounty Program
- Mainnet Launch on multi-chain
- Reward Program
- Referral Campaign
We believe the above community initiatives and reward campaigns will help us deliver a new and complete product with a better user experience so more people can understand and know how to practice privacy, access-control, and eventually use crypto.
Stay tuned. It is coming!!
About Us
Ruby Protocol is a programmable privacy & access control middleware framework encrypted with zero-knowledge proofs (zkp) algorithms.
Driven by abstract accounts, it builds an access control gateway across different entities and organizations in DeFi and Web3. The solutions and products include all kinds of private tokenization (zkToken, zkNFT, zkDID, etc), private payment bridge (zkConnect), authentication (zkAuth) and account/sub- account system (zkWallet), etc.
