Ruby Protocol — Privacy, A Conceptual Shift First
In this article, we aim to get you on the same page and help you understand the premise upon which we are building our belief system and this project.
A conceptual shift
We thought it was necessary to begin this article with an attempt to shift your conception — one that we know is difficult for the sturdy materialistic modern people that we are.
The first question: what is the current modern world made of? To answer this, we must reconsider reality — the world itself — as it is fully experienced by someone alive and awake. With all the richness, this is the world that manifests itself to our unique individual minds that you meet consciously.
We want to argue that, when waking up, the furniture, your cellphone, and other possessions in your bedroom are not indeed what you perceive when you first open your eyes. Granted that you are already familiar with this place and its possessions. We can all agree there is not much utility in keeping effortfully apprehending what you already understand and know.
Instead, with a change of perspective, we believe what you see upon waking is an array of possibilities, many concerning the day at hand and others associated with upcoming weeks, months, and years to come.
In essence, we are genuinely concerned with the answer to one question:
“What should I make of the possibilities that I see or don’t see in front of me, and how do I deal with the next complex second that is bound to replace the current, whatever that may be.”
When the present is the fuse of the past and the future, this question becomes very real.
And that is the conceptual shift that leads us to the prerequisite upon which we build our belief system and Ruby Protocol. If out there, in the unknown — in the future, which we all contend with, perhaps it is best considered the structure of reality.
Data in some way predicts the time ahead
Data is the new oil or the new blood that runs through the veins of our societies. It is one of the most critical resources fueling our advance as a whole.
Every day we create 2.5 quintillion bytes of data. 90% of the data in the world today has been made in the past few years alone — and with new devices, sensors, and technologies emerging, the data growth rate will likely accelerate even more. All this data would have tremendous value for many parties.
Many information and data technologies use historical data to predict future events. Typically, historical data is used and analyzed to build a mathematical model that indicates important trends. That predictive model is then used on current data to predict what will happen next or suggest actions for optimal outcomes.
Only in health care studies show that most healthcare executives (89%) belong to organizations that are either now using predictive analytics, or planning to do so within the next five years. An impressive (93%) percent of healthcare executives stated that predictive analytics is vital to their business’s future.
And with the advent of machine learning, this trend shows no sign of slowing down.
But we are not in control of it, not even our own data
The existing internet economic model relies almost exclusively on the monetization of personal data.
The recent scandals involving internet companies mishandling individual data, such as the most infamous Facebook Cambridge Analytica Scandal, have prompted many individuals to wake up to the fact that they are only the product of the current internet economy. Yes, you heard that right.
With this awareness, many individuals today feel the need to regain control over their data. We might argue that the recently published privacy regulations, such as GDPR or CCPA, are actually in response to this necessity.
Is the reality you are experiencing still a reality?
There is little doubt that we live in an age of Big Data. You get to leave your house without carrying your keys and wallets and not sweat, precisely because the tremendous amount of data you have been generating already has enough of you that makes you significantly integrated into this virtual world.
While earlier paradigm shifts were powered by steam engines, carbon products, electrical power, semiconductors, computers, and the Internet, we are currently experiencing a boom driven by Big Data. We now have on our hands and will still keep generating tremendous amounts of data that can be used for future insights, whatever these insights might be.
However, in this age of Big Data, corporations, organizations, conglomerates, and those who possess enough social resources can extract value from their data assets faster through advanced analytics such as machine learning. They will become winners, and others will be left behind.
So the question is, how do you want to manage your data? And in what way are you comfortable with other people handling your data that helps them predict your future?
And finally, if you are not in control of it, is the reality you are experiencing still a reality?
With people gradually crossing the bridge from Web2 (the current internet) to Web3. We want to get this right for you. The first time. Yes, you, the person that doesn’t get any of the profit shares when their own data is shopped around. We are here to provide you with a solution.
We present to you Ruby Protocol — The Decentralized Privacy-Centric Protocol for Web3.
Learn more on how we made privacy possible for all. Ruby Protocol — Web3 Privacy-Centric Infrastructure
See you in the next Medium post.
Reference:
- https://en.wikipedia.org/wiki/Beyond_Order#:~:text=Beyond%20Order%3A%2012%20More%20Rules%20for%20Life%20is%20a%20self,released%20on%202%20March%202021.
- https://www.mathworks.com/discovery/predictive-analytics.html#:~:text=Predictive%20analytics%20uses%20historical%20data,to%20take%20for%20optimal%20outcomes.
- https://www.cio.com/article/3273114/what-is-predictive-analytics-transforming-data-into-future-insights.html
- https://www.wired.com/insights/2014/03/use-data-tell-future-understanding-machine-learning/
- https://en.wikipedia.org/wiki/Predictive_analytics
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.
