Ruby Protocol — #Privacy Is Timeless & Trend Agnostic
As we approach 2023, anyone serious about developing Web3 will likely be actively searching for or automatically bombarded by research papers and reports claiming to have the next silver bullet in the upcoming market cycle.
Granted, these Web3 reports/trend analyses provide valuable insights into our industry’s current and future state. Still, to the actual builders in this space, they are only better at compiling data than creating real insights. There is nothing wrong with reading and understanding the market size pie chart, growth trends analysis, product landscape, key players, and their strategies. They are necessary for making well-informed decisions.
However, keep in mind that trends can be dangerous and fleeting. Building something over trends is nothing different from standing over quicksand, which usually means a waste of resources and talents. In the worst-case scenario, it means crashing the market, losing market share, and setting an industry back many years.
Following trends blindly is risky as it creates a lack of differentiation and originality. A company that heavily invests in one direction can quickly become irrelevant. More importantly, it can seriously undermine a team’s vision and subsidize decision-making that is not aligned with long-term goals and objectives.
An honest Web3 builder must keep reminding himself of what is timeless and trend agnostic.
And privacy is, in crypto and web3.
Ruby Protocol — Disciple of Privacy
Zero-knowledge (ZK) cryptography is one of the technologies that will most likely change the Web3 paradigm. ZK has long been regarded as a game-changer in ensuring blockchain applications’ privacy, security, and integrity. Furthermore, ZK Layer2 is widely viewed as the next step in Ethereum scaling. It enables off-chain transactions secured by cryptographic proof, allowing faster transaction speeds and lower transaction costs than on-chain transactions.
Ruby protocol aims to create a private data management framework for Web 3.0 by utilizing Zkp Cryptographic Infrastructure.
We propose and build a privacy middle layer that interacts with multiple chains. It is a fine-grained private data access-control gateway that connects various entities and organizations in both the decentralized and traditional financial worlds.
Built on functional encryption, a cutting-edge cryptographic solution that allows users to encrypt sensitive information on-chain, Ruby protocol will be the true embodiment of the cryptocurrency movement’s decentralization spirit.
Ruby Connect — A Privacy Experiment
Ruby Connect (Ruby Protocol’s Proof of Concept) is a privacy experiment designed as a Layer 2 application to address the crypto space’s most fundamental need: to enforce value transfer with privacy and to enable cross-chain privacy-preserving access control while protecting your assets and on-chain data.
📚 Check our 👉 Project Wiki for more details.
💻 Or experience 👉 Ruby Connect now.
Users can use Ruby Connect to enforce access control and privacy across multiple blockchains. Furthermore, with experience developing products on Ethereum using zero-knowledge algorithms and zkSNARK techniques, our team is confident in developing cutting-edge privacy solutions and accommodating additional needs in future iterations.
To achieve mass adoption of Web3 and crypto, we believe the next ambitious step is to create a super secure, crypto-native, and user-friendly entry point for everyday users.
Account Abstraction Wallet seems like an excellent place to start. We believe Account Abstraction has the potential to make user accounts more programmable and adaptable to their needs, making it the most likely next way for users to manage their self-custody.
#Privacy is Timeless & Trend Agnostic
In general, privacy is considered timeless because the fundamental right to privacy is universal. It is inherent and essential to human dignity and is not affected by time, geography, technology, or crypto cycles.
It’s a universal concept that cuts across cultures, societies, and epochs. The need for privacy and the protection of personal information remains constant as technology advances and society evolves.
There are contradictory concepts in crypto and Web3, such as the promise of returning data ownership to the people while maintaining complete transparency over blockchain transactions.
#Privacy is the Key to Striking a Balance.
In reality, privacy and ownership are inextricably linked. Privacy protection is dependent on the recognition and enforcement of property rights and vice versa.
Any attempt to break the link between privacy and ownership will result in a incohesive and ineffective legal and empirical system in which individuals and organizations are disoriented and in dire need of a consistent narrative to control their personal information and property.
Ownership of property, such as real estate or personal belongings, depends on protecting privacy.
For example, an owner of a property has the right to exclude others from accessing their property and to use it as they see fit. However, this right is only meaningful if the owner’s privacy is protected. If others can freely access the property without the owner’s consent, the owner’s ownership rights are rendered meaningless.
Within the context of personal data, individuals have a right to privacy in their personal information, largely dependent on the recognition of ownership over this information. In other words, individuals must have control over their data to be able to keep it private. If ownership is not recognized, individuals may be powerless to prevent their personal information from being used or disclosed without their consent.
The relationship between privacy and ownership is not one of separation but of interdependence.
For us at Ruby Protocol, recognizing and enforcing privacy should be the premise for any legal system that values individual autonomy and property rights.
About Us
Ruby Protocol is a private data management framework for Web 3.0 that proposes and implements a privacy layer interacting with the multi-chain ecosystem. It is a fine-grained private data access-control gateway across different entities and organizations in the decentralized and traditional financial world.
