Oasis Network: The Journey So Far.
Data plays an important role in our daily existence, and companies in different parts of the world are scrambling for data, because the success of their operations is dependent on the access to data. In the quest for getting access to user data, one major issue that has popped up is “private data vulnerability”, and over time we have noticed how some big social media platforms have been accused of harvesting the private data of users for profits, and without the express permission of the users. The Oasis Network was created to bring solutions to private data vulnerability, and since inception, the platform has made considerable progress in curbing the theft of private data, and that has been achieved through the implementation of different security components.
Some important solutions that the Oasis Network brings to private data include versatility, scalability, confidential computing, and privacy priority among other solutions. Interestingly, the previous year was an amazing one for the Oasis Foundation, because the company had some notable accomplishments, and they include the following:
- Some notable companies used the Oasis platform for different projects, and they include the BMW Group, and several other companies from different industries and sectors.
- Electric Capital also had some nice things to say about the Oasis Network in its annual end-of-year report. The report cited the Oasis Network as being a rapidly progressing network.
- As part of their plans to increase their effectiveness and efficiency within the crypto community, the Oasis Foundation went into strategic partnerships with various decentralized finance (DeFi) projects, and paved the way for privacy-centric decentralized finance apps to the network.
- Another notable achievement of the Oasis Network was the successful testnet test period that was incentivized before the Oasis Network became operational. Interestingly, the process was seamless and there were more than 1.1 million signed blocks within the few seconds it took the platform to upgrade.
- The Oasis Network has a strong community that was really supportive in 2020, and projects like the Oasis ROSE Garden contributed immensely to the community’s growth, and through the program more than 6,700 new wallet owners joined the network. We cannot also forget the “Community Cup” program that rewarded winners from the community with more than 146,000 tokens.
2020 was eventful for the Oasis Network, and the company achieved a lot both before and after the launch of the platform, especially as the company was making plans for the future of the network. The network is set to achieve more in 2021, and scale to better heights. At the moment, the company has gotten into more partnerships with some revolutionary companies, and thus has proven the versatility of data privacy and security across different sectors and industries. Furthermore, the network intends to introduce data tokenization, and thus pave the way for new use cases in decentralized finance that will be dependent on real world data, and sensitive data.
One way for a startup to experience unprecedented growth in a competitive environment is by getting involved with other companies that may have some value to offer the startup, through strategic positioning. This is one of the strategies that the Oasis Foundation is employing in 2021, and at the moment has gone into partnerships with the following companies:
- Nsure Network
It is amazing to see traditional systems evolve and join the crypto trend as they move to become better system. Perhaps some years ago, no one envisioned there would be a day when insurance protocols would become decentralized. This is what the Nsure Network is about, and with its partnership with the Oasis Foundation, the insurance protocol will get access to the privacy features of the Oasis Network. One of the major advantages of this partnership is that insurance claims can be processed without exposing the private data of the user, while querying sensitive data required for the process. Basically, this is performing insurance processes in the most private way possible, and thus it mitigates the risks of insurance irregularities.
Nsure launched its beta version on the Ethereum blockchain, and its deployment with the user-privacy feature of the Oasis Network makes the processes transparent and private data-secure.
Creditability is an important part of online systems, and this is what Shyft is bringing to the Oasis Network, and thus users of the network will have access to an improved transaction framework that encourages interoperability, flexibility, and robustness. With the confidential computing feature of the Oasis Network, user data will be kept private when data processes are being performed, and it is a one-off access to that private data, as it cannot be used again unless the owner of the private data permits the reuse. The partnership will facilitate the integration of verifiable credential identification frameworks, and thus give the users complete control over their privacy.
Neuroscience is evolving fast, and this can be attributed to both the evolution of humans, and the emergence of new technologies. Human AI technology can best be described as the personalized AI version of a human’s memory, and this is achieved with the aid of different AI components and an Intranet. With it, users can easily store their memories in AI form, and retrieve them whenever they want to use the memory. For a novel idea as this, private data will get stored in memory blocks, and thus it is imperative that the private data is kept as safe and secure as possible. This is where the significance of the partnership between Human AI and the Oasis Foundation comes to play. With the Oasis network, the private data of the users are kept safe, and individual memory stacks can only be accessed by the user.
2021 is looking promising for the Oasis Network, as the partnerships it has gone into are indicative of the fact that the possibilities are endless, and there will be more interesting developments to the system this year and in the near future.