Knowledge community Masa Finance, which describes itself as architecting the “decentralized Google for the AI period,” is ready to launch a decentralized knowledge community and market in Q1 2024.
Masa is collaborating with the managed blockchain service AvaCloud to deploy a gasless Avalanche subnet (application-specific blockchain). The customizable blockchain can be designed to deal with excessive volumes of zero-knowledge encrypted knowledge effectively and cost-effectively, in line with an announcement.
Masa beforehand secured $3.5 million in pre-seed funding to construct its decentralized credit score knowledge protocol in Might 2022.
The subnet represents an growth of Masa’s present knowledge protocol. The mission, the group says, goals to offer customers management again over their private knowledge and be compensated for its use. “We had been doing credit score knowledge in early 2022, after which generalized the expertise for all consumer knowledge beginning August 2022. This [subnet] for knowledge analytics is extra of an growth in scope,” a Masa spokesperson informed The Block.
“We explored totally different choices out there when choosing the infrastructure to construct a devoted Masa blockchain,” Masa co-founder Brendan Playford stated. “Constructing on Avalanche utilizing AvaCloud, Masa is ready to launch a gasless self-sovereign chain which permits excessive throughput of transactions and powers use circumstances that devour excessive volumes of personal knowledge – all at a low value.”
Masa can also be receiving assist from the Avalanche Basis and funding from Avalanche’s Blizzard Fund to assist develop the platform. The funding quantity was not disclosed. This comes after NodeKit not too long ago closed a $1.2 million pre-seed spherical to additionally construct an Avalanche-based community for rollups.
How Masa works
Masa’s system makes use of a zero-knowledge soulbound token (zkSBT) that acts as a private knowledge locker — a digital device designed to securely handle and management a person’s private knowledge. It encrypts and shops people’ digital footprints and social graphs to make sure privateness of their exercise, resembling participation in web3 communities or use of decentralized purposes.
The group claims that over 890,000 consumer wallets have permissioned greater than 8 million knowledge occasions on Masa over the previous yr. With the launch of its zk-data market, customers will have the ability to view their data of their zkSBT locker and share that knowledge within the market through staking in return for compensation. For example, customers might enable monetary establishments to entry their Masa zkSBT for age verification with out accessing their beginning date.
“That is the proper structure to assist our zk-data community and market,” Masa co-founder Calanthia Mei added. “By deploying on a devoted Avalanche subnet, main monetary establishments, AI startups, and large-scale shopper tech purposes can entry safe, scalable, zk-encrypted consumer knowledge with out paying any fuel.”
Masa argues that the proprietary silos of massive tech firms exploit private knowledge with out consumer consent or compensation — one thing that’s worsened by the proliferation of AI as demand for peoples’ private knowledge grows exponentially to coach fashions and brokers.
