Data Lake: DeSci the Future of Crypto after the FTX Fiasco?

It’s nary astonishment that the quality astir FTX has dominated the headlines implicit caller weeks. Since the debacle was made public, respective different dominoes person started to autumn including the announcement that BlockFi has filed for bankruptcy. Before each of this determination was the LUNA/Terra implosion, and if you’ve been astir agelong capable you’ll retrieve of people Mt. Gox and BitConnect.

There are galore reasons wherefore FTX fell from its crypto pedestal. To start, a persistent deficiency of transparency successful bid to obscure what astatine champion tin beryllium described arsenic mismanagement. Next, utilizing their ain token for valuation erstwhile it had nary instauration successful tangible oregon invaluable assets. An inexperienced squad who were successful implicit their heads lone made things worse…the database goes on. The question truthful has to beryllium asked: however tin we debar the adjacent FTX and the collateral harm to blockchain’s estimation that these disastrous events cause? How tin we prevention crypto?

To bash so, we indispensable instrumentality to the roots of blockchain and founding principles, wherever projects are evaluated based connected their tangible value, real-world usage cases, and the problems they tin lick utilizing DLT and web3 technologies. Tired of scams and vaporware, galore successful the crypto assemblage person begun to recognize the value of specified fundamentals. One of the movements that champion represents this displacement successful mentality is DeSci. Decentralized Science is simply a increasing country of blockchain that seeks to use the champion of web3 technologies to lick immoderate of the biggest issues successful science. From backing fusion vigor and abstraction research, to uncovering cures for diseases done information donation, DeSci is simply a instrumentality to the cardinal halfway values that gave commencement to blockchain and cryptocurrencies successful the archetypal place. Transparency, equity, and the removal of the request for entities to spot 1 another.

And that’s precisely what EU-funded commencement up Data Lake is aiming to achieve. As mentioned in the erstwhile article, Data Lake is creating a aesculapian information donation strategy that aims to lick immoderate of the biggest issues successful aesculapian science, with idiosyncratic consent, transparency, and equitable rewards arsenic halfway pillars. The strategy allows anyone to stock their aesculapian information with scientists, providing researchers with information that is desperately needed to assistance find cures and caller treatments for diseases. By putting each consent and data-related operations connected the nationalist Polygon blockchain – with nary idiosyncratic accusation ever included – Data Lake has built a transparent and trust-less information sharing strategy that is unfastened to inspection from anyone astatine immoderate time. To guarantee the strategy is some sustainable and fair, they’re launching it with a caller “Consent-to-Earn” mechanics that allows radical to stock successful the rewards of a information system worthy hundreds of billions of dollars worldwide.

“With the advent of GPT3 and evolving AI, the request for prime information sets is astatine an each clip high. However, information is progressively harder to entree owed to much and much robust privateness extortion regulations that are being introduced each astir the world.” says Dr. Wojciech Sierocki, co-founder and CEO.

“Our Consent-to-Earn strategy offers the 3rd alternate to this struggle of values. Not lone does it springiness radical bureau implicit their data, but it besides offers an casual mode to stock successful the rewards of the information economy. It’s a cardinal paradigm displacement successful the mode we entree delicate accusation portion abiding by privateness regulations and respecting patients’ rights.”

Data Lake is conducting a just motorboat of the LAKE token by simply making the token disposable connected Uniswap to the wide public, astatine the aforesaid terms that was offered to Seed and Strategic investors. It besides means that they aren’t utilizing launchpads oregon incubators that petition a ample information of tokens. They’re not utilizing shilling groups oregon bots that manipulate nationalist sentiment and instrumentality radical into investing by artificial and manufactured hype. Instead they person acceptable up their attack to the motorboat and tokenomics truthful that the ecosystem is sustainable, and aligns the interests of each participants alternatively than conscionable favoring the large players.

“While not a panacea for each of our crypto-woes, for blockchain to person a aboriginal we indispensable instrumentality to the founding principles of decentralization, equity, and the removal of spot from the speech of data. That’s wherefore fairness, transparency, and creating sustainable and equitable worth are the halfway drivers of our decisions.” says Dr. Ligia Kornowska, co-founder and Chair of the committee of Data Lake.

The declaration for their LAKE token has been afloat audited, and provides the technological instauration for the “earn” information of their Consent-to-Earn system. Their information donation strategy is already connected Polygon mainnet, the startup has already collected hundreds of consents, and they person orders for information lined up from much than 20 probe entities successful mentation for the archetypal information transportation and afloat motorboat of their strategy successful the coming weeks.

For the Data Lake team, this just motorboat attack represents a instrumentality to the cardinal principles of blockchain and crypto; transparency, equitable entree to integer economies, decentralization, and utilizing blockchain not for speculative fiscal investment, but to lick immoderate of the cardinal issues facing humanity. Until much crypto and web3 projects instrumentality to these principles, different FTX volition ever beryllium conscionable connected the horizon.

As for Data Lake, they are going each successful connected the thought that returning to a transparent and fundamentals-based attack represents the aboriginal of blockchain; without this displacement backmost towards founding principles, crypto cannot and volition not survive.

About Data Lake:

Data Lake is gathering a planetary aesculapian information donation strategy based connected blockchain exertion and with a Consent-to-Earn incentives mechanism using the LAKE token. They’re empowering radical to springiness consent to the usage of their aesculapian information successful a safe, casual and backstage way, portion providing ample information sets that revolutionize technological probe and aesculapian studies. Their token motorboat volition hap connected Uniswap connected December 7th, astatine 15:00 CET.

Data Lake Website | Data Lake Twitter | Data Lake Telegram | Data Lake Medium | Data Lake LinkedIn

Press Contact: Dinidh O’Brien

Contact Title: Global Head of Public Relations

Contact Email: [email protected]

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