Blockchain-Based Data Storage: Dwinity Opens New Possibilities for Predictive AI

-Dwinity enables consumers and organizations to store and use sensitive data in a secure and completely anonymized environment, access to the trial phase possible since August

–  Predictive AI is at the heart of the blockchain-based data ecosystem

–  The tech startup’s seed funding was completed under the new MiCAR regulation for crypto assets; the next round will occur as a private token sale

Current methods of using big data and AI are far from sufficient to publish new trustworthy AI applications – there is still a lack of high-quality data. Only a decentralized solution for data storage can help people make their most valuable data available for the common good or for use in commercial research.

Dwinity, a German tech startup from Munich, is tackling this problem with a data ecosystem centered around a decentralized, secure and anonymous storage location for sensitive personal data. Dwinity is now giving first test users access to this storage location.

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Users register through their wallet address as they usually do in the blockchain environment . This means that access is always possible regardless of the device or authentication method. Access to this stage is primarily granted to the community, whose desire for more data protection and privacy on the Internet is in line with Dwinity’s mission. The community already numbers over 40,000 individuals worldwide.

The official launch of the data storage product, which is 100% GDPR-compliant, is scheduled for Q4/2024. The cryptocurrency DWIN, a token provided by Dwinity, is required to use the data storage and to participate in the data ecosystem where users can share their data anonymously with industries such as pharma, healthcare and others. At the same time, data owners retain full control over their data. This is enabled by cooperation with leading technology providers, in particular Nillion and STORJ. Dwinity is a proud partner of NVIDIA’s Inception Program.

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“Blockchain technology is becoming a game changer, enabling users to securely share their data and social capital from social networks or use it for personal predictive AI applications. Decentralized markets for data storage are already part of the infrastructure and resources that are important for the advancement of AI technologies. With Dwinity, we will unlock this potential for Predictive AI,” confirms Dr. Robin Basu, Co-Founder and COO of Dwinity.

Dwinity’s next round of capital comes in the form of a private token sale
Dwinity conducted its seed financing under the EU’s new Markets in Crypto-Assets Regulation (MiCAR) and is one of the first companies to use this opportunity to access the capital market. The seed round achieved a total investment of 2.4 million US dollars. The next financing will also take the form of a private token sale. In the medium term, the plan is to list on a DEX, a trading platform for cryptocurrencies, and later a central crypto exchange (CEX/ ICO) to make the DWIN token publicly tradable.

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