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Inery

7 months ago

Our Vision for Data: Take Control Over What is Yours

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Have you ever wondered how you are shown the advertisements of products on Instagram that you search on Google? Have you received emails to reset your password because your food delivery app or music streaming app was hacked? Or have you ever wondered why applications seek your permission to ‘track your data’ and is the protocol actually being followed?

In the digital era that we belong to, it is likely that you have already asked atleast one of these questions. These concerns emerge from the current practices about data.

Harvesting on our personal data

Over the past decade, a large industry has been collecting a massive amount of personal data. From social media applications to websites and ads, tech firms have been harvesting and benefiting from our data. Moreover, this occurs every day as we go about in our daily lives without our permission or acknowledgement.

This data economy has resulted in an industry that will rise to more than US$400 billion by 2025. From tech monopolies to “free applications”, each of them benefits from harvesting our personal data. But, how do they have access to our information? More importantly, how do we get back control over our data?

Our data is not with us

Picture this scenario. On the way to the office, Bob uses his smartphone to look for weather conditions, read news and check traffic on his route. During the same time, there are 3 other applications running in the background and collecting data which will then be sold to developers and brokers. Meanwhile, Bob is completely unaware while his data is being sold to bidders and advertisers. This means that his information is available for anyone to purchase or any company to monetize.

All this is because our legacy data systems are built on a centralized architecture. This means that there is a centralized entity accessing and controlling our information. Whenever you engage on Facebook, your data is collected by the social media giant. Moreover, it is also stored on the handful of servers that Facebook has.

This is an issue for two reasons. One is that Facebook uses our data for its own personal benefits without our knowledge. Secondly, it is easy for anyone to hack or breach our information by attacking Facebook’s servers. Do you remember the Facebook Cambridge Analytica incident where over 87M users’ data was breached?

This is one company and its application. Imagine how many applications, companies, and systems we engage daily? How many bytes of our data is accessed, used, analyzed, sold and manipulated?

Coming back to our second question, how do we get control over what is ours?

Let’s do it the decentralized way

It is clear that, first and foremost, the database needs to be managed on a decentralized architecture. Where no companies from Google to Facebook can unethically use our information without our knowledge or approval.

Inery is a blockchain solution that enables a decentralized architecture for database management. This means that instead of your data stored on centralized servers controlled by third-party organizations, your data will now be stored and managed on a decentralized network. More importantly, the control over your information will remain in your hands. You have the power to decide who can see your information, access or even monetize.

What Inery does is store this data on a distributed network of computers or devices. Before, the data was stored on company servers like Facebook in a handful of locations. This made it easy for an attacker to breach a server and get millions of bytes of information. Inery distributes data on multiple servers so that it becomes impossible for an attacker to breach servers all at once in order to access information.

Looking at a broader scale

The aspects of privacy, security and owner-controlled assets are equally relevant for business organizations whose very lifeline is database management.

“Any enterprise CEO really ought to be able to ask a question that involves connecting data across the organization, be able to run a company effectively, and especially to be able to respond to unexpected events. Most organizations are missing this ability to connect all the data together” says Sir Tim Berners-Lee, the inventor of the World Wide Web.

While decentralized storage services gave a massive push to data, it can only go so far. With Inery, we are going one step further by enabling a decentralized database management solution. Inery combines blockchain functionalities with traditional database management features. This would allow the platform to do everything that a conventional database management solution does but with added advantages of decentralization, security and owner-control.

This innovation will completely revolutionize an enterprise’s way of conducting data. IneryDB, the database management solution, offers unrivaled security, rapid response time and low-cost database management solutions. Some of the key benefits include secure information management for companies to safely store sensitive data such as customer records and credit card numbers while still maintaining high performance.

With Inery, you will not have to constantly look over your shoulder to see who is privy to your private and integral information. Most importantly, it gives you a say in what you want to do with your data. It offers you to take control over what is rightfully yours.

About Inery

Inery is the first-ever decentralized database management and blockchain solution with the vision to enable a new paradigm for data. The platform activates an upgradeable way of accessing data by combining blockchain technology functionalities such as immutability, security and user-controlled data assets with distributed database management properties such as low latency and complex queries. Its layer-1 blockchain enables cross-chain interoperability, scalability and an environmentally sustainable network to support the deployment of decentralized applications.

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