Jupiter Chain, a Smart Consentable Data Exchange, Announces Its Launch

Information Technology Press Releases Monday June 25, 2018 10:21
SINGAPORE--25 Jun--PRNewswire/InfoQuest
  • Jupiter Chain's infrastructure allows for the decentralized provision of financial and data services, such as machine learning and AI, to connect local ecosystems and ultimately scale the exchange of data over a marketplace.
Jupiter Chain, a decentralized, consentable data exchange providing valuable and tradeable data assets, announces its global launch today.

Described as a smart, consentable data exchange, Jupiter Chain's technology ensures the flow of permissioned digital information while ensuring the anonymity and security of personal data. This is achieved through the use of smart contracts, used to preserve privacy by returning assessment results and big data collection without revealing personal data. Identity data can be verified and stored on a secure system with data access requested and permissioned directly from the data owner via a rights management engine.

Ernie Teo, CTO of Jupiter Chain, says: "We are proud to be building what we call a federated blockchain, meaning local partners such as financial institutions, agencies, analytics companies and other service providers each make up a node in an overall ecosystem. Jupiter Chain provides the infrastructure to connect local ecosystems and will ultimately scale the exchange of data over a marketplace."

Jupiter Chain combines the latest advancements in blockchain and data analytics to create a data exchange platform that is accessible to everyone, and that many other use cases can be built upon. Because participants can share data on Jupiter Chain anonymously, transactional and relationship data can be efficiently captured, analyzed and utilized. Institutions, both large and small, can benefit by tailoring wealth management and investment products precisely to suit an individual. New 'tech for good' solutions can use psychometric and lifestyle data to provide new products and services that strive to promote better quality of life. Supply chain internets, previously invisible, can also be evaluated and studied for the first time.

To validate and test Jupiter's value proposition, 'inclusive finance' has been chosen as a first use case. Access to finance is considered a major pain point for large excluded populations, especially in developing countries. Jupiter believes it can make a significant difference and impact in this area by providing a data exchange that is accessible to everyone.

Daphne Ng, CEO of Jupiter Chain, says: "Our mission is for Jupiter Chain's decentralized provision of financial and data services to enable inclusive finance for the masses and channel equal opportunities to the underserved. We believe blockchain holds the key to democratizing power and resources with trust, fairness and accountability. It has the ability to bring power to the masses over their own data."

Because the Jupiter Chain is a global network that connects local economies, it can also serve as a bridge between first and third world economies, reducing the gaps and creating an inclusive world. Jupiter Chain launched today on a global basis.

About Jupiter Chain

Conceived by JEDTrade, the Jupiter Chain project is a Smart Consentable Data Exchange platform that aims to create a privacy preserving federated blockchain which enables the use of analytics. The first use cases of Jupiter Chain will be in inclusive finance such as microlending and micro supply chain financing. Data owners control their data and provide access to receive tailored financial services.

Logo - https://photos.prnasia.com/prnh/20180622/2170693-1

Latest Press Release

Spotify Kicks Off the Holidays with Premium Offers for Music Fans

Back by popular demand! Spotify is decking the halls this season by reintroducing its limited-time holiday offers for new and existing users, giving music lovers access to millions of songs on demand, ad-free and with high quality audio. Spotify Premium...

Despite increasing trade tensions business confidence in Asia Pacific remains high

Business leaders across Asia Pacific remain confident that their companies revenues will grow over the next 12 months despite increasing trade frictions. In its latest survey of 1,189 business leaders across the 21 Asia-Pacific Economic Cooperation...

ACUVUE(R) OASYS with Transitions(TM) Light Intelligent Technology(TM) Named in TIME#s #Best Inventions of 2018#

- First-of-its-kind[i] contact lens corrects vision and adapts to changing light conditions to enhance comfort and performance in everyday life TIME has selected ACUVUE(R) OASYS with Transitions(TM) Light Intelligent Technology(TM) as one of the 'Best...

Hydroid Receives Order for New Generation REMUS 6000 AUV from Japan Agency for Marine-Earth Science Technology (JAMSTEC)

Hydroid, Inc., a subsidiary of Kongsberg Maritime and a leading manufacturer of autonomous underwater vehicles (AUVs), today announced that it received an order for a New Generation REMUS 6000 AUV from the Japan Agency for Marine-Earth Science Technology...

Votiva, Gold Certified Microsoft Partner, in partnership with Annata 365 launches the innovative program #MICROSOFT DYNAMICS 365 / ANNATA 365 for the ultimate business solutions for Southeast Asias automotive industry

Votiva Thailand collaborates with Annata organized a seminar to educate Thai business owners and dealerships within the automotive industry on the beneficial impact of Microsoft Dynamics 365 - Annata 365 on supporting their thriving business. Microsoft...

Related Topics