Introducing DataProtector ‘The Monetize Version’ — Dev Tool Upgrade

iExec is excited to introduce a newly upgraded version of our DataProtector dev tool, dubbed ‘The Monetize Version’. This version introduces a new module called DataProtectorSharing, adding a set of methods for distributing and monetizing your protected data. These new features allow developers to build apps that offer Web3 users full control of ownership, sharing, and monetization of what they own. It simplifies Web3 ownership control and data management complexities, ensuring secure sharing and unlocking the economic potential for developers, DApp users, and content creators through the iExec RLC token.

A complete solution for ownership in Web3

While the promise of Web3 is undeniable, many current Web3 solutions present challenges that limit users’ data ownership and control. Our previous article “Why You Still Lack Full Ownership Control in Web3” explored the limitations imposed by restrictive frameworks and centralized control mechanisms in Web3 that prevent users from fully managing and profiting from their digital assets. Key challenges include:

Limited monetization: Restrictive frameworks lock you into unflexible revenue models, hindering your earning potential.

Lack of control over how your digital assets are used: You often can’t decide how your data is used. Centralized control points dictate who accesses your data, undermining the core principles of Web3.

Limited control, security, and transparency for other types of digital assets: Existing solutions struggle to protect a wider range of digital assets beyond tokens and NFTs.

Build apps with data ownership and monetization features by design

The upgraded DataProtector developer tool, dubbed the DataProtector ‘Monetize Version’ makes it easier for developers to integrate ownership control and monetization features into their DApps, and for DApp users to own, share, and monetize their data like never before. Think of it as the key to unlocking the full potential of Web3. It integrates user-centric features designed to empower developers, content creators or anyone else that owns digital assets in Web3.

DApps built with iExec DataProtector offer users full ownership control over their data, while opening up new monetization opportunities allowing users to directly profit from what they own. All monetization transactions within the DataProtector ‘Monetize Version’ are facilitated using iExec RLC token, iExec’s native cryptocurrency, ensuring secure and transparent transactions.

This version introduces a new module called DataProtectorSharing, adding a set of methods for distributing and monetizing your protected data. These work seamlessly in your own applications in a way that’s transparent to end users. The user’s protected data is managed by a special DataProtectorSharing smart contract that executes to enforce the user’s desired sharing paradigm. Protected data is bundled by the user into one or more collections. Within the collection, the user may specify different sharing options for a variety of types of data or content.

DataProtector ‘The Monetize Version’ empowers you to take back control and monetize your data. The choice is yours.

How is it different?

Features of the new DataProtectorSharing module:

The original iExec DataProtector Core already provided essential functionalities for data protection, allowing users to encrypt their data, record ownership on a smart contract, and ensure confidentiality and traceability. Key features include encrypting and securing data on the client side, granting and revoking access to applications, and transferring ownership securely.

The new DataProtectorSharing module enhances these capabilities, introducing:

Secure sharing: Protected data can be distributed without monetary exchange, allowing users to share information freely while maintaining control and security.
Renting: Users can rent access to protected data for a specified duration and price. This allows data owners to earn while still retaining ownership.
Selling: Ownership of protected data can be sold, enabling users to fully capitalize on their digital assets by transferring ownership rights in a secure and verifiable manner.
Subscription bundles: Protected data can be included in subscription bundles, offering flexible access options for users. The owner of the bundle decides on the periodicity and subscription price, allowing data owners to earn a steady revenue in iExec RLC tokens by providing access to multiple data sets or services.

The new upgraded version differentiates itself by allowing users to distribute their protected data to a wider audience effortlessly. Users authorize distribution channels upfront, and consumers trigger smart contracts on their own, requiring no additional activity from the data owner. Key benefits include not needing to know the consumer’s Ethereum address, no need for the data owner to sign a transaction at the moment of distribution, and automatic enforcement of distribution and monetization choices by the Data Sharing smart contract.

This is achieved by leveraging iExec’s powerful combination of blockchain and Confidential Computing technology which includes end-to-end encryption, and robust security with Intel SGX Trusted Execution Environment (TEE) to keep data hidden even from the node owner.

iExec is committed to empowering Web3 users by enabling them to have full control over their digital assets, prioritizing data privacy, and enabling monetization. The release of the upgraded DataProtector dev tool achieves just that, allowing developers can create truly unique Web3 apps. It revolutionizes the Web3 experience and sets a new standard in the decentralized economy.

We’ll soon publish a demo application to be used as a template for developers who want to explore the updated DataProtector dev tool. In our “The Tech Behind the Tools” series, we’ll also deep dive into the iExec protocol and Confidential Computing tech stack making up the dev tool.

Start building today!

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