Kylin Network — Strategic Partnership with Ruby Protocol
We are excited to announce that we’ve established an ecosystem partnership with Ruby Protocol, a privacy-centric web3 data management platform to push the realization of the DeData economy further, even as we build the infrastructure to source complete, valid, and reliable data.
While Kylin builds the configurable and modular data infrastructure to guarantee that validated data is fed in and out of the entire blockchain ecosystem, Ruby ensures that privacy is maintained where necessary within the Web3 sphere with its privacy-as-a-service platform.
The Kylin Network ecosystem will utilize this ecosystem partnership to;
- Enforce privacy for users of dapps on the Kylin Network dapp ecosystem. Ruby’s privacy management infrastructure will provide the shielding layer to guarantee users of their data custody. It will also facilitate validated yet private DeData supply across chains.
- Provide a fine-grained Access Control channel for DeFi, NFT, or DID-gated applications designed with a stratified permission model and other regulatory-compliant use cases.
- Establish a Private Payment Network to strengthen the data monetization model of the Kylin Infrastructure and its accessible data marketplace.
With both infrastructures built with a modular, flexible and synergistic design, more opportunities for integration are anticipated as the partnership grows more robust. We believe this strategic partnership positions the Kylin Network and Ruby Protocol as significant drivers of the already horizon self-sovereign data economy.
Why are we excited?
Kylin Network agrees that data is the new oil, and with new devices, sensors, and technologies emerging, the data growth rate will accelerate at an unprecedented speed. How to protect and take control of your data would be one of the significant problems to unravel.
Both teams believe that individual data monetization must be expedited to reclaim control of data and privacy. We need to grasp the pricing power firmly. And the more we decide to price our data, the more valuable it becomes.
Dylan Dewdney, CEO of Kylin Network:
“We are very pleased to work with the team at Ruby Protocol to co-develop the oracle scripting parameters that will be useful to their architecture. I find their vision fascinating and liberating as well. Kylin Network aims to build a cross-chain platform powering the Data Economy on Polkadot. At the same time, Ruby Protocol takes it to another level and envisages a marketplace where you control your data and its transaction. We are very excited to explore what further synergies there may be in the context of data monetization and data economy.”
Mindaugas Savickas, General Manager of Ruby Protocol”
“We are thrilled to work with Kylin Network, an OG project in decentralized data, to drive true ownership and management of data in Web3. To us, data is the underlying value of everything, and we will eventually bring data privacy and ownership to reality and make them accessible to all.”
About Kylin Network
Kylin Network strives to be a composable and configurable multi-level oracle infrastructure built as a Polkadot parachain, for the democratization and delivery of accurate data on time, at a reliably low cost. Kylin hopes to offer a way for chain-agnostic APIs to serve data according to service level agreements (SLA) that the consumers of this data will be aware of.
Data source compatibility beyond price feeds will bootstrap a free data market. This will allow market demand to determine the direction of the innovation of a feed, its price, and supply. With dynamic NFTs & SFTs, Kylin’s ongoing development will innovatively tokenize data streams that democratically will be accepted on the Kylin Network.
About Ruby Protocol
Ruby Protocol is a Layer 1 privacy blockchain that enables a private data management framework for Web 3.0 and proposes and implements a privacy layer for interacting with the multi-chain ecosystem. It is a fine-grained private data access-control gateway across different entities and organizations in the decentralized and traditional financial world.
Originally published at https://kylin.substack.com on September 9, 2022.