Dwinity Launches Trial Phase for Decentralized Data Storage Platform with Predictive AI at Its Core
Munich, September 4, 2024 – Dwinity, a German tech startup based in Munich, has launched the trial phase for its revolutionary decentralized data storage platform. The platform, which utilizes predictive AI, aims to address the issue of data privacy and security by providing a secure and anonymous storage location for sensitive personal data.
According to Dr. Robin Basu, Co-Founder and COO of Dwinity, current methods of using big data and AI are not enough to create trustworthy AI applications due to a lack of high-quality data. This is where Dwinity comes in, providing a decentralized solution for data storage that allows users to share their data with industries such as pharma and healthcare while retaining full control over their information.
“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,” says Dr. Basu. “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.”
The trial phase, which began in August, allows first test users to access the secure storage location by registering through their wallet address on the Dwinity website. The community, which has already surpassed 40,000 individuals worldwide, is primarily granted access to the trial phase in line with Dwinity’s mission to provide more data protection and privacy on the internet.
Dwinity’s data storage product is set to be fully launched in Q4/2024 and will be 100% GDPR-compliant. The platform will require the use of the cryptocurrency DWIN, a token provided by Dwinity, to access the data storage and participate in the data ecosystem. Users will be able to share their data anonymously with industries while also having full control over their information. This is made possible through partnerships with leading technology providers such as Nillion and STORJ, as well as being a proud partner of NVIDIA’s Inception Program.
Dwinity has completed 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, and the next round of financing will also take the form of a private token sale. In the medium term, Dwinity plans 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.
For more information, please visit https://dwinity.com.
About Dwinity
Founded in 2023, Dwinity’s mission is to give power back to users over their data and create a thriving data economy where information asymmetry is finally eliminated. The company offers a secure, user-friendly platform that utilizes blockchain technology and predictive AI to unlock the full potential of personal data. Dwinity has partnerships with leading providers such as Nillion, Storj, Bitbond, SKW Schwarz, Annerton, and others. For updates and news, follow Dwinity on Instagram, Telegram, YouTube, and LinkedIn.
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Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.