News about FTX , has been dominating the headlines for the past few weeks. Since the debacle went public, a few other dominoes have started to fall, including the announcement that BlockFi has filed for bankruptcy. Those of you who have, of course, remember Mt. Gox and BitConnect.
There are many reasons why FTX fell off the crypto pedestal. First of all, there is an ongoing lack of transparency to obscure what could at best be mismanagement. Then, use your own tokens for valuation when there is no basis for tangible or valuable assets. An inexperienced team that was overwhelmed only made things worse…the list goes on. So the question must be asked about his next FTX and how we can avoid the collateral damage to Blockchain reputation caused by these disastrous events.
To do so, the roots of blockchain, where projects are evaluated based on their concrete value, real-world use cases, and the problems they can solve And we have to go back to the founding principles of using DLT and web3 technologies. Tired of scams and vaporware, many in the crypto community are starting to realize the importance of such basics. One of the movements that best represents this shift in thinking is his DeSci. Decentralized science is a growing area of blockchain, applying the best of web3 technology to solve some of science’s biggest problems. From funding fusion energy and space research to discovering cures for disease through donated data, DeSci is a return to the fundamental core values that first gave rise to blockchain and cryptocurrency. Transparency, fairness, and elimination of the need for entities to trust each other.
And that’s what EU-funded start-ups data lakes are trying to achieve is. As mentioned in our previous article, Data Lakes can help solve some of the biggest problems in medical science through user consent, transparency, and fair compensation. We are creating a medical data donation system for the purpose of as a core pillar. The system will allow anyone to share their medical data with scientists, providing researchers with the data they need to find cures for diseases and new treatments. By putting all consent and data-related operations on the public Polygon blockchain (which does not contain any personal information), Data Lake creates a transparent and trustless data sharing system that can be viewed by anyone at any time. Did. To ensure the system is sustainable and fair, they are introducing a new “agree and earn” mechanism. Data economy payoffs worth hundreds of billions of dollars worldwide.
“With the advent of GPT3 and evolving AI, the need for high-quality data sets has never been greater.” Dr. Wojciech Sierocki, Co-Founder says. and CEO.
“Our consent system provides a third alternative to this conflict of values. It not only empowers us, but also provides an easy way to share the benefits of the data economy, a fundamental paradigm in how sensitive information can be accessed while complying with privacy regulations and respecting patient rights.”
Data Lake simply makes the tokens available on Uniswap, a fair investment of LAKE tokens. We are launching to the general public at the same price offered to seed and strategic investors. It also means that you are not using launchpads or incubators that claim the majority of tokens. They are not using shilling groups or bots to manipulate public opinion and trick people into investing through artificial and manufactured hype.
“”While not a panacea for all cryptocurrency problems, for blockchain to have a future, it must return to the fundamental principles of decentralization: fairness, and the protection from data exchange. The removal of trust, which is why fairness, transparency and the creation of sustainable and equitable value are core drivers of our decision-making.says. Her Ligia Kornowska, co-founder of Data Lake and chairman of the board.
Their LAKE token contract is fully audited and provides the technical foundation for the “earn” portion of the Consent-to-Earn system. Their data donation system is already on the Polygon mainnet, the startup has already collected hundreds of consents, and is preparing for the first data transfer and the full launch of the system in the coming weeks, over 20 research institutions. Data orders are lined up from .
Data Lake For his team, this fair launch approach represents a return to the foundational principles of blockchain and crypto. The use of blockchain not for transparency, equitable access to the digital economy, decentralization and speculative financial investment, but for solving some of the fundamental problems facing humanity. Another of his FTX is always on the horizon until more crypto and web3 projects return to these principles.
When it comes to data lakes, they’re all about transparency and the idea of back to basics. The in-based approach represents the future of blockchain. Without this shift to founding principles, crypto cannot survive. About
Data Lake is a consent-earning global medical data donation system based on blockchain technology. is building. Incentive Mechanism Using LAKE TokensThey allow them to consent to use their medical data in a safe, easy and private way, while at the same time promoting scientific Massive data sets that revolutionize research and medical research. Their token launch will take place on Uniswap on December 7th at 15:00 CET.
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