Privasea CEO David Jiao: Building Trustless Humanity and Redefining Web3 Security

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As a seasoned analyst with years of experience navigating the complex and ever-evolving landscape of blockchain technology, I was particularly intrigued by David Jiao’s insights during our interview at Crypto AI:CON 2024. His vision for Privasea, a pioneer in the Web3 space tackling the issue of bots, resonated with my own beliefs about the need for secure and privacy-focused solutions in this digital frontier.

At the Crypto AI:CON 2024 conference, we had an engaging conversation with David Jiao, the CEO of Privasea – a pioneering entity in the Web3 sector, tackling one of its critical issues: the prevalence of bots.

Privasea aims to establish a “Proof-of-Humanity” environment for decentralized apps, ensuring equitable participation while preserving user confidentiality. In simpler terms, they’re working on a system that allows people to engage with decentralized apps fairly, all while protecting their personal information.

In this enlightening conversation with Luka, Lunar Strategy’s Head of Sales, David discusses how Privasea is revolutionizing the fight against automated fraud in the blockchain sector by combining sophisticated biometric authentication and secure, no-trust environments. This innovative approach is raising the bar for industry standards.

To me, “trustless humanity” implies a system where human interactions are based on rules or protocols that don’t require trust in the other party because of the inherent security measures.

One of our primary objectives is creating bot-resistant solutions, which form a crucial aspect of our product lineup. We’re developing a system based on the principle of ‘Proof-of-Human,’ enabling our ecosystem collaborators to effortlessly confirm that an address or user account is genuinely associated with a human entity.

This attestation of humanity can be accessed on-chain or off-chain through our API or ABI, making it straightforward for partners to integrate. They can check our smart contract to confirm if a user is a trusted human.

The intention behind this is to counteract fraudulent activities like scams and bot farming within the Web3 environment. However, it’s not about preventing human engagement; quite the contrary, genuine human interaction with projects is advantageous as they invest their time and effort, fostering a thriving ecosystem.

We’re aiming to identify and prevent the usage of pre-written programs or automatic tools that accumulate tokens. Our goal is for projects to acknowledge and compensate genuine human participants instead of these automated entities.

What makes automated systems (bots) an increasing issue within the Web3 environment as artificial intelligence advances, and how does Privasea tackle this problem while maintaining user privacy using biometric authentication?

As a crypto investor, I’m constantly reminded of the growing sophistication in technology, particularly large language models and AI agents. This advancement has made it increasingly difficult to distinguish bots from real humans. Unfortunately, these bots can now even simulate human voices to spread harmful content or scam unsuspecting individuals. This is a significant challenge we all must be aware of and navigate carefully in our digital interactions.

In the age of advanced AI, it’s crucial for me, as a researcher, to emphasize the importance of robust authentication techniques to combat bots. One method that stands out as both effective and secure is the utilization of biometric data. At Privasea, we’ve chosen to implement this approach as our proof-of-humanity solution, ensuring genuine user identification in our system.

We aim to ensure that users can authenticate themselves using biometric data while maintaining the utmost privacy. It’s important that they don’t have to disclose their biometric data unnecessarily to collect a small number of tokens. Our objective is to empower users to manage their own biometric data, keep it securely, and still be able to verify themselves safely in Web3 without any worries about privacy breaches.

As a crypto investor, I’m always curious about how platforms like Privasea ensure both security and a trustless environment. Particularly, I wonder how they deal with the challenge of combating bots. To put it simply, I’d like to know more about their strategies for maintaining a secure and bot-free investment space.

Initially, we ensure a smooth user experience by enabling them to register and manage a Soulbound Token (SBT) within our platform. This distinctive emblem can be connected to their social media profiles or digital wallet addresses, making their “verification of humanity” publicly accessible on the blockchain. It resembles Web3 domain collaborations, like Vitalik’s .eth address signifying his wallet.

When users provide their digital wallet addresses, they’ll get a ‘Proof of Human Verification Badge,’ which verifies their identity. This process is transparently recorded on the blockchain and can be easily verified. We believe this added layer of security will be favorably received in the market as it’s currently a missing element.

Can you share some details on the mainnet launch and key features users can expect?

In December, we’ll unveil a beta version of our testnet for public use. Owners of nodes will have the opportunity to participate in pre-mining within our network by demonstrating readiness, and we extend an invitation to specialized accelerators focused on Fully Homomorphic Encryption (FHE) to collaborate with us and contribute their computational resources to enhance FHE machine learning capabilities within our network.

In the first quarter of the year 2025, we’re set to launch our primary network. Once on this network, we will enhance our capability to accommodate a wider range of machine learning models using Fully Homomorphic Encryption (FHE) channels. This means developers can optimize their entire pipeline within our system by just paying gas fees.

Could you give specifics on the upcoming TGE and its potential impact on the ecosystem?

I can’t confirm the exact date of the TGE, but I can say it will significantly strengthen the ecosystem. Once it happens, the tokens can be used in the network as fundamental utilities, like gas fees, supporting the FHE machine learning network. Miners providing computational power will be rewarded with tokens, and the ecosystem’s utility tokens will incentivize both the supply and application sides.

Additionally, the Token Generating Event (TGE) also extends benefits to our early adopters. Currently, we boast an impressive user base of approximately 300,000 individuals who have registered on our app, and these pioneers will be entitled to a significant share of the rewards.

To express that more clearly, let me rephrase it for you: From the start of our operations in June on Solana, we’ve earmarked 10% of our total token allocation for airdrops to our app users as a token of appreciation for their support. As we expand our presence to both Solana and Arbitrum networks, these early adopters have played a crucial role in testing the app. It is essential to note that we are not distributing tokens to bots but instead rewarding real human supporters.

About Crypto AI Conference

2024’s Crypto AI:CON in Lisbon showcases Europe‘s top event where blockchain and artificial intelligence meet. Often referred to as Europe’s equivalent of Silicon Valley, it’s held at the famous Técnico Innovation Center. Over two days, this conference brings together forward-thinkers, pioneers, and trendsetters shaping the future of decentralized tech.

Set against Lisbon’s vibrant tech landscape, Crypto AI:CON offers a stage to renowned speakers, innovative workshops, and select panels that delve into the fusion of AI and cryptocurrency, uncovering fresh possibilities. Topics ranging from decentralizing data privacy to optimizing AI for DeFi efficiency underscore the event, showcasing cutting-edge applications and global trends transforming various industries.

Over 2,000 individuals hailing from various parts of the world will have the opportunity to engage with top experts in AI and blockchain, as well as investors and startups. This event serves as a unique networking platform that is unmatched. Major industry players like ICP, Privasea, and ICN Protocol endorse Crypto AI:CON, making it the perfect setting for significant discussions and collaborations that will influence the development of the future decentralized economy.

Stay tuned for more transformative ideas shaping the future of Web3!

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2024-12-03 16:33