FAQ

The Jupiter Chain project is a Smart Consentable Data Exchange platform that aims to create a privacy-preserving federated blockchain which enables the use of analytics. Data owners control their data and provide access to receive tailored services. The first use case will be for smart contract as a credit assessor and second as a data subscription services.

 

Jupiter Chain is a blockchain project by JEDTrade.

Jupiter Chain is made up of a team of experienced ex-bankers and tech experts in the areas of cryptography, blockchain, PKI and cybersecurity.

To learn more about JEDTrade, please visit https://jedtrade.com

The idea behind Jupiter Chain is far sighted. As we are towards an age where transparency and connectivity rules all, it is also a time to look into decentralisation as well as at the expense of visualising a new data economy whereby data can be exchanged for the betterment of analytics in a privacy-preserving way benefiting both data users and data owners.

There are two types of data, identity and transactional data.

Identity data is sensitive and should be stored by secured and trusted identity verifiers on the network. Examples of identity verifiers could be utility companies, financial institutions or government agencies. They are required to host a server that connects to the network.

Transactional data are stored and replicated across all nodes on the local blockchain. This data will be encrypted and decrypted only with the user’s consent.

Yes, there are two key use cases. One if data is consented for assessment. For example, if a loan is requested. Access will be given to receive tailored services. This use case may not necessarily entail a token exchange. The aim is to do this assessment in a privacy-preserving way. The second use case is to deploy a smart contract as a data subscription service. Here the contract will directly pay out tokens to participants. Data is collected at a massive level and anonymised. Data owners can decide if they want to participate in the provision of data.

Data in the local blockchains are stored in the with trusted ecosystem partner nodes. These transactions would be low payload like bitcoin transactions. The mainchain will not replicate the local ecosystem transactions.

Sensitive data will be encrypted before they are placed on the blockchain. This is only decrypted when the data owner gives permission.

At present, to facilitate the crowdsale process until the development of our own blockchain, JUPT will be built on Ethereum, ERC20 implementation

Token swap date is anticipated to be around Q3 2018. The ERC20 JUPT tokens will be committed to a dedicated smart contract (locked up) and the equivalent will be issued on the Jupiter Chain’s public chain.

Commercialisation will start with the Token swap. Financial institutions and merchants who have come onboard will start enabling transactions and data collection on the Jupiter chain with JUPT

An infrastructure platform that allows the freedom to share data of each individual in a privacy-preserving manner and to allow tailored services to be push across individuals that best need it by creating a reputation based identity build upon AI and machine learning.

There is no public sale, Jupiter Chain will be privately funded. We are still open to partners or funds who believe in this project and wants to come on board.

There are many similar projects out there at the moment that are focusing on decentralised identity management and data blockchain projects. However, what we are building incorporates the use of a federated blockchain model where networks of networks can interact in a privacy-preserving manner; with the aim of revolutionising the current data economy. There are similar models out there, but we are focused on catering to our use cases which concentrate on delivering a scalable solution on a federated blockchain model (read whitepaper for a discussion on that). We are looking at providing value-added assessment services using the data and exploring privacy techniques. Less focused on the commonly targeted marketing use cases.

There are several projects in this space and I believe we are all doing good work in progressing the research and development of blockchain data platforms.

Jupiter Chain’s design is first and foremost focused on enabling our use cases. These are based on ecosystems with trusted partners providing validated data. We believe that having our own public mainnet will not only allow for the transfer of data and value across the different use cases but also will have less friction than a general-purpose public blockchain.

Our research focus which is what most of the funds raised will go towards is to develop privacy-preserving analytics where there are no custodians of data other than the data owners themselves. We believe that this will be the key enabling factor towards a new data economy where data privacy regulations are met and a level playing field for all.