(1) If the value of data is not higher than the cost of storage and confidential computation onchain, it is not a good or appropriate scenario.
As most of the transactions that web3 users have in social and game dapp are clearly lower than the on-chain cost, it limits Litentry's potential for integration with web3 social and game dapps.
(2) Only the scenario having sensitive and valuable user data are worth doing.
I am constantly thinking about which data is worth protecting for users and meanwhile valuable for data buyers.
For example, web2 user data such as credit card consumption records, Taobao / Pinduoduo / Amazon purchase records are most valuable, and of course all these data are manipulated and monetized by web2 companies.
In a web3 scenario, a web3 social dapp is saying that if a user earns a certain amount of achievements in Game A, they can start playing at level 30 in Game B. It makes sense, but they are not very valuable.
(3) What if a dapp collects a user's credit card consumption records, stores them on-chain in AES encryption format, and uses Litentry's ability to generate Verifiable Credentials for potential B-end buyers?
Currently I don't have a clear answer about what user data are most valuable and worth doing. Any comments or suggestions are welcome.
Currently a lot of web3 projects are playing on level2, but Litentry with its sidechain has the ability to achieve level 3.
(1) Integration with blockchain storage services
To enhance Litentry sidechain's data storage capabilities. User's web2 data is encrypted (such as by AES) and stored in public blockchain storage. Litentry generates Verifiable Credentials under user’s permission, while not exposing any privacy information. One use case is web2 user data vault.
(2) Embrace the Ethereum ecosystem
To accelerate interoperability with the EVM compatible blockchains. Litentry should prioritize interoperability with AA wallets to get more web2 users involved and explore unique B-side confidential computation use cases.
(3) Connect with more off-chain scenarios
Such as off-chain KYC service, where the sidechain fetches users' KYC results from, uploads them in AES format to public cloud storages, only user and sidechain share the AES password, and sidechain generates Verifiable Credentials(even in SBT format) for DeFi projects.
Litentry is a platform that helps protect user data and allows them to control it.
Only scenarios that involve sensitive and valuable user data are worth doing.
Litentry aims to achieve true data sovereignty, where users have control over their data through data ownership, encryption, and sharing permissions.
Potential scenarios include integration with blockchain storage services, embracing the Ethereum ecosystem, and connecting with more off-chain scenarios.
Litentry's sidechain has the ability to achieve level 3 data sovereignty.