In the first successful integration of blockchain and Multiparty Computation (MPC) technology to power a decentralized social media platform, Partisia Blockchain, a Web 3.0 platform built for trust, transparency, and privacy, has joined forces with global market research provider Insights Network, to officially launch Instars.
The unveiling of the blockchain-powered social network signifies a nearly four year effort to facilitate the creation of the first truly decentralised architectural solution that ensures transparency and returns control of data to the consumer.
A pioneer in the space, Partisia Blockchain was founded by Partisia, the world-leader in commercial applications of Secure Multi-Party Computation, who have been bringing cutting-edge commercial-grade MPC software solutions to global enterprises since 2008. By combining MPC and blockchain, Instars is a transparent and secure social media platform committed to protecting users’ data and personal information. This unique combination makes it possible to enforce the exchange of data and payment between the provider and the requester of data without third-party involvement.
The Partisia Blockchain team counts a number of well-known industry luminaries among its ranks, including world leading cryptographers, developers, and entrepreneurs. By leveraging Partisia Blockchain’s industry leading technology to run this platform, both organizations are paving the way towards a social media ecosystem that ensures the users of the platform have control over their own data, while enjoying the benefits of being able to monetise it themselves. This platform also facilitates a built-in blockchain and MPC powered ad network, which allows advertisers to target ads to certain demographics without the use of databases, which ensures the privacy of all users.
Kurt Nielsen, Co-Founder and President of Partisia Blockchain, said, “The transparency and trust of blockchain, paired with the privacy preserving capabilities of MPC technology, have enormous potential to safeguard consumer data, especially on social media networks, where it is needed more than ever. By ingratiating our commercial grade MPC and blockchain technology through Instars, we are demonstrating our dedication to placing the ownership and sovereignty of data in the hands of the users, not in the hands of data hoarding conglomerates. We are excited to be working so closely with Insights Network on this project, and look forward to enabling future developments in the space.”
Brian Gallagher, Co-Founder and CEO of Insights Network, said, “Using MPC and data oracles to decentralize the management of user data is at the core of what we are doing with Partisia Blockchain, and this integration could not come at a more crucial time in the industry. In building the world’s first user empowered secure network, we discovered that over $200 billion of data is exchanged each year in an unfair and non-transparent way, and a substantial portion of this comes from the practices of social media giants. Instars is the antithesis of these practices, and we look forward to working with Partisia Blockchain to develop this exciting ecosystem.”
Become a subscriber of App Developer Magazine for just $5.99 a month and take advantage of all these perks.