An update from Hut34
Some headlines on hut34 progress over the past months and an exciting announcement.
First we must acknowledge length of time between updates - this is our failing and for that we apologise - mea culpa.
We have not however been idle, in fact the opposite, making substantial progress on the original vision of the Hut34 project.
It will be difficult to update on all developments in a single tranche, so rather, we thought we would provide some headlines, then in the weeks ahead will dive into each to provide more detail.
Development
Product development has been continuous and iterative - with a small team and resource we continue operating at maximal capacity.
Our primary focus continues to be development of our ecosystem and “datahut” platform; a toolset to allows users to discover, buy, sell and share and store data assets using ethereum, ipfs and our own hutX protocol.
It has been a challenge balancing the needs of the blockchain community with what we would call "traditional" users, both of whom are interested and can benefit from our datatech - the competing, sometimes conflicting, requirements of these stakeholders has to some extent impeded product progress.
As a solution we have implemented split development streams, which although interrelated, require slightly different focus;
Firstly the “Public datahut” - a fiat based data market powered under the hood by all hut tech, including $ENTRP tokens - this use case opens up our technology to a huge user base, accruing benefits to all participants in the hut ecosystem.
Secondly the “Enterprise datahut” implementation focuses on organisational adoption; allowing users to securely share and track data assets, and create and monitor internal data economies. Same ecosystem benefits as Public dataHut apply here.
Finally , and most excitingly, the soon to be released 100% $ENTRP powered open data marketplace, "theAgora" (More details on this below)
Implementations
On the user front we are both delivering outcomes and increasing adoption velocity. Some headlines:
Partnership with genobank.io - Genobank collect genetic data and are using Hut tech to create data wallets for users to maintain self sovereignty over their data - we expect a lot of opportunities to arise from the medtech sector.
Partnership with Macquarie University - Providing a research dataHut for the development of a pre-clinical assessment test to detect the early signs of dementia, known as the SToRE test. Researchers and users are able to interact with the hutX protocol, and all the benefits of the blockchain technology, without requiring advanced skills or training of any sort.
Partnership with UCL - Similar to the above, providing a research dataHut, and a custom collection app for the assessment of the intellectual and academic development and potential of people diagnosed with disorders such as Aspergers and Autism.
Implementation of dataHut technology with actuarial consultants for the purposes of secure data sharing and tracking across high value insurance data - again we expect a lot of opportunities to arise from the insuretech sector
An exciting exploration of cutting edge data privacy technology for integration into our dataHut with Australia’s leading, government backed data science laboratory CSIRO Data61.
We are very excited about the imminent release of theAgora and the opportunites it will present for growth in the hut data and $ENTRP ecosystems.
theAgora will be a permissionless global data marketplace where users can buy, sell, request and securely store data assets - powered by ethereum, IPFS and our hutX protocol.
As a 100% token powered data exchange the $ENTRP token will serve multiple purposes; including token staking for data validation, a payment mechanism and a rewards mechanism for a range of ecosystem accretive actions - We will cover this in more tokenomics details in the weeks ahead
We have been watching closely the development of a range of tokenomics models - over and above a simple “utility token” model - and are excited about increased awareness of incentive based system (like liquidity mining rewards) - tokenised incentives are something we have strongly believed in - and were a key motivator for including a token in our data ecosystem at inception. We believe the market is now starting to realise the value this approach brings to creating new ecosystems so this is an exciting development and opportunity.
We look forwards to updating you more on launch dates. Be sure to follow theAgora on twitter or join the discussion on Discord
If you want to find out more about how Hut34 is solving data problems, dont forget to follow us on twitter or if you have any questions please email the team.
Thanks again for your support.
Onward and Hutwards
The Hut Team