We’re excited to announce that DBC member Josh Robinson and his associate, Leonard Kish, have released the initial whitepaper for YouBase, an individual-centric cryptographic peer-to-peer data store!
Just as bitcoin is revolutionizing the financial industry by decentralizing money, YouBase promises to revolutionize the data industry by putting data back into the hands of individuals. Companies like Google, Facebook, and LinkedIn have proven the success of mining people’s private data to drive better decisions, but they’ve done so in a way that keeps them in control and allows them to sell it to third parties, while blocking the individual himself from analyzing the data and reaching a better understanding of his own life. Additionally, an enormous amount of very private but extremely valuable data, like medical and financial records, is lying around gathering dust because its release would compromise the security of the individuals it describes.
YouBase’s solution to these problems is to structure the data hierarchically, encrypt it, and put it somewhere public. Then, using BIP32 HD wallets coupled with public/private key encryption, allow individuals to control third-party access to all levels of their own data, reserving “top secret” access just for those individuals or organizations that can be trusted with personally identifiable data, while sharing anonymized or insensitive data freely or for a low price. Finally, use a completely decentralized storage network (IPFS is recommended) to host the data, so data persists forever but is uncensorable and unreadable by anyone not given explicit access.