Bright Network is built on an open Autonomous Data sharing protocol. It combines cryptographically secure Data Vaults with an open ecosystem of services to enable the creation of disruptive new data sharing economies.
Bright Network is being developed to be independent of use-case, so anyone can build on top of the Bright Protocol to access trusted data and data services through Data Vaults.
Bright Labs is the team responsible for building the first services and dApps on the network. By leading the way, Bright Labs will help bootstrap a developer ecosystem and provide guidance on how our open protocol can be used to build a new generation of financial services.
By using blockchain technology, access to Bright Network is not constrained to a central arbitrating authority. Fees for consuming data or services are governed by Bright's Open Protocol, allowing new markets and economies to emerge.
By opening up new sources of data to FinTechs, NeoBanks and other financial service providers, new modelling techniques can create powerful new tools. Bright Network is designed to facilitate machine learning on private data. Bright Labs is already pioneering research in this field.
Bright Network empowers businesses to earn money for the use of their data and empowers service providers to sell their data services to the network. All payments in the network use smart contracts to automate fee collection and distribution. By tokenising network usage and taking a small fee per interaction, the network is able to pay for its ongoing development which is owned and operated decentrally.
Read our Technical Paper which explores how we use cryptography to store, verify and share private data