Bright Network is built on an open Autonomous Data sharing protocol. It combines cryptographically secure Data Vaults together 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 technology of Data Vaults, trusted data and data services.
Bright will be building the first services and DApps on the network, developing an unsecured lending platform utilising small business data for machine learning credit risk analysis.
By using blockchain technology, usage and development of Bright Network is not constrained to a central arbitrating entity. Payments and fees for using data or services are enabled through cryptocurrencies and tokens, where new markets and economies can emerge.
By opening up new sources of data to industries traditionally lacking in reliable data, new modelling techniques can create powerful new tools. Bright Network is built to facilitate machine learning on private data. Bright will be pioneering research in this field.
Bright Network empowers users 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 decentrally.
Read our Technical Paper which explores how we use cryptography to store, verify and share private data