Earlier this year, we launched the private beta of the AllianceBlock Data Tunnel. This product is a marketplace for data sharing, analysis, integration, and monetization between individuals and businesses without a centralized intermediary. The goal is to form the technical bedrock of a new data economy by encouraging businesses of all sizes and sectors to submit the data they generate. This will allow users to find and use different types of data from various sources without relying on any particular organization to access it.
The Data Tunnel’s data pool is constantly growing. In recent months, we have announced partnerships with business intelligence giant Crunchbase and crypto exchange MEXC Global. Both will host selective data on our decentralized marketplace. A strict data privacy policy is necessary for financial institutions and firms in other highly regulated industries. One of the key barriers to getting them on board is the legal restrictions arising from data privacy regulations. This means that potential value and insights that would be locked in these institutions’ datasets could not be shared for legal reasons. Aside from this, users wanting to use machine learning to learn from data are often held back by a lack of data points on specific topics and conditions.
Today, we solve this challenge and open up the Data Tunnel for a richer data marketplace by announcing a partnership with Datomize, a synthetic data solution provider. The partnership will allow Datomize to bring its state-of-the-art data replication and synthesization tools to the Data Tunnel. It will also allow all users to harness Datomize’s options to anonymize, expand, and augment datasets. This will add an optional privacy and experimentation benefit to our data solutions that will allow more users and institutions to access our product while a lower initial investment is needed.
AI-Powered Data Privacy Opens Up New Institutional Use Cases for the Data Tunnel
Using integrated tools from Datomize, Data Tunnel’s users can create a synthetic replica of a dataset that keeps the same key statistical and demographic characteristics while excluding sensitive or personal information such as names, contact details, or social security numbers.
In cases where datasets are biased or incomplete, users can expand them using probabilistic, AI-powered tools. This will allow Data Tunnel users to gain insights from synthetic datasets that retain the characteristics and trends of real-world data while ensuring compliance with relevant data privacy regulations.
By using the technology of Datomize, our users can create more training data for their models (Replicate), improve the quality of the data of their datasets (Recharge) or synthesize new data inside their dataset so that it can generate new insights (Reinvent). Here is an overview of Datomize’s features and how they accelerate the use of Data Tunnel:
Replicate: AI-powered data generation tools to generate high-quality synthetic data that improve the quality and variety of existing datasets. This means data publishers can now submit their data without privacy concerns. They can also create additional data based on the original.
Recharge: Specialized tools to enhance the quality and variety of training data for machine learning models. This means that users wanting to use incomplete datasets that they see potential in can now use machine learning models to fill out the gaps based on existing information.
Reinvent: Dedicated features to reconstruct and augment existing datasets to overcome bias or gaps in existing data. This will allow users to test different scenarios and hypotheses by combining various data sources.
AllianceBlock Co-Founder and CTO Matthijs De Vries said “Data is the fuel that powers new ideas and drives good decisions. But anyone who has worked in data science or analytics knows how hard it can be to deal with incomplete or skewed datasets. By partnering with Datomize, we will empower Data Tunnel users to fill the gaps in their data, unlock new possibilities, and uncover insights from machine learning.”
Datomize Founder and CEO Avi Weiss added “Information is at the heart of every economy and when data is more openly accessible, it leads to more innovation and growth. Partnering with AllianceBlock was an obvious choice as we share a common vision of a transparent, open and compliant data economy that preserves user privacy”.
About Datomize
Datomize’s synthetic data solution accelerates and streamlines the development, training and testing of AI/ML models and applications that drive business growth. Datomize preserves the behavioral features of the original production data without violating personal privacy regulations to speed up the time to market for new products and services and rapidly generate insights that drive digital transformation. Providing the speed and scale required by global financial institutions and highly regulated industries, Datomize processes highly complex data structures with multiple dependencies and is fully scalable to process thousands of tables and millions of records. Datomize enables enterprises to rapidly release new services, move analytics to the cloud, integrate third-party solutions, and glean insights from AI/ML models to become market leaders. For more information, visit the company’s website at www.datomize.com.
About AllianceBlock
AllianceBlock is an infrastructure provider for decentralized tokenized markets. It empowers businesses with liquidity provisioning and allows them to compliantly issue, manage, and trade tokenized, digital assets including real-world assets (RWAs).
The AllianceBlock ecosystem of partners, clients, and ventures consists of top stakeholders from the financial industry, as well as the decentralized finance (DeFi) sector. Their unique product suite complies with global regulations and seamlessly integrates with legacy systems.