Felix Xu on ArpaChain's approach to private smart contracts and data privacy

0:24block chain industry a better place with your technology of course actually you know we know that ARPA with a face that we try to make data flow more easily and more freely actually so we use a cryptography method called multi-party computation which is a cutting-edge cryptography you know to basically you know that be it that being able to do private computation on block chains so

0:50right now we have our test net a lie on theorem and we are also making a lot of progress with other block chains so basically it's a computation network that has privacy preserving feature and that enables a lot of applications on public functions and also other price block chains as well very interesting so you're ensuring privacy on block chains but on public block chains are there

1:17privacy issues right now is that the implementations that you're solving mainly on public block chains for companies of course actually so our solution actually works for both under purposes and also individuals so I think you know like one of the biggest issue on boxing right now is privacy so your so we are talking about transaction privacy we are also talking about data

1:41privacy so think about you know my data is can easily be copied and transferred to other places because you know there's no there's no cost for copying the data so that's the biggest problem right now the data industry had you know is facing so our solution is to enable kind of processing of data without even seeing them right so you can think about us as

2:05you know a computation method you know to implement on top of encrypted data right so the data within the competition never being decrypt so that's the you know that's the core of MPC cryptography that's interesting and are you guys yours are implementing this into smart contracts aetherium smart contracts are the most well known in the industry

2:31right now and bitcoin is able to do some smart contracts through some other functions does this help what bitcoin and aetherium the most or is it more so I know you guys are coming out with a main net for the blockchain for ARPA is it mainly focused on ARPA or is this you know a blockchain industry-wide solution there's actually an industry-wide solution so we try to

2:54be the universal kind of IBC computation layer for block chains right so our first kind of test net is released on his Arian right so we use actually a you know a user can use a proxy support contract you know can implement a smart contract and trigger our network to perform privacy-preserving computations for example for example several banks they can search for blacklist in more in

3:23a very secure way without this closing you know the Pretender prospects information and also do not does not disclose each banks back list you know so that we can search for blacklist unencrypted data right so basically you know like we don't have our own blockchain we you know we do we perform as and as a layer 2 solution for other boxing's that's great that sounds really

3:49useful and how long has your team been working on the development for our ARPA and when is the next level of the solution coming out yeah so we are actually not a new project we have been working for we have been working together for more than a year now actually our idea was first generated back in the late 2017 and the core team actually went all full-time back in

4:18April last year so it's been you know a year and half and one month and our you know right now our test net one is live and then you know our men that is supposed to be launched at the end of this year by the end of this year so and Pat died at that time you know we are able to you know we are able to do every preserving our supplying to several

4:45options including aetherium and also oncology and also some other you know leading public auctions that's great and when the men maintenance is launched what are some of the use cases that are practical that could be serving individuals as you are targeting both enterprises and individuals of course yes so individuals is actually a bigger market you know for us to go after right

5:12so think about personal data and how personal data is you know being used and being monetized either these days you know is all by a big enterprises for example the internet Giants you know Facebook and what we try to do is actually we try to build a secure data wallet or a digital asset wallet for individuals you know so that they can actually do the custodian to several

5:39computation knows in our network and then whenever advertiser try to perform analysis on individual data you know they can come to our network and do that analysis in an encrypted form right so basically we enable secure monetization of personal data and we work with more these individuals that you know contribute the data with some tokens and also with you know some the tokens will

6:06also go to the custodian competition nose as well right so that's you know our application to the individuals and right now we are more targeting to enterprises because you know enterprise that data is somewhat more valuable some of the applications that we are doing right now is you know blacklist sharing and also you know and also kind of multi dimension analysis on encrypted

6:33data right so right now our partners include several largest so one largest financial institutions for example Mutual Bank in China and also Alibaba cloud and ensign okay so those are very large companies and we're also very actively going after you know oversea companies and public blockchain is like icon in Korea and also and also you know try to build something on

7:03polka-dot as well very interesting yeah I was just gonna ask what kind of enterprise partners you guys have a tarp on it sounds like you're doing really well can you talk a bit about the business model and how you guys are driving revenues with ARPA are you charging individual clients and individuals on a SAS based model or how does that work specifically right so

7:25currently it's more on a SAS based model you know to enterprises basically you know will provide a solution you know whatever blocks in that had that they have implemented and then we charge additional fee for kind of tech installment and also for per time usage right so for example if you know several banks want to perform like kind of search on blacklist you know they will

7:49kind of pay us with some with some money and then it will be converted into tokens as well right so basically that's what we have right now and for individuals you know it's more gonna be like a person we take a percentage cut you know from all the kind of activities that they try to monetize with their own private data yeah that's great and once the main that

8:15is launched what does the you know one to two year roadmap look like after that in terms of development do you guys still have to build a lot of extra solutions on top of course yeah so we have a lot of applications that can be built on top of our layer 2 solution right so for example you know in finance there's a joint analysis you know financial financial institution risk

8:42metrics and also for blacklist sharing and also for advertising you know you can try to do kind of ROI analysis with our solution but you know like there are other things for example key management systems and also personal data wallet so those are the applications that can be built on top of our network but we'll also partner with third parties and other

9:06developers to you know to make the ecosystem more robust mm-hm that's great and are you seeing customers specifically from different from specific geographic regions or because it's really blockchain related you have customers all around the world and enterprise banks and how big of a problem is this like are there a lot of banks that need blacklist services for

9:28you know blockchain of course we think it's it's kind of a universal need right now we are more focused in the Asia area you know we have business partners in China in South Korea and we are developing also in the Southeast Asia as well but you know like we so actually like two weeks ago I went to consensus and we talked to IBM and also credits Innovation Lab right so they are very

9:54interested in the solution actually like we are kind of go in play going in place with IBM is kind of phase 2 vision to build a secure date marking place right so it's our it's very important for us to go you know global you know of course on the protocol level is you know we support different kind of applications across the area you know that is also

10:19beneficial to our ecosystem as well that's great global is the future so how is your team doing are you expanding the team and is that in prepare preparation for the main net yes actually right now our team is you know we have we have 10 full-time core team members and also five research team members so most of us know has been most of us actually worked

10:49in the work in the u.s. you know two guys used to work at guru and several guys work in the financial institution in fin tech areas right so we definitely have a very kind of a global perspective and also you know we are trying to add more verse and evangelists actually across the area for example we have advisors Palestine facing the u.s. in the west

11:15coast and also we have advisors in India now trying to do some business but business development there as well so you know I would say the ARPA is you know it's a very kind of we focus on the protocol level but on the applications will will provide a lot of support for you know for a lot of teams that's interested in our technology that's great Felix that sounds well

11:42spread out now if people are looking to get involved with ARPA and learn more about it what's the best way for them to learn more sure I think the website you know we our website is our agenda oh we can find it you know on the bottom screen and you know what we have our white paper and also some other informations available there and we also have our

12:04telegram channel and also Kakao group and also you know YouTube channel that you can follow us as well so and for a test net you know you can log in to test test net are watching the i/o to check it out you know we showcase a lot of different kind of algorithms that we developed using multi-party computation so it's a very interesting way to it's very fun it's actually a very fun way to

12:29learn more and to try it out yourself that's amazing Thank You Felix I'll leave the links to that stuff in the description box below and I'm looking forward to the main net release of ARPA and the growth after that and I thank you so much for your time today thank you thank you actually it's you know it's very good you know connecting to you and hopefully you know

12:52you like our project Thanks you