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Jesse Liu, secretary of global strategy at the CyberVein Foundation, said CyberVein’s data analysis and evaluation engine, or DAVE, plays an important role in shaping smart cities at Cointelegraph China’s Hub event on November 19.
According to Liu, smart cities are hyper-complex data production systems that rely on constant interconnectivity and data exchange. CyberVein’s proprietary technology is a big data solution based on a private, interconnected, secure and robust distributed database.
The company focuses on customized “blockchain plus big data” services at the enterprise level. The company predicts that more traditional services will go digital and fit into the overall interconnected network of a smart city. Purchasing, logistics and delivery services are becoming increasingly user-centric and, in turn, more digital, based on an individual’s behavioral data.
CyberVein’s DAVE focuses on delivering value to its members – data-intensive businesses. Liu revealed that DAVE Alliance offers three main solutions:
- Data storage or computing power marketplace, where users can purchase resources, using CyberVein’s CVT tokens.
- A data derivative pool where users can purchase data mining derivatives and big data concepts.
- A decentralized token exchange where users can exchange tokens of associated companies directly with each other.
In the initial phase, DAVE Alliance will invite five central administrators and three founding governors. The five central managers must come from the four major technical fields of storage, database, computing power and algorithms and must be leaders in their respective fields, capable of providing support for technical iteration or supply and demand of data.
The three founding governors are responsible for the foundation’s director of management, the alliance’s director of ecological development, and the alliance’s director of technology operations, respectively.
At the moment, the first members are still being screened, such as Waves, Celo, Tron, Ontology, IoTeX, Movieblock, etc.
CyberVein is building a lightning-fast PISR database and direct acyclic graph storage chain, which further increases the data throughput per second. The company uses the DAG storage chain to create more secure data storage and increase efficiency. With DAG, no confirmation of the block is required. Users benefit from low transaction fees as mining is not required.
DAVE’s goal is to continually deliver value to member companies and individuals eager to pool their resources in an effort to monetize their data. At its core, DAVE propagates ownership and data security. This initiative is in line with CyberVein’s vision of solving three main problems in the big data space: information silo, data ownership and security, and data monetization.
According to Liu, the People’s Government of Hainan Province assigned CyberVein the role of technology leader for the Wenchang Smart City project. CyberVein’s proprietary big data technology will be used as the core platform, ready to be integrated with other partner applications.
Typical applications of CyberVein include medical, financial and smart products
Liu said that CyberVein has always believed that the healthcare sector will be the second largest application scenario for blockchain technology after finance.
CyberVein took the lead in completing the medical technology landing. CyberVein’s developed DAG storage chain, PISR database and federal learning have made strides in intelligent medical ecology, intelligent diagnosis and treatment apps, as well as in the implementation of different application cases.
The company has completed the research and development of an online medical assistant app with the Zhejiang University Network Security Research and Development Center. CyberVein’s blockchain database has provided services – registering, requesting, archiving and prescribing medications for patients – accomplished the sharing of medical records between ecosystem hospitals and enhanced the medical experience.
AIA Group, as one of the first CyberVein members of the DAVE Alliance, has obtained a large number of legal and compliance data sources by joining the alliance. In terms of smart product cases, Jinshan Cloud and CyberVein reached strategic cooperation.
Cybervein has linked its DAG storage chain, PISR database and federal learning technology to Xiaomi’s AI and IoT platform, supporting app access, control, smart applications and new retail channels of its store. online, Mijia.
CyberVein was founded by the Singapore CV Technology Foundation in 2017. CyberVein’s vision for the future of DAVE can be an open source DAVE that can be used to build smart cities around the world.
CyberVein aims to tap into various fields, such as future smart cities, digital government, urban decision making and governance, future community, vertical application and other fields to create a new model of smart cities nationwide and across the globe. ‘abroad.
