Why Yaident?
What is it all about?
What is Big Data?
Big Data describes the capture, processing and analysis of enormous amounts of data from various sources. These data volumes exceed the capacities of conventional databases and analysis systems. Data streams at ever-increasing speeds from new data sources such as sensors, social media or transactions. The variety of data structures from audio to video to unstructured texts is constantly growing.
The 5 V's of Big Data
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Volume - Enormous amounts of data from many sources
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Velocity - High-frequency generation of new data sets
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Variety - A wide variety of data types and structures
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Veracity - Increasing data complexity and uncertainty
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Value - Generating valuable insights from the masses of data
Potentials: Enhanced business insights, process optimizations, product innovations.
Challenges of Big Data
Data Silos & Lack of Data Sharing
Large amounts of data are often stored separately in different systems and data silos. Data exchange between systems, departments or companies is limited. Integrated analyses are impossible, the potential of the data remains untapped.
Poor Data Quality & Duplicates
Due to the separation of systems, redundancies and inconsistent data sets arise. Incomplete or faulty data make meaningful analyses difficult and impair data-driven decision-making.
High Costs for Data Storage & Integration
The storage, management and integration of growing amounts of data from various sources incurs enormous costs for infrastructure, software and personnel.
Data Protection and Compliance Risks
The more personal data is collected and exchanged, the higher the regulatory requirements become. Compliance with data protection regulations is a major challenge.
The Self-Sovereign-Identity
Concept of Decentralized, Self-Managed Identities
Self-Sovereign Identity (SSI) allows individuals and companies to have full control over digital identities and data sets. All relevant data can be securely and tamper-proof stored in an ID wallet.
What is an ID-Wallet?
A digital ID wallet serves as a decentralized identity management system for personal and business data sets. All data such as certificates, credentials, contracts, etc. can be stored in it. Via controlled releases, third parties can be granted temporary or permanent access at any time.
The Networking of Data Silos
Yaident acts as a platform on which data owners can contribute and link their data records from ID wallets and other data silos in a decentralized manner. For the first time, a holistic big data source is being created from previously separate data silos.
One Master Data Set
per Data Owner
At Yaident, there is a single consolidated data set for each natural or legal person ("data owner"). This can be selectively segmented and made available for different recipients or purposes.
Advantages of Yaident's
Data Integration
Highest Data Quality
& Consistency
Highest Data Quality & Consistency Since each data owner has the sole source of truth for their data sets, redundancy is avoided. Data remains up-to-date and correct across all recipients.
Enabling Data Monetization and Innovation
Monetization & Innovation Completely new possibilities for controlled data monetization and data-driven services emerge for companies via Yaident. Innovative business models are enabled.
Cost Savings
Cost Savings By consolidating data on Yaident, costs for redundant data storage, system integrations and manual quality assurance are eliminated.
Data Control Sovereignty
for Owners
Data Control by Owners Yaident's decentralized architecture gives data (co-)owners full decision-making power over releases and access rights to their data sets.
Ensuring Security and Transparency
Security & Transparency Blockchain technology ensures that data transactions remain tamper-proof and the historical origin can be traced in a privacy-compliant manner.
Scalability & Future
Functionality You Will Love
01
Edge Computing
The processing of data streams takes place decentralized and closer to the data source ("Edge"). Yaident integrates Edge gateways for reconciling decentralized identities.
03
Data Sharing Economy
Based on shared and interconnected data sets, new platform business models can be developed for collaborative data innovations such as Data Analytics-as-a-Service.
02
Single Source of Truth
For organizations across all industries, Yaident will become the central source of data availability across all third parties, partners and customers.
04
Sustainable Infrastructure
Decentralized data storage on Yaident and efficient reconciliations scale almost indefinitely with the exponential data growth in an interconnected world.
