The world adopted blockchain technology for a wide range of applications where transparency, integrity and verifiability are all features that a use case needs for its functioning and also happens to be something that a public blockchain can provide. Use Cases with strong new token-economies are specially the strong cases that blockchain has able to prove itself in.
However, looking at a wider range of sectors and markets, we can undoubtedly say that only a small fraction of projects have a visible path for becoming a decentralised application. Reason behind this is the underlying single ledger technology which can excel when it comes to public information and transparent executions but cannot at the same time ensure privacy, security and cheap transactions. The problem is the single ledger itself which as a protocol works in a straightforward way to maintain the source of truth with everyone in the network despite many of the participants not having anything to do with the knowledge/information/records itself.
While the single yet distributed technologies will continue to scale and expand, they are not designed for the purpose of applications such as Uber or Airbnb. Current P2P technology can provide for a token economic model to be present in a transparent manner, but cannot represent the actual services exchanged between the involved parties. This is due to lack of:-
- Missing privacy in distributed technology for public use cases.
- Missing technology which allows secure yet verifiable private data sharing between involved parties.
- Missing a decision making framework(like smart-contract from blockchain) which can function upon the selective data so as to only create a consensus between the involved parties in a service.
- Missing mechanism to provide and confirm identities of individuals/organisations which works in pure P2P mechanism and only conforms to demand based sharing and verification without having to compromise or expose the credential itself.
- The capability to abide by the understood compliances and regulations that a participant on a public wide platform can participate without compromising any trust.
Why Decentralised Applications need our attention?
Currently the services provided by modern applications are all centralised and it is this concentration of power, monetization and authority that can actually be replaced with the technology itself, keeping the reliability still intact and allowing the funds to flow strictly from a service producer to a service consumer. This would benefit the ecosystem immensely and cut the need for large scale companies to dictate the market.
A pure peer-to-peer technology would benefit the customers and the service provider of any industry and hence, should boost its ecosystem keeping the transaction of service and funds in between the involved parties only.
Innovations to Mention
In the last decade, there have been major innovations on technologies such as Trusted Execution Environment(TEE) based executions, which have been developed independently for the purpose of secure executions.
This has paved the way for trusting the remote machines for intended execution.
The true future of decentralised applications is pure decentralisation, where there is no need for a common ledger and still secure, verifiable executions can exist in a network.
How Zeeve SCAPE paves the way or future of Decentralized Apps?
Zeeve SCAPE focusses to bring the majority of applications to light which otherwise would be impossible with public single distributed ledgers. Currently, distributed technologies which rely on a single common ledger cannot provide the secure execution and privacy on such a grand level that everyday applications can benefit from.
The blockchains to today, if combined with Zeeve SCAPE can benefit from this to support all kinds of use cases that can not be picked up otherwise.
This is possible with some targeted features that Zeeve SCAPE provides:-
- A decentralized Identity that combines a person’s KYC along with the device’s TEE identity.
A device’s TEE identity component would allow distributed applications to perform secure data exchange and execution without compromising the security. While the KYC identity component would allow the use cases to benefit from who they are, service and if a person/organisation the identity represents can be allowed for certain action/service or not. A person may hold multiple Device Identities and hence, hold multiple “Z Identities” but in principle a Z identity would always represent a person or an organisation. Hence all applications where regulations and compliances are a must, the technology shall be able to hold this without any need of a central party.
- Secure data sharing between the devices with trust that the data is only available to the required computation logic and no software or human can ever have access to the decrypted data. This is done through the TEE based execution, which would prove data authenticity remotely with the help of TEE.
- Zeeve SCAPE allows secure computation upon the data which also takes place inside the TEE and provides a framework for the involved participants(human + device) to come to a common agreement(consensus, but only among the involved parties) to trigger an exchange of service and funds.