"No Data Beast in Development Here"
Revamped Write-up:
Hey there! Let's dive into chattin' about Dwinity, a fascinating startup based in Grünwald near Munich, focusing on securely storing and efficiently utilizing data from millions of individuals, primarily for research purposes. Y'know, stuff that's, uh, kinda sensitive. As Christian Mangold, the CFO, puts it, "Trust is the name of the game."
Unlike many other data storing services, Dwinity doesn't rely on the cloud, but rather on a decentralized network. "We ain't buildin' another data silo," says Mangold. In this way, data control stays in the hands of the users.
Robin Basu, COO and co-founder of Dwinity, adds his say: "Data's value ain't just for us—users oughta benefit too." They aim to create a community where users gain financial rewards from their data. Dwinity's got over 40,000 members worldwide already swingin' on their bandwagon.
Transitionin' to the commerce side of things, the company employs blockchain technology, powerin' analysis via AI. This predictive AI, which speeds up and improves the precision of data analysis through machine learning, is just the start.
Mangold shares they're currently commercializin' their prototypes and buildin' the infrastructure for long-term data usage. They're teamin' up with tech partners and early users to make this happen. Sectors like healthcare, insurance, and finance are prime targets for application.
One example is Streifeneder, a tech-savvy prosthetics manufacturer in Upper Bavaria. With Dwinity's system, they can easily collect user data, like weather, humidity, and step count, via a nifty app. This data helps them improve their products, and don't worry, users' personal data ain't shared—it stays protected and private.
There's also talk of a collaboration between Streifeneder and Dwinity, creatin' an interface combinin' their technologies. Sounds like a match made in cyberspace.
Another potential use for Dwinity could be electronic health records (EHR). However, due to specific regulations and logistics, Germany ain't the best fit, but smaller countries might just work. They envision the user, not the government or insurance company, maintainin' data sovereignty.
The company's only got one source of income, the sale of tokens. Mangold admits they might attract a tech-savvy audience first, but as time goes on, that'll change. They aim to reach 7 million users within two years, achievin' operational profitability at that point.
Lastly, they Recently completed a seed funding round raisin' $2.4 million. Investors from across the globe hopped on board, and for their Series A round, they're targetin' between $3 million and $8 million. This cash will go toward developin' and trainin' AI for Dwinity's solutions, with talks currently underway with various venture capital firms. Expect the funding round to close sometime between February and March next year.
In summary, that's what we know about Dwinity, a startup pushin' the boundaries of decentralized data storage and AI analysis. They're aimin' high, completin' research and development, and lookin' to collaborate with key players in their target industries to further integrate their technology and drive innovation. Keep an eye on 'em!
- Dwinity is employing artificial intelligence (AI) and blockchain technology in their commerce strategy, aiming to create a community where users can benefit financially from their data by selling tokens.
- In the realm of data-and-cloud-computing, Dwinity differentiates itself from other services by not relying on the cloud, instead opting for a decentralized network, ensuring data control remains with the users.
- As they commercialise their prototypes and build infrastructure for long-term data usage, sectors like finance, healthcare, and insurance are prime targets for application, with potential collaborations already in discussion, such as the one between Dwinity and Streifeneder in Upper Bavaria, for improving electronic health records (EHR).
