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Fractal Protocol

The Fractal Protocol is leveling the data economy playing field by empowering users and businesses to transparently share high-quality data.
Before diving into the Protocol, we'd like to emphasize that Fractal ID, Wallet and Protocol form a cohesive whole and work in unison towards realizing Fractal’s vision of a data and identity infrastructure in which control and ownership over data remain in the hands of its originators: Fractal ID verifies underlying personal information, based on which it issues credentials stored locally in encrypted form by the Fractal Wallet. Fractal Protocol then enables the use and exchange of credentials and other user information stored in the Wallet.

What is the Fractal Protocol?

The Fractal Protocol enables users to control who has access to their data, for which purposes, and under which conditions. For example, Fractal Protocol users can be rewarded in FCL tokens for allowing clients to use de-identified, abstracted versions of their data.
The questions underlying the development of the Protocol are: how can we allow users to monetize or otherwise benefit from their data, without breaching their privacy and while respecting their data use wishes? The Protocol achieves this using three interconnected strategies.

Multichain Decentralized ID (DID)

Fractal’s ID and Protocol allow data to be stored across different chains for a completely decentralized approach to ID. At the basic level, this means that dApps can access user data published on-chain with the user’s explicit permission and encrypted in the proper way. For example, this allows a dApp to check the user’s country and make sure they are offering their service to the customers they intended in the way they intended.
For advanced use cases, dApp developers can read and write arbitrary data (again, with the user’s permission).
Even if Fractal disappears tomorrow, all of the data would still work as the protocol is cross-chain. Even if a chain is compromised, others could still be used to continue operations. Our overall goal is complete data centralization, and that our partners and users must be able to operate even without us to take advantage of the plethora of opportunities that the Web3 ecosystem provides.

Generic Cross-Chain Data Storage Technology

At heart, the Fractal protocol aims at enabling the secure, rapid, and privacy-preserving exchange of data. A key element of such an exchange is the ability to transfer information across chains.
For example, you might want to share your successful credit history from a Polkadot DeFi project with an ETH-based lender. Perhaps you wish to share the build of your computer with a computer parts shop to check for compatibility and upgrades. Or you might be asked to verify personal information for KYC purposes. In each case, a mechanism to facilitate data exchange between different repositories or chains is required. Over the coming months, our focus will be on enabling applications across different chains to communicate and share data seamlessly with each other.

Shaking up the AdTech Space

The current version of the internet is powered by user data. As each of us navigates the web, we leave behind traces that can be collected and used to infer details about us. This data is valuable in several ways. It can be used by advertisers to target their offerings more precisely. It can be used to train artificial intelligence algorithms to make better inferences. It can be used to figure out information about us.
Who, though, stores these datasets? In the current instantiation of the web, it is neither you nor me. It is large, oligopolistic companies such as Google, Amazon, or Apple. These companies do not create the data they sell – we do – yet they are the ones benefiting from the traces of our online behavior. Apart from worries about privacy, this is deeply unfair from an economic perspective. We are the ones creating these data. They describe us. We should be the ones benefiting from, and deciding on, their further use.
Fractal Protocol allows you to store your internet use data locally and securely on your device. In doing so, the Protocol gives you sovereignty over your data: you get to decide how and whether your data can be used.
To incentivize data sharing and provide just rewards, the Protocol enables users to exchange access to their data for value in the form of the Fractal native token, FCL. Data stored by Fractal users is only shared when consent to do so is given by the user. This consent can be specified as only applying to some subsets of data or for particular uses under certain conditions. Users also have the option of specifying the prices at which they feel comfortable allowing access to their data.