Kamal Ved from Fetch-ai Network Discusses Data Privacy and The Future of Web 3.0

Hi Kamal, It’s great to have you onboard. Can you please tell us a little bit more about Fetch-ai Network?

I am a technologist at heart who is passionate about deep tech such as blockchain, AI, and autonomous agents. My educational background, a bachelor’s degree in computer science and MBA, along with extensive global work experience at both large companies and startups makes me ambidextrous in both business and technology

I have been part of all the software based evolutions, starting with building enterprise software solutions to power back office applications then moving to the forefront of Web 2.0 consumer applications where I led product management at Amazon’s Createspace company, and now at the forefront of Web 3.0 at Fetch-ai Network where I envision and create new peer-to-peer business models and digital economies. And I have to admit, Web 3.0 evolution is the most exciting as it has a revolutionary flair to it that has the potential of radically changing all the paradigms we have come to accept in the relatively young digital age.

Q.1 How do you ensure the privacy of data within the Fetch-ai Network ecosystem? Are you using any new innovation we should know about?

Fetch-ai Network uses DabbaFlow to ensure data privacy. Dabbaflow is based on proxy re-encryption via smart contract. This ensures that there is a verifiable record on the blockchain of data access and that the users’ data is cryptographically secured.

Q.2 It seems like the next wave of innovation will bridge between real world apps and web3, how Fetch-ai Network can be a part of this transition?

Web 3.0 is aiming to harness the true power of the interconnected web of computers to enable true peer-to-peer digital economies. There will however be a transitional phase where the w2.0 will embrace w3.0 i.e. W2.5. At Fetch-ai Network, we see our role as the infrastructure provider that leverages technologies such as blockchain, multi-agent frameworks, and AI to accelerate development and deployment of such peer-to-peer applications. We believe that our Fetch-ai blockchain network and automation using our Autonomous Economic Agents (AEAs) which can also be leveraged for off-chain interactions (not using the blockchain) will provide highly actionable datasets that can be leveraged by our AI tools to create more advanced peer-to-peer applications

Q.3What are some of the challenges you anticipate in the adoption of your infrastructure? 

Our priority this year is to underline all our tooling to the community of builders. We want to make it easy for them to create their DApps, so they can focus on solving their real-world use cases. We also want to focus on building end-user products that will lower the barrier for non-crypto natives to use our technology. In the coming months, we will also start enabling our technologies within our Fetch-ai Network Wallet. We see the wallet in the same vein for Web 3.0 as the browser is for Web 2.0 and as an important tool to attract new entrants in the space.

Q. 4 Why did you choose to build using Cosmos-SDK? 

The Cosmos SDK offered full sovereignty of the Fetch-ai Network chain while also allowing for modularity in smart contract choices, and they were soon to allow for interoperability through their Inter-blockchain Communication (IBC) bridging system, which we now use. We found it important to scale and adapt the network at the pace that is best for our needs and not require us to rely on external resources or networks with their decision making, which is what the Cosmos SDK offers. It also allowed us to have a closer connection with our community through governance that impacts the network’s future and the validators that support us. 

Q.5 What does the present-day Fetch-ai Network ecosystem look like? What kind of applications are running currently? 

The FET token forms the backbone of the Fetch-ai Network and will be the fuel to power all applications being deployed on Fetch-ai Network. I would like to highlight some key Fetch-ai Network ecosystem projects: Open CoLearn a decentralized federated learning network, Dabbaflow a decentralized privacy-preserving file-sharing application, Fetch-ai Network app for unlocking peer-to-peer digital economies, Mobix a Move2Earn app, Resonate Social an AI-powered social media app, BotSwap a DeFi automation app, and Mettalex a decentralized commodities derivatives exchange. Beyond this, we are also collaborating with many large enterprises on multi-stakeholder and multi-year projects that will leverage many of our technology components. We also have many new exciting applications that are going to launch in the next few months.

Q.6 What’s your advice on building during a bear market?

We will continue to focus on the fundamentals and build the products we have envisioned rather than be distracted by the market swing noise. If we build products and technologies that solve real problems then there will be a demand for our products no matter the market conditions.

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