Cere Network wants to compete with traditional cloud service providers and emerging centralized database companies to protect user data security and privacy.
Written by: Zombit
Do you worry that your data will be misused by big companies?
The cloud storage market is growing day by day. For example, Amazon, Google, Microsoft and other giants occupy the bulk of the cloud storage market. This means that when companies store or analyze and commercialize user data, Internet giants have become intermediaries, and this intermediary is not currently under complete supervision. The abuse of user data by Internet giants is no longer a “cold day”.
For users, personal data storage in giant companies has three shortcomings: lack of data privacy, no data management rights, and high management fees. Developers who optimize the use of user data have very limited options. They can only develop in the “narrow space” delineated by the giants. This not only restricts the space for developers to diverge, but also keeps the development cost of entrepreneurs rising.
Image source: Cere Network Blog
Therefore, increasing the flexibility of developers while creating the greatest benefits for enterprises and users, and using the decentralization of the blockchain to erase the role of “middleman” has become one of the few methods that can change the status quo.
And Cere Network is keenly aware of this opportunity.
What is Cere Network?
Cere Network is the first Decentralized Data Cloud (DDC) built on the Polkadot chain, aiming to optimize data integration and collaboration.
The operating logic is that anyone can participate in Cere Network’s DDC, and its “Open Data Registry” (Open Data Registry) architecture allows users to define the “degree of data sharing” by themselves, thereby helping developers unleash the power of data.
On top of this infrastructure, Cere Network has created a service layer that can achieve a high degree of interoperability. This layer will be open to all vendors and developers in the near future. For end users, they have a considerable degree of personal data. You can also clearly know where your data is used. In addition, Cere Network will also help companies deploy “compliance development tools”, allowing them to use data while still ensuring that the rights of end users are not compromised, thereby creating a win-win situation where end users gain control over data With the framework of empowering and liberating developers, enterprises can avoid paying huge expenses while using data flexibly.
Therefore, Cere Network is no longer just a toB business that provides cloud data services for enterprises in the traditional sense. It also provides toC services. It can use the data of C-end users in a reasonable and compliant manner to protect privacy while serving users. Bring economic benefits.
Image source: Cere Network Blog
A promising development team
Cere Network co-founder and CEO Fred Jin founded 50CUBES game company in 2009, which was supported by Tencent. Prior to this, Jin was the chief developer of Bebo, a well-known social networking site, which was acquired by American AOL in 2008 for a sky-high price of US$850 million.
In the early days of 50CUBES, Fred Jin pointed out that there was no solution on the market that would allow them to better understand user behavior through data, so 50CUBES created its own solution. Today, cloud data technology has gradually matured. Now it is time to get rid of giants and return control of data to users and enterprises.
In addition to Fred Jin, the other two co-founders are Kenzi Wang and Ian Duggan. Kenzi Wang was the vice president of Huobi Exchange and graduated from the Wharton School of Business with an MBA, while CTO Ian Duggan graduated from the Massachusetts Institute of Technology and served as the technical director of Twitch and Amazon. Cere’s technology team has more than 30 technology engineers and blockchain developers.
With the background of the times, the technological vision and the strength of the team, Cere Network is quite optimistic by the market and has become an incubation project of Binance Lab. In August last year, Cere Network completed its first round of US$3.5 million in financing. In addition to Binance, well-known capital such as Arrington CRP Capital, NGC Ventures, Kenetic Capital, Monday Capital and Fenbushi Capital also participated.
Image source: Cere Network Blog
Risks and opportunities
The cloud platform is a blue ocean that can generate $50 billion in value every year, and a large number of technology giants have already entered the market. But for Cere Network, similar to AWS (Amazon Cloud) and Google Cloud are not its real “enemy”. Compared with these giants, Cere Network has great innovation. While the giants focus more on providing data storage services, Cere Network hopes to solve how to achieve a balance between user privacy, revenue, and rapid and low-cost use of data by enterprises.
In Cere Network’s view, its current biggest challenge is not traditional cloud service providers, but Snowflake. Snowflake is not a substitute for current cloud services; instead, it currently runs on Amazon Web Services and Microsoft Azure. By isolating cloud computing and cloud storage, it has built a set of highly efficient SQL data warehouses.
Simply put, Snowflake helps users extract, process, store and access data by cooperating with the current cloud service platform. And Snowflake is completely cloud-based, without installing any hardware or software, which provides users with great convenience.
Snowflake is highly sought after in the United States this year. It was listed on the New York Stock Exchange on September 16 this year. It closed up 111.61% on the first day of listing. The stock price was $253.93 and the market value was $70.7 billion, setting a record for the largest IPO in the history of a software company. Snowflake’s investors also include “stock god” Buffett. It is worth mentioning that Snowflake is the first technology stock that Buffett has participated in in half a century.
But Snowflake’s future is not without challenges. According to a report from Ernst & Young, under the current wave of “emphasis on privacy”, decentralized cloud data platforms are likely to be the future trend, and this is an opportunity for the development of Cere Network.
With advantages such as more effective collaboration, better data agility, smarter integration, more privacy, and ownership of users, Cere Network will likely become the “next-generation Snowflake”.
Cere Network is a heavyweight project in the Polkadot ecosystem and the first 2B project in its ecosystem to receive the Polkadot Web3 Foundation Grant.
At present, Cere’s decentralized data cloud (DDC) platform has begun to cooperate with many companies. Partners include companies in catering, entertainment, retail, transportation and other industries to jointly create a more efficient and more private data management system. platform.
Not only that, using Polkadot’s cross-chain mechanism, Cere Network can also integrate other public chains including Binance Smart Chain, Polkadot, Cosmos, Ethereum, and maximize the connection between the enterprise and the blockchain ecosystem, thereby creating a large scale , But not monopolizing the cloud data market, bringing real benefits and protection to enterprises and users.
Image source: Cere Network Blog
Relying on the advantages of decentralization and the balance between user data protection and technological development, Cere Network has gained a lot of advantages in the competition with traditional cloud service providers and emerging centralized database companies.
For more latest developments on Cere Network, please visit the official website: https://www.cere.network/
