Thread by @ECrypto0

Some believe #privacy in #Web3 stops at anonymous transactions, which couldn't be further from the truth

@OasisProtocol have built a solution to propel #blockchain adoption to areas that were not previously possible 🌹

Mega thread🧵⬇️

Don't miss this one

❤️/RT/Follow for more twitter.com/i/web/status/1…

2) @OasisProtocol will be imminently releasing the Oasis Privacy Layer (OPL) to all major #EVM chains, allowing any #dApp to integrate customisable, compliant confidentiality to any existing dApp

With OPL and their #privacy paratime Sapphire, a new era is coming to #Web3

3) Now let's get into what this unlocks in #Web3

Undercollateralized or variable rate lending in #DeFi

Borrower reputation can be established via private data such as credit history

Those with a good reputation can get loans using less collateral &/or lower interest rates

4) MEV-resistant DEXs

Important aspects of orders, such as slippage parameters can be kept private from even the nodes themselves, preventing them from manipulating orders & frontrunning

This allows users to keep more of the value of their trades

#privacy #blockchain #DeFi

5) Privacy-preserving Decentralized Identity

Also called anonymous credentials. This could allow people to satisfy KYC/AML laws without revealing their entire identity to everyone

This can also allow #dApps to screen users based on e.g age or country. Ensuring compliance

6) Confidential NFTs

The owner of an #NFT gains access to private data such as an image. This could be used to enhance the value of owning an NFT since not every aspect of the token is available publicly

From PFPs to medical data, the use cases are huge

#OasisNetwork #privacy

7) Confidential Voting

This could be especially useful for a #DAO, or even government voting

It allows for votes to be held in which voters are not influenced by the votes that were submitted before them, whilst also protecting the voter's #privacy

#blockchain #Web3 #DeFi

8) Decentralized Social Platforms

Because these applications run on the #blockchain, they're resistant to censorship & undue control

Many unique features put them ahead of traditional platforms & unlock value where previously impossible, whilst protecting #privacy

#Web3 #Meta

9) Collaborative Analytics

Multiple companies or individuals could pool their data and perform a #privacy-preserving analysis whose results are shared within a certain audience

Medical data is worth $32.9B & is desperate for a compliant solution to #DataAnalytics

#OasisNetwork

10) Games with hidden on-chain state

#GameFi will be an integral part of #web3 adoption, but several tasks have to be completed off-chain due to needing to keep aspects of state away from other players

Puzzles, strategy, card games & many more would benefit from @OasisProtocol

11) Games that rely on random number generation

Through the use of Trusted Execution Environments (TEE), @OasisProtocol can generate random numbers without an oracle

An example would be casinos that require undisputable fairness, RPGs for loot etc

#blockchain #Web3gaming

12) Proof-of-humanity

A privacy-preserving user verification system can be implemented that proves a user is human based on uploaded ID documents or attestations from trusted institutions/companies

This could be useful on any #dApp that wants to exclude bots

#OasisNetwork

13)Decentralized Confidential Job Marketplaces

Employers & employees use a platform that maintains #privacy for both

Job seekers prove their qualifications without revealing their full identity, while employers don't need to unveil sensitive info, preventing bias

#OasisNetwork

14) Decentralized Confidential Insurance

A decentralized insurance platform can be built using TEEs to maintain the #privacy of policyholders personal information & history, while still allowing insurers to assess risk & premiums

Increasing transparency & trust

#OasisNetwork

15) Fair Auctions

VCG (sealed bid auctions), 2nd price & candle auctions are examples of fair auction methods that require #privacy

There are endless markets across #Web3 that could benefit from this, with more to come as traditional sectors adopt #blockchain

#OasisNetwork

16) Biomedical Data Marketplace

Biometric data from wearing a smartwatch, demographic data, genomic data, blood work data could be uploaded and protected so that only owners of the data can control who accesses it

Data analysts could pay data owners for access

#BigData #Web3

17) Data Science Competitions for Private Data

This would be a decentralized version of @kaggle

Allowing people to offer datasets that competitors can analyse in order to be rewarded

Private data analyses would be performed within a TEE, preserving #privacy

#OasisNetwork

18) This list of use cases for @OasisProtocol will hopefully highlight the benefit of confidentiality and customisable #privacy that Oasis Privacy Layer will bring to #Web3

This is the chain that reduces the barriers to large scale #blockchain adoption

#OasisNetwork

19) Curious how @OasisProtocol can achieve all of this? This mega thread below on OPL should get you started⬇️

#blockchain #Web3 #Crypto #OasisNetwork

20) How is @OasisProtocol capable of delivering such an undertaking?

Founder @dawnsongtweets is widely regarding as one of the best minds when it comes to #privacy, #blockchain & #AI

This mega thread on her will get you going⬇️

#blockchain #Web3

21) Interested on who is already utilising #privacy from @OasisProtocol?

This mega thread breaks down the #BigTech giants already jumping on board⬇️

#blockchain #AI #Meta #INSTAGRAM #BMW

22) If you're looking to build a platform utilizing this unique #privacy from @OasisProtocol, they have a mostly unspent $235M ecosystem fund from some of the biggest VCs in the space

There is also a #hackathon due to be starting soon

oasisprotocol.org/p4w3-hackathon

#Web3 #blockchain

23) And that is the end of the thread on some potential use cases for @OasisProtocol / Sapphire

#blockchain & #Web3 adoption is at its early stages but with exciting times ahead

Thank you!🌹

❗️Please ❤️/RT the first post & follow for more❗️

Credit to @poepmajoor for his help