Multisig Protected Data Coalition Fund Pools

Itheum is a decentralised data brokerage. It’s a cross-chain “Data DEX” that allows users to trade personal data securely on-chain (works on EVM chains). Data Coalitions our one of the key features of the Itheum Platform and is a DAO based entity that allows for the bulk-sale of personal data. Itheum's DAO designs were a finalist in the Global DAOHack competition and we presented our designs live in their final YouTube pitch session.

Our current state of the DAO designs do have some flaws that we would like to address as part of the POC proposal. We detail the flaws and the recommended solution below.

Problem:

  • Data Coalition (DC) DAOs can have multiple board members (n) — which is decided when a new DC is created
  • New members have to Stake utility tokens to join as a “Board Member”
  • The “Chair” (Creator of the DC) also has to stake a lot of utility token
  • Regular “Members” can then join the DC and contribute their data, the can also “stake and contribute” to show their commitment to good data quality
  • Regular users of the Itheum platform can also “stake” on the DCs they like (to flag support for the DC and it’s data quality)
  • All the above staked / bonded utility tokens go into a common pool called the “DC Fund Pool”
  • The DC Fund Pool is used for arbitration and dispute resolution in contentious sales of data
  • Based on current design: the DC Fund Pool funds are controlled by the “Chair” — THIS IS A PROBLEM as it's centralised

We are proposing multi-sig protection for Data Coalition fund pools as follows:

Gnosis Safe protected multi-sig safe powering the Data Coalition fund pool

As part of this Proof of Concept (POC) we’d like to demonstrate how Multisig technology can make the Data Coalition Fund pool more robust and less prone to centralised influence and attacks. Our proposed solution is:

  • The DC Fund Pool is a GnosisSafe (or a similar Multisig tech)
  • And the “Board Member” are the safe “owners”
  • For any transaction to go out — we will need all owners to sign and agree
  • The integration with the Multisig tech should be seamless and ideally via the Itheum smart contracts (not front-end APIs etc)

Read more here:

If you want to join us as we explore this POC — Please reach out to us on:

About Itheum

Itheum empowers data ownership in the Web3 and Metaverse ecosystems and creates new market value for your data. It enables this by providing “decentralized data brokerage” technology. It’s a suite of tools that enable high-value data to be bridged from web2 to web3 and then be traded via peer-to-peer sales. It allows for “viral adoption” via our creative “Data NFTs” (provide “inner value” to NFTs and enable royalties / limited supply) and “N.F.Me” technology (a living Metaverse avatar representation of you — wrapped as an NFT and backed by personal data) and our innovative Data Coalition DAOs (which bulk sell your data). It also aims to be fully privacy-preserving, regulation-friendly and cross-chain; making it the most comprehensive core blockchain data infrastructure available in the market with use-cases in both the enterprise and consumer space.

As we enter the web3 and metaverse era; Itheum unlocks data silos and generates new value for your data.

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