Why do we need BNB Greenfield
The cryptocurrency industry has experienced significant growth and adoption, with the likes of tokens, stablecoins, and DeFi covering various economic scenarios. However, certain areas like credit, real-world asset (RWA) tokenizations, and data remain inadequately innovated. Consequently, BNB Greenfield has been created to focus on data.
A crucial issue that the BNB Greenfield project aims to address is that the value of a data asset is not self-evident when held by one person. The value of data assets increases when shared and leveraged by multiple parties, which stems from the ability to write, read, grant rights for sharing data, and even execute data to generate another. These abilities have financial traits that are tradable, and such trades can produce even more value and benefit two parties rather than just one.
We foresee the need to create a new Web3 infrastructure for data, as two major features are still missing: a performant, convenient, and friendly decentralized storage infra, and the data-focused smart contract synergy. Hence, we aim to create "BNB Greenfield," a new BNB side blockchain and relevant infrastructure that allows users and developers to:
"login" with anonymous cryptographic-based keys (IDs);
create, read, share, and even execute data, with a user experience that is on par with the state-of-the-art cloud storage services today, and at a low cost;
fully own their data assets and control who can use them and how;
easily put their data assets into a wide, smart-contract-based economic context to gain financial value with them.
In summary, BNB Greenfield seeks to offer users greater freedom in creating, owning, sharing, executing, and trading their data assets, while also providing transparency on how their data is owned and used.