Rhonix Labs

Users don't own their own data on the current version of the internet (Web 2). All the data generated by users of the big platforms sit within centralized silos. Not only do these data farms choke the environment, but our unstable geo-political environment means that these centralized data farms are not secure. In this unstable geo-political environment, decentralization is therefore inevitable because it means a robust and safe network for our data.

Further, these centralised data silos have created immense structural market asymmetries in industries where data drives decision making such as in finance, insurance, medicine, engineering, news, media publishing and education. These asymmetries in fact stifle innovation rather than promote it. They increase financial risks rather than de-leverage them.

Disinformation campaigns and 'fake news' have led to democratic subversion and incitement to violence. It's also led to record low confidence in the media and the institutions and events upon which they report on.

Big Tech platforms have largely monopolised user data for the benefit of their true customers, who purchase their data for advertising or other purposes. They've also created barriers which prevent people from seeking better ownership of their data and seeking the best available data with which to make decisions.

Big Tech has in fact become so powerful that it has the capacity to modify user behaviour. It can lead, especially our young people, to unknowingly make decisions against their own best interests, and there is little doubt it contributes to their mental health problems.

In the Web 2 paradigm, data of benefit in any trade or transaction may be amplified. Whereas, data causing liability may be deliberately lost or ignored.

It has simply become too difficult to interact with trust and confidence in the marketplace of information. Both governments and the market are ready for a transformational move away from Big Tech.

We want our children (and future generations) to own their digital footprint, which is worth more than you can fathom to Big Tech.

At Rhonix, we believe if people owned their own data, we could help promote never before seen innovation and re-distribute the ubiquitous power of Big Tech to the masses, including our children and future generations.

Blockchain technology is applicable in areas where there is a lack of trust between parties involved or a lack of trust between responsibility boundaries, since on-chain transparency and the intrinsic consensus mechanism provide traceability and proofs for agreements. All on-chain activity on Rhonix is public and recorded. It is a platform for transparency.

Rhonix is not primarily a financial network, it is a data first network to improve the plumbing of cyberspace. Using the Rhonix platform gives the user compute power to be able to read and write to a network of knowledge that aids innovation and risk management.

Risk management has been identified by both the National Association of Insurance Commissioners and the National Society of Professional Engineers in the United States of America as the best and highest use case for blockchain technology.

Value comes from real world utility and insurable engineered solutions, not numbers on a computer. Insurance, and especially the insurance of engineering and metropolitan infrastructure, not finance, is the highest use case for blockchain technology. Rhonix aims to become a tool for insurers and engineers before financiers. This is the best way to build a stable utility token and shield our network from malpractice, malfeasance and the general immaturity of the broader industry at this time.