Abstract.
The Cros Data Oracle breaks down information silos with seamless, secure data sharing capabilities to drive collaboration and delivers governed, simple, and near real-time data analytics access within a single platform.
Cros charges a small fee on every transaction. This means Cros Clients can advance the use of data as a strategic asset to deliver on mission outcomes, serve citizens/customers, and maximize resource utilization with agility, all while ensuring security and compliance.
Through Cros, the users will finally benefit from their data, as revenue generated through the CROS token will be distributed to the very users whose data will be used.
Cros is a flagship project by Bussr Technologies, a leading AI-based payment infrastructure platform that powers governments, enterprises, and users with full-stack advanced technology for payments, bookings, analytics, and operations to facilitate mobility of people and goods globally.
More than 800 mobility partners have already begun to reap the advantages of Bussr's technology. There are also more than 60 major payment providers, over 100,000 retail stores, and in excess of 12 million users already on the Bussr platform.
Introduction.
Data
It is no secret that Big Tech has monopolized data — their digital oracles have cast a dark shadow over transparency and accessibility, all while they continue to profit as middlemen. Thankfully, a new dawn in data transparency and accessibility is upon us with the advent of decentralized, peer-to-peer data ecosystems.
As it stands, despite the world being spoiled for data, most people, or even enterprises, do not own their own data. The Big Five of Big Tech (Apple, Amazon, Alphabet, Facebook, and Microsoft) have profited trillions of dollars over recent years simply by acting as middlemen for access to third-party customer data. Add in the other top players such as Oracle and Salesforce, and that yearly revenue equates to the GDP of several First World countries combined.
These giants of Big Tech act as global digital vacuum cleaners, sucking up the world’s data, and hoarding it on their servers, only to sell it back to the very businesses that gave it to them. Owners of applications are chained within these walled ecosystems, all while suffering from sub-par interoperability, privacy breaches, and poor compliance. The result is unnecessary risk to both enterprises and their customers.
Not surprisingly, enterprises and developers of all sizes are becoming increasingly dissatisfied and disaffected by the reality of not having true control over their own data. This discontentment is amplified by the fact that they have no other choice but to accept these costly integrations that offer substandard user experiences. End-users are also increasingly aware that their data is being monetized by Silicon Valley billionaires.
Unfortunately, there is no real alternative other than to play by the rules of the oligopolistic walled gardens, and so businesses and developers continue to struggle.
Until now.
Cros sees a future where two or more parties can share and collaborate their data with complete safety and security, all without the need for a Big Tech middleman.
Quite suddenly, there could be a new, more ethical reality where businesses would have the freedom to create new product offerings, provide better customer experiences, and deliver better security. It’s time for enterprises to own their own data, and decide when and what to use it for.
The Cros Network plans to offer this next generation in data storage and procedures — and much more.
Finance
The cryptocurrency market cap (at the time of writing) is in excess of US$2 trillion. Business intelligence leader Microstrategy spent in excess of US$2.1 billion on cryptocurrencies, which are now worth nearly US$4.5 billion.[1]
The fact remains, however, that the world of cryptocurrencies is gated. Not by actual limitations, but rather by complexities on acquiring, storing, and paying with cryptocurrencies in the real world. As such, there is a vast amount of capital that can be deployed in the cryptocurrency space with good use, but there is a glass wall between the two. There are also functionalities that crypto can bring to real-world transactions which are not fully leveraged.
The Decentralized Finance (DeFi) space is booming. The total locked value (TLV) in DeFi, at the start of 2020 was just shy of US$700 million. Currently, this number is in excess of US$42 billion, which represents 60x growth in under a year.[2]
The majority of this value is locked within lending protocols.[3]
Most lending protocols require liquidity in order to disburse loans, but this liquidity is often scarce, which can lead to an annual percentage yield (APY) on the loans of over 20%-30%.
The Cros Network is looking to extend its functionalities by offering its users:
-
An innovative data oracle
-
A pioneering finance system
-
A utility and governance token
The Data Oracle.
Big Tech’s Tight Grip on Our Data
The current Big Tech data monoliths hold the vast majority of the world’s enterprise data — their fragmented, walled nature results in an immense waste of resources spent verifying, moving, and aggregating data amongst stakeholders. In fact, it’s believed that less than 1% of all data is actually analyzed.[4] From a purely operational perspective, the current model is a hugely frictional environment for data storage, migration, and analysis.
Even without the ethical dilemma of Big Tech’s tight grip on our data, the traditional centralized data system either underdelivers or outright fails at many levels:
-
Control — enterprises effectively hand over control of their own data to the centralized exchange.
-
Hosting — in most cases, data must be hosted offsite in a centralized data exchange.
-
Pricing — traditional pricing models are often rigid and confined to narrowly defined parameters.
-
Cost — data exchanges charge commissions, fees, and service levels that increase costs as time goes on.
-
Tracking — ways to track usage to enable royalties are minimal.
-
Trusted Frameworks — regulatory, trust, and consent frameworks can be lacking.
All of these factors combine to create a system that simply is not operating in an optimal fashion. There is a glut of data; however, it is locked up in centralized data silos that Big Tech uses for their own goals. This stifles innovation across countless industries and holds back the economy as a whole.
For example, Artificial Intelligence (AI) is on the cusp of redefining almost every aspect of science and the economy at large. By 2025, AI revenues are expected to reach US$60 billion.[5] For AI to reach these world-changing heights, however, it needs mountains of data, which is unfortunately locked up in the silos of Big Tech. It’s therefore widely thought that it is the lack of data, not advances in science, that is holding back the future of AI.
Ultimately, the very nature of Big Tech’s technological structures inhibits the free flow of data, ideas, and innovation.
Lest we forget the steady surge of the privacy era, where even the least tech-savvy of the population is aware that Big Tech has an eye on their every digital interaction. Beyond privacy, the public is also becoming more and more aware of how vulnerable Big Tech services are to hacks. In April 2021, for example, 533 million Facebook users' phone numbers and personal data were leaked online.[6]
With this in mind, it’s crucial that next-gen customer data services need to have unparalleled levels of individual data privacy, security, and dexterity to adhere to CCPA/GDPR regulations.
As it stands, most organizations find it hard to fully comply with these regulations, both due to the restrictive nature of the current data services model, and the risk of disrupting the accuracy of the customer data they are collecting.
Armed with this information, any forward-thinking business would be looking for first-party data solutions that avoid Big Tech centralization and control, provide full security, control, and transparency, while providing superior insights into consumer psychographics.
Put simply, this all comes down to breaking the chains held by the oligopolists of Big Tech, so that companies can own their own data, and use it in a better way.
One of Cros' main goals is to build a data sharing economy where the user finally benefits from its data and is incentivized to share it and the enterprises are able to fully leverage and monetize high quality data. To do this, Cros is creating a supremely interoperable service layer on top of the entire system, which all developers and vendors can then access through Cros' Data Science Ecosystem (DSE). Through the DSE, businesses but also individuals can then choose to lease their data to other businesses or data vendors or acquire business intelligence services, insights, and data products.
The beauty of Cros' technology is that businesses are not burdened with large upfront costs, and they won’t have to completely rebuild their applications — all they have to do is seamlessly integrate their existing apps and systems with Cros' decentralized data oracle.
Enterprises on the Cros Network retain full control over when, how, and why their data is being used. Developers and data vendors can use the DSE to offer their own plug-in data products and services to businesses in the Cros decentralized data oracle, which will ultimately allow for innovation and better consumer experiences.
It would be hard to find an honest expert who would deny the future of customer data management is in decentralized frameworks — data pools, application environments, and exchange services would all see improvements across the board. Decentralized data management also suits the increasingly interconnected nature of enterprise data sharing between customers, vendors, subcontractors, and other stakeholders.
Traditional Big Tech data management mechanisms won’t, or can’t, keep up with these changing demands, preferring to remain with their outmoded Customer Data Management (CDM) and Customer Data Platforms (CDP). This outdated approach simply isn’t enough to keep pace with the interoperability, speed, and flexibility required by modern commerce, making the decentralized blockchain the natural evolution.
However, despite the headlines, the mass adoption of blockchain technology is far from a reality. For the public at large, the blockchain is currently more a buzzword than a useful, everyday technology. The simplest way for blockchain mass adoption is for enterprises to elegantly introduce the technology to their millions of users.
Cros will kickstart this mass adoption by providing fully technology-integrated growth outcomes to enterprises around the world. The pitch to these enterprises is simple — much like the proven cost savings and growth they found with SaaS solutions, the Cros Network will take efficiency and cost savings to the next level, all while improving security and transparency. As a bonus, there will be no more reliance on Big Tech.
Cros Parts the Dark Oracles of Big Tech Data for Clear Skies of Opportunity
Freedom from the Big Tech walled gardens comes in the form of Cros' Decentralized Data Oracles — providing businesses, data providers, and developers the tools that were rarely made available to them through Big Tech data services. Once the full potential of their data is accessible, true innovation will be made possible through real-time data-fuelled peer-to-peer cooperation amongst businesses, developers, data service vendors, and data scientists.
For developers, Cros' Decentralized Data Oracles allow for a decentralized, open-source platform to build upon, where they are not restricted by the narrow rulesets of Big Tech. At the other end of the development spectrum, app users will be able to control what sort of personal information, transactional data, and behavioral patterns are collected from their use.
Cros' real-time approach to data access and synthesis will finally allow businesses to instantly share customer data between apps and partners while tracking customer journeys from an integrated perspective through any channel. It also allows for data scientists and business intelligence experts to help understand what users want and need for future development.
The Cros Network will allow businesses of all sizes to develop their own decentralized customer data oracle. Distributed ledger technology (DLT) and the blockchain are the building blocks of the Cros Network’s Decentralized Data Storage (DDS), meaning from the oracle down, the Cros Network is built with privacy, interoperability, and security at its core.
While Big Tech clings to its model of closed data, Cros is built around the ethos of transparency and decentralization in order to create an open-source and collaborative data platform. Cros' Decentralized Data Network (DDN) is a trusted system that allows apps to share user data in a way that benefits all parties involved while respective data ownership is maintained.
Cros' blockchain and distributed ledger technology ensures the anonymity and security of all customer data stored or shared across the Cros Network — a crucial component for client trust. With Cros, consumers need not worry about what centralized Big Tech oligopolists are doing with their very personal data.
App owners, tech vendors, validators, developers, and consumers alike are all part of the Cros
Decentralized Data Oracle (DDO), allowing businesses to onboard customer data safely and securely. Thanks to this open and interconnected environment, all of these parties can collaborate and prosper together.
Ultimately, this allows businesses to escape the walled gardens of Big Tech, and stop paying exorbitant fees for substandard data offerings. All the while, consumers can finally have control and visibility of the data that defines their digital personhood.
The Time for Cros Network’s Decentralized Data Oracles Is Now
While Big Tech’s data services mean handing over data to a third party’s walled and centralized hub, Cros offers a first-party consumer data solution built squarely on the foundations of security, privacy, and supreme interoperability.
In the current landscape, of course, Big Tech Data has been emboldened by the fact that their customers are essentially trapped in their walled gardens. High prices are met with little resistance, given that there is no real alternative.
The Cros Network’s Decentralized Data Oracle will enable stakeholders access to own their own data with complete control over who can use it, when they can use it, and in what context. This level of security, flexibility and privacy simply isn’t available with traditional Big Tech solutions.
This revolutionary idea of a business being able to create their own custom Decentralized Data Oracle means everything can be catered for, from market landscape to organizational structure, to business workflows — all encrypted on the blockchain for complete security. This is all done with less cost and more efficiency than current third-party offerings.
What’s more, it means that organizations will not have to hand over their data to third-party oligopolists who simply do not have their best interests at heart.
This is what makes the Cros Network so compelling — it’s an offering that Big Tech simply cannot currently offer.
The Cros Network means no more middlemen and the ultimate ability for stakeholders across the data and business spectrums to own their own data — meaning direct and efficient collaboration. This is where privacy, security, and autonomy converge to create true innovation across the value chain:
Data Consumers
Any organization, ranging from individuals to startups and government that owns data that can be studied or commoditized.
Data Providers
Any organization, ranging from startup to government that owns data that can be studied or commoditized.
Developers
Any individual or entity that builds value-added services.
Marketplaces
Any platform or portal that brings sellers and buyers together with a marketplace of valuable algorithms, computation, data, etc.
Communities
Any individual or entity that wishes to contribute to or help decide how data is used in the real world.
Ideally, all of these stakeholders should be able to interact freely, but this is not possible under the current data environment.
In the eight seconds it will take to read this sentence, nearly 440,000 people will have posted to Facebook, and nearly 3,000,000 Whatsapp messages will have been sent. In these particular scenarios, Facebook owns both companies, and so only they can share relevant information on those data transactions. For your average enterprise, however, there is very rarely a way to look for interactions between apps. To access data from one app to another, one must pay a Big Tech middleman.
Beyond the cost of acquiring paying customers, the mere fact there are only a few Big Tech-owned market channels to funnel the buyer journey, means customer acquisition is even more prohibitive. Since Big Tech owns these app stores, it also means that they hoard the rich data left by their users, leaving very little for the businesses they claim to represent.
As a result, the likes of Facebook, Apple, and Google keep these private treasure troves of data to themselves, as they pile up through the continued use of their apps and platforms. These tech giants can stand atop their private data mountains, establishing control over the valuable insights they contain.
The control over this data generates the tech giants trillions of dollars a year in revenue. Their walled-garden pay-to-play model means that they gather data that app owners hand over to them, and sell it back to them for a profit.
Big Tech controls user search, discovery, and recommendation results, so consumers see only what Big Tech wants them to see. Promotion and price are also at their discretion. This sort of control allows for absolute revenue maximization and very little incentive for them to provide better (or even different) user experiences.
Cros believes that businesses and developers in this environment should be able to collaborate directly with each other, without having to abide by the rules and restrictions set out by the tech giants.
The ecosystem offered by the Cros Network will offer just that — a place for businesses and developers to collaborate that allows for optimal innovation, unencumbered by paywalls and middlemen, all while having full access to their users and their data.
For example, a health insurance company would no longer need to go through a Big Tech middleman to collaborate with a fitness app developer; with Cros, they can collaborate directly, using each other’s customer data to innovate together.
Alternatively, it could also be a transactional relationship, where the health insurance company directly pays the fitness app developer for customer data. For example, the health insurance company could directly interact with the fitness app user, offering a highly personalized product or service based on their data profile. This entire hyper-focused process would be done with complete security, privacy, and transparency; all without Big Tech middlemen dictating the terms of engagement with their rigid, pre-packaged data solutions.
By giving businesses and developers the ability to rent their customer data to other apps, the Cros Network will also help developers gain a deeper understanding of user behavior from as many channels as they desire. Consumption habits across every conceivable channel could all be made available without the oversight of Facebook, Apple, or Google, resulting in lower development and marketing costs for all involved.
There are almost endless possibilities with these collaborations, including the addition of data exclusivity price premiums and monetization through commission on data sales. Payments for data will be in Cros Tokens. Entire sub-economies will flourish as new data markets are established to push innovation through collaboration.
Taking the middleman out of the equation also opens the market up to new players — as it stands, most of the app revenue is made by a select few at the top, while the overwhelming majority of developers languish behind. Without the need for Big Tech as a middleman, app monetization and distribution would be made much fairer — where every developer launches from a level playing field.
Finally, these collaborative unions would all be simple to achieve, offer complete transparency, audibility, and interoperability, and no data would actually have to be moved or copied thanks to decentralization.
The reliance on using Big Tech’s overpriced user data would be a thing of the past, all while giving users even better, more targeted offerings.
True Mass Adoption
As stated earlier, Cros trusts that the most efficient way to facilitate mass blockchain adoption is through enterprise use — hundreds of millions of users will be gathered by large enterprises seamlessly introducing blockchain technology to their own users. With 12 million users already on partner Bussr’s network, Cros is well on its way in this regard.
Much like the proven cost savings and growth they found with SaaS solutions, the Cros Network will take efficiency and cost savings to the next level, all while improving security and transparency. As a bonus, there will be no more reliance on Big Tech.
This will empower Cros to lead the charge for mass blockchain adoption by providing fully technology-integrated growth outcomes to enterprises around the world.
It’s fair to say, of course, there will be some resistance for enterprise use of blockchain as a service or infrastructure — after all, rebuilding a business model into a decentralized ecosystem does offer legitimate challenges where risks and rewards must be measured. Holistically speaking, however, there are fundamental factors that will motivate an inevitable change.
Firstly, decentralization is becoming increasingly appealing in organizations where the longtail of the organizational structure demands more influence in the decision making. Secondly, business-to-business (B2B) relationships are becoming more and more intricate and diverse, so a decentralized model will negate bottlenecks in transactions and communication. Thirdly, current business, technology, and organizational models are preventing IT systems from concurrently providing scalability, trust, and security, known as the Scalability Trilemma.
There are also challenges at the consumer end — while the general population is very comfortable with traditional app stores, Decentralized Applications (dApps) are new and unfamiliar territory for most people.
However, much the same as at the enterprise level, there are crucial motivational factors at play that will see everyday consumers become more and more comfortable with dApps.
App users are becoming increasingly aware and disheartened by the fact they are often the product and are having their data commoditized by Big Tech. As a result, they are constantly bombarded by marketing messages that disrupt the app user experience rather than add to it. As a final barrier, Big Tech continues to abuse its position by pushing up app prices, and so using apps is becoming more expensive.
With both ends of the spectrum considered, Cros is confident that scaling and mass adoption problems can be solved by the universal appeals of Decentralized Data Oracles — interoperability, scalability, and easy integration of existing systems.
Finally, and perhaps most encouragingly, the fact that Cros already has over 12 million users on its network should be proof enough that Cros is already well on its way to becoming a world leader in mass blockchain adoption.
Cros' Bedrock Principles.
Thus far, we’ve explained the current oligopolistic and restrictive environment for data, and how Cros can create new possibilities for enterprises and consumers around the world. We’d now like to introduce you to the four fundamental principles of Cros' technology that will shape the future of data.
1. Decentralization Through an Enterprise-First Philosophy
Decentralization is the key to change data for the better — but it should not hamper enterprise usability. Enterprise use is key to mass adoption, so every facet of Cros' construction and ongoing development revolves around enterprise needs. A plug-and-play mentality will be used to ensure enterprises can lift their existing systems onto the decentralized blockchain with absolute ease.
2. Interoperability of Networks
Given the wide array of use cases amongst varying enterprises, the Cros' Network layer must be able to handle high volumes of throughput amongst specialized enterprise chains, apps, and services.
3. Privacy and Security Above All
Being able to handle high-throughput counts for nothing without supreme privacy and security. CCPA and GDPR compliance is essential for onboarding enterprises. Every enterprise should have the ability to customize their own data privacy and security settings and manage their own compliance if desired.
4. Ubiquity Through Simplicity
If Cros is to truly revolutionize the way the world owns, uses, and stores its data, it needs to be as close to ubiquitous as possible. For this ubiquity to occur, the Cros Network must be as simple to use as possible for all involved. Simplicity removes barriers, and so Cros will be consumer-facing in as many aspects as possible.
The Building Blocks of Cros'
Decentralized Data Technology.
Cros Is Introducing the Next Generation in Scalable Customer Data Management
With these bedrock principles in mind, Cros' network layer is built on the established and proven Ethereum blockchain, offering all of the benefits of true decentralization.
Using Polygon for interoperability and Substrate for the mechanics, Cros takes advantage of demonstrated and reliable technology. The result is superior scalability, privacy, security, and decentralization, all in a package that enterprises and consumers can use with ease.
That ease of use, combined with an existing network of millions of users, means Cros is already on track to be the first blockchain to achieve wide-scale adoption. When more enterprises naturally demonstrate the benefits of Cros' decentralized data to millions of more consumers, true mass adoption is the natural consequence.
Once mass adoption occurs, hundreds of millions of people will benefit from simple payments, easy customer wallet onboarding, and even effortless staking. Today, these concepts may well be foreign and futuristic to the global population — with Cros, tomorrow they will be the norm.
Cros' Technological Features.
Cros' Decentralized Data Oracle
If Snowflake’s intelligent data warehousing was the beginning of the future, Cros' Decentralized Data Oracle (DDO) is the be-all and end-all of data management. Imagine Snowflake’s benefits of dynamic data services and structured data sets, but also decentralized for ultimate encryption.
Every piece of data on Cros' DDO is segmented and decentralized, removing personally identifiable information (PII), all allowing for maximum security and access of all data. Customer journeys are shown in customizable data views while maintaining complete anonymity, allowing Cros to handle customer data in a more efficient and ethical way.
Decentralized Data Oracle Onboarding
By allowing enterprises to leverage their own data fully, Cros will lead global blockchain adoption. Of course, in order for enterprises to truly take full advantage of their data, they must first truly own their data. Cros' Decentralized Data Oracle allows enterprises to own their own data entirely and fully control its ultimate purpose.
It’s simple too — enterprises can essentially plug-and-play their existing systems to Cros' Decentralized Data Oracle, all while maintaining customer data anonymity. Each end-user/customer will receive their own automatically created cryptographic wallet, which will allow millions of customers to take advantage of new and innovative CDM and CDP tools. The end result is a richer customer experience (coupons, loyalty points, vouchers, etc.) through data-driven business development, all in a compliant and trustless environment within the Cros SDK.
With Cros' Decentralized Data Oracle, every single industry will finally have true ownership of their own data and the tools to leverage it.
Seamless Onboarding
-
Cities and Enterprises will experience frictionless onboarding thanks to Cros' plug-and-play frameworks and modules, so there is no need to start from scratch.
-
Flawless interaction between networks and existing SaaS platforms is made possible through Cros' decentralized bridges.
-
Cros will provide enterprises with the tools they need to innovate and succeed with a range of easy-to-use APIs.
-
A full array of guides and tutorials will be created to simplify the onboarding process even further.
-
Comprehensive community support is only a message away.
Distributed Messaging Fabric
For Cros to provide a truly distributed applications and services infrastructure for enterprises and individuals, a messaging infrastructure that provides the distributed connection fabric to higher-level enterprise applications & services becomes a key component of the solution. These distributed applications can be IoT devices, web applications & microservices relying on real-time communication & orchestration while leveraging the decentralized blockchain-based data and compute infrastructure.
Such a distributed messaging fabric becomes a critical part of the data value chain when you consider the value extracted from data in most of the cases is based on the recency and freshness of the data and associated signals.
Cros' Distributed Messaging Fabric is designed based on open Web Application Messaging Protocol - an open standard WebSocket subprotocol that provides messaging patterns for routed Remote Procedure Calls (RPCs) and Publish-Subscribe in one single unified protocol. This makes it ideal for a full range of connectivity scenarios covering telemetry, command & control, inquiries, notifications and software or firmware over-the-air updates (SOTA/FOTA).
The outgoing connections from the device can also use Websocket as the transport. Since a WebSocket connection starts off as a regular HTTP request (which is then upgraded to WebSocket), when encrypted (TLS) they are indistinguishable from HTTP traffic for intermediaries. This means that components can connect to messaging fabric from wherever regular Web traffic (port 80 or 443) is enabled.
Cros also leverages the open standard nature of the underlying WAMP protocol to create protocol bindings and adaptors to integrate with multiple other IoT protocols like NB-IOT, LORAWAN and others while providing a single messaging infrastructure that devices, applications and services hosted by enterprises or individuals can integrate with easily. REST APIs have emerged as the defacto standard for API while in the IoT sphere machine to machine protocols like MQTT have emerged as a more popular choice. Cros' Distributed Messaging Fabric allows WAMP compliant applications to integrate with services using REST APIs or MQTT components by transparently bridging between these and our messaging fabric.
The development model for the Cros data markets balances the need for agile development as well as the interests of all stakeholders. The Cros project is going to host all code for the Cros data market stack on GitHub, freely accessible to all. Aside from allowing security audits, this also allows others to examine our architectural approach and how we solve specific problems, to learn from it and criticize it.
The Cros token is ERC20 compliant, it follows the established standard for tokens on the Ethereum blockchain. It can be handled by existing software such as wallets and traded using established mechanisms. The Cros token as the means of payment in the Cros data markets for data sharing transactions and API usage allows simple payments across any jurisdictions, and the token smart contract provides the basis for the locking functionality required.
While all transactions are denominated in Cros tokens, there is no direct exchange of tokens as part of individual data transactions. The number and speed of transactions make it necessary to have an off-chain mechanism for these. A data consumer locks an amount of Cros tokens into a data market in which she wants to buy access to data. Within the market, current payment balances are held using state channels. The clearing of balances between participants within a market then occurs periodically on the blockchain.
The Cros token is one part of a system of smart contracts running on the Ethereum blockchain, which as a whole forms the connecting backbone across the individual Cros data markets. These provide the central registration of the entities, markets, participants, and APIs. They also store information about markets, APIs available in a market, who the participants in a market are, and the Cros tokens locked into a market for a participant.
We consider it easiest to explain the technology based on a generic use case between an FMCG Enterprise and a Bank in a data market. Enterprise runs a multi-brand retail operation and Bank is a financing house. Enterprise wants to give the Bank access to their current cash levels so that the Bank can optimize financing injection to their accounts. The Bank needs to both be made aware of any significant working capital shortage situations, and have access to the entire financials in order to determine how much to transfer each time to Enterprise.
The example interactions below are between Enterprise and Bank only to keep things simple. In a realistic data market, multiple enterprises and financial entities would interact, as well as possible other participants as both data providers for data on events that produce spikes in brands demand such as the seasonality and games, and data consumers such as product manufacturers who want to plan future demand.
In this full data market, there could be competition for Enterprises’ data, with several financial entities making offers for possible financing instruments based on Enterprises current needs and their own cash levels.
Data sharing covers a huge range of data types, usages, legal regimes and other aspects. Cros
allows data markets to be created and customized as needed: for specific data types, industries, regions, jurisdictions and types of participants. Market providers can decide on the conditions for a particular market, based on their industry expertise.
In our example the Bank intends to optimize his financing operations while the Enterprise wants to monetize their data. This is achieved via an API offered by Enterprise which gives access to sales data.
A Cros data market has to be registered with the Cros smart contracts on the Ethereum blockchain. This links to a description of the market itself to support the search for the market, at least for data markets intended for public participation. Anybody who uses the Cros technology stack can register a data market.
For the interactions within the data market, the market provider can set the rules for market participation including sharing the admin rights and permission powers with market participants. This can include requirements for being able to participate and govern aspects of interaction within the market itself.
Markets can be as public or private as fits the use case. A private market could be one where only companies registered in a certain jurisdiction and certified for handling specific kinds of data are accepted as participants, while a market for health data could be public and open to all. Similarly, in-market rules can be established, there could be a requirement that data accessed may be restricted to third parties, or that all data providers have a minimum level of API guarantee.
The Enterprises searches the data market registry and comes across a registered market that fulfils her requirements: a B2B market for retail enterprises and banks. The Enterprise checks and approves the market usage rules, which is all that is required in order to join this particular market. After having been notified by the Enterprise, the Bank also joins the data market.
The data market the Enterprise has joined has a list of recommended APIs which are already in use in the market. Enterprise finds a "working capital" API that fits her needs: This allows requests for sales levels as well as the sending of updates when there is not enough working capital for a specific product. Enterprise also finds an open source bit of adapter software which allows her to set up the API with her inventory management system. After looking through the prices for access to this API set by other enterprises offering it, she sets her price to the median.
The Cros tokens are a smart contract on the global Ethereum blockchain.
The limits on transaction throughput and the high latency here make it not feasible to run all billing for data sharing transactions on.
For Cros tokens to be used as payment for data sharing, a participant locks an amount of Cros tokens into the specific data markets where the data sharing transactions are to occur. The current balances for the transactions are then kept within the data market, and only clearing of these balances occurs in the Cros smart contract on the Ethereum blockchain.
Locking occurs for the specified amount with the ID of the data market for which the tokens are locked and stored with the lock. The tokens are then only available for free access to lock to another data market or transfer to another entity once the lock has been released under the involvement of that data market.
The clearing can occur on time-based, or at the request of a market participant, on a participant leaving a data market, or when a data market closes. Bank locks 50 of the 100 Cros tokens into the data market. This means that within the Cros token smart contract on the Ethereum blockchain, this amount of tokens is locked, and the data market registry ID of the data market is added. Banks can only make use of their Cros tokens outside of that data market when they have been unlocked.
Roles of data providers and data consumers within the Cros data markets, and for purposes of their roles, callees and publishers are data providers, callers and subscribers are data consumers. The data provider publishes data update streams, which the one or more data consumers receive as subscribers to the respective topic. A data consumer calls a procedure which the data provider offers.
Update streams are handled via the Publish & Subscribe mechanism. Bank subscribes to the topic providing information about financing situations for the instance of the working capital API that Enterprise provides. He may not be the only subscriber, e.g. other financing entities may also be interested in the information and engage in competitive bidding triggered by updates, or an analytics service for the industry may use this as raw data for its reports. Enterprise then publishes cash level changes to the Cros router for the data market.
The router distributes the update as events to all connected subscribers. The payload of the publish is encrypted. Subscription to the topic is possible in principle for all authorized and joined market participants. Monetization occurs through the sale of the access keys required to decipher the payload. Depending on the specific use case for the API, each publish may use an individual key, keys may be rotated time-based or changed after a specific number of publishes.
For dedicated requests, Enterprise registers a procedure with the Cros router. When a Bank has a need for the information provided through this procedure, it calls and receives the result via the router. As with publishes, results are encrypted, and the key sale is a separate process. The key assignment will depend on what makes the most sense for the particular API.
In principle, the lack of restrictions on subscriptions and calls allows bad actors within a market to disrupt through high volumes of access without payment. Such abuse is primarily a resource usage issue since there is no access to the data itself. It can be dealt with by the market provider and the market participants, e.g. by expelling an abuser from the market.
The process of receiving the required key is handled via the market maker entity. The market maker is a piece of software provided by the Cros project and operated by the market operator which handles the key exchange and maintains the real-time balances between participants in a data market. The use of a state channel that keeps the current balances of locked Cros tokens is planned here.
To decrypt received information, the Bank requires the key used for the encryption of the event or call result. An ID to use in the key request is provided as an unencrypted part of the payload for the event or call result. Bank then makes a request for the key via the market maker. In response to this, Enterprise gives a price quote for this particular key, at this time and for this specific bank.
Individual price quotes allow full price differentiation and adjustment where required. As an example, if there is a 24-hour key rotation for a topic where the main value of the information is its timeliness, then the price for the key could decline across the key rotation period.
If the Bank accepts the offer, he sends a request to the market maker. If Bank has sufficient Cros tokens to pay for the key the market maker then forwards the request to the Enterprise. Enterprise encrypts the key with the Bank's public key. The key is transmitted to the Bank and the transfer of the token amount is logged in the state channel.
Cros cuts are taken from the Cros tokens paid by the data consumer for API access, with the amount of the cuts having been added to the access price quote automatically.
The main share of the payment is received by the data provider. There are three parties that can receive a cut of the sales price: the market provider for running the data market, the infrastructure provider for running the technology stack for the data market, and the Cros project, as a license fee for the Cros technology stack.
Infrastructure for a data market may be run by the market provider or by independent carriers. The cut for infrastructure carriers allows third-party carriers with automatic payments.
Cros token balance changes based on key purchases are kept in state channels. The clearing of these updates the Cros token balances in the Cros token contract on the global Ethereum blockchain. Transfers of tokens occur directly between the token holders.
Interoperability
For the blockchain to be truly commonplace in everyday life, the technology must be able to connect, corporate, and collaborate with individual, independent blockchains that operate across all use cases. In other words, interoperability is key for mass adopted use.
Cros looks to make this interoperability a foundational principle of the network, to allow simple transfers of value and information between blockchains. The simplest way of visualizing Cros' role here is to imagine Cros as an omnidirectional bridge between all other blockchains.
Cros' blockchain sits in the middle of these other blockchains, managing and translating transfers between enterprise side chains and other major blockchains like Ethereum. Cros' blockchain also enables the exchange of information between enterprise partners’ public or permissioned chains for identity management and encryption. Businesses can freely assign, issue, and combine digital assets that stand for real-world assets.
Polygon’s ability to interact with the wider DeFi environment allows transfers of value of all types to be made without friction — to the end-user, this complex procedure is just a click of a button. By using Substrate, Cros gives enterprises an easy on-ramp to develop and publish blockchain-based tools and features.
DeFi
As discussed earlier, DeFi is exploding, and will only continue to boom with the mass adoption of the blockchain. While there is the obvious benefit of peer-to-peer individual De-Fi lending, the bigger picture will see enterprises being able to leverage sidelined capital.
The Cros Network has enough liquidity to truly transform DeFi at an enterprise scale, allowing businesses to create user-friendly payment systems for their customers, all while optimizing their financial operations. It’s a win-win scenario for both enterprise and customer.
The benefits don’t end there either — Cros' DeFi solution will allow the creation of vendor-to-vendor collaboration, enterprise-specific marketplaces, customer payments, vouchers, asset conversion, and much more.
The benefits of switching from the traditional payment system to the freedom of Cros' DeFi are plain to see.
Private Networks
Cros believes it should do its best to encourage enterprises to take advantage of the blockchain as much as possible — that’s why Cros is enabling businesses to create their own private, permissioned, or stand-alone blockchain networks within the wider Cros Network.
These customized blockchains are built on the proven Substrate platform, which means it will smoothly unify with any Substrate or Polygon-based Layer 1 network as a secondary chain.
With Cros, owning an enterprise-specific blockchain network can truly be a friction-free experience. Private networks can be pre-made packages or tailormade, all while retaining the inherent advantages of privacy and security.
Any private network built on Cros' network will also have the ability to provide digital assets that represent real-world assets, such as vouchers, payments, or loyalty points. These digital assets can then be issued to and from user app wallets.
Cros' Tools of Operation.
The Cros Token
The CROS token is a fixed supply fee settlement token for the CROS platform. The token facilitates additional functions as a governance token (via its staking process) and as value transfer. The CROS token will be issued as an ERC-20 token. Cros is built on the proven Substrate platform, which means it will smoothly unify with any Substrate or Polygon-based Layer 1 network as a secondary chain. The CROS token is the utility and governance token of the Cros platform with the following properties:
-
The CROS token is an atomic unit of value exchange inside the Cros ecosystem, creating a transactional economy between sellers and buyers.
-
This ecosystem allows users to both earn value and to spend it on services inside the Cros ecosystem.
-
The CROS token fuels the Cros Ecosystem, and powers the Decentralized Data Oracle.
-
The CROS token proposes and votes on changes to the network’s development, including parameters, e.g., staking, payments, and liquidity.
-
The CROS token funds the creation of the platform.
The CROS token has the following initial distribution:
Fee settlement. Any purchase of decentralized Data Oracle capacity on the Cros platform can be made in any supported token. The Cros platform collects a 0.2% commission on those transactions.
Payments made in CROS, however, receive a 50% discount on the transaction fees and are charged only 0.1% commission.
Liquidity mining event. To bootstrap the liquidity of the CROS token, Cros will dedicate 15% of all CROS tokens to liquidity providers on the platform. Those tokens will be placed in a reward pool, which will pay out 0.05% of its outstanding balance daily to all liquidity providers who stake their LP tokens, proportionally to the amount of their respective lending and borrowing positions.
The above setup makes the Reward pool non-depletable since the rewards are always distributed from the outstanding tokens in the pool. That being said the rewards become smaller over time.
The reward which each LP provider receives can further be boosted by locking the LP tokens for a longer duration as follows:
Where:
-
RS is the Reward Share of the user. Then the user receives a portion of the 0.05% reward distribution as the proportion of his reward shares to all reward shares.
-
TL is the number of LP tokens locked
-
M is the duration multiplier
Then we can further define M as a function of the duration in months (D) for which the LP tokens are staked.
Network Decentralization
One of the main functions of the CROS token is to promote the network’s decentralization. In order to do so, holders of the token will be eligible to vote on network changes. However, to ensure that the votes are always aligned with the network's best interests in mind, only tokens staked in the security module will be eligible for voting.
In order to ensure the stability of the project, this decentralization will happen gradually, over time, in three stages:
-
Early days - during this period, the Cros team is in full control of the project, and no voting is done. This is because there will be bugs and events which require immediate hotfixes and this cannot be done effectively in a democratic manner.
-
Semi-decentralization - during this stage, the team will take suggestions from the community via a forum, and proposed changes will be discussed. The ultimate decision on whether a change will be implemented or not remains the prerogative of the Cros team.
-
Decentralization - during this period, the team will put all changes to the network for a community vote via an off-chain voting solution like snapshot.
During Stage 3, Cros will follow a governance structure similar to this of Compound, and voting will be done via voting shares. Voting shares are obtained by staking CROS tokens in the governance contract. The logic for calculating voting shares is identical to the calculation of the reward shares for LP providers:
Where:
-
VS is the Voting Shares of the user.
-
TL is the number of CROS tokens locked
-
M is the duration multiplier
Then we can further define M as a function of the duration in months (D) for which the CROS tokens are locked.
Anybody with 1% of Voting Shares delegated to their address can propose a governance action; these are simple sets of activities, such as changing parameters of the platform that no one else can modify. Proposals are executable code, not suggestions for a team or foundation to implement.
All proposals are subject to a three-day voting period, and any address with voting power can vote for or against the proposal. If a majority and the minimum votes (i.e., quorum) are cast for the proposal, it is queued in the Timelock and can be implemented after two days. The quorum is currently set to 50% of all governance votes.
Anyone can also cancel a proposal if the original proposer loses the required vote power to create proposals (1% of total governance votes) after it was added. This helps prevent someone from making a malicious proposal and immediately withdrawing the governance contract’s votes.
During an initial seed launch period, a portion of the tokens will be distributed among the core contributors, who can delegate voting weight to themselves or the public as they see fit.
Scalability Solutions
One of the major barriers to mass enterprise adoption of the blockchain is the scalability trilemma discussed earlier. To combat this, Cros has combined the world’s most technologically advanced blockchain tools that allow for a fully decentralized data system that does not compromise security, speed, or scalability.
Automatic Concurrency Scaling
Cros' elastic oracle architecture allows for the orchestration of enormous concurrent workloads at scale in a decentralized system. This enables the Cros Network to overcome the pain points of traditional data silo systems:
-
No need to worry about the number of concurrent user queries
-
No added costs for isolating workloads to handle concurrent workloads
-
No need to create scheduling policies for user queries
-
No peak-time failures
All of these advancements create an environment where automatic scaling “just happens”; the user sets the parameters, and Cros takes care of the rest. Best of all, the entire system is decentralized, so there is no need to rely on one physical server system.
Decentralized Virtual Multi-Cluster Data Centers
Traditional virtual data oracles aren’t so virtual — they are just a series of physical nodes within a single physical location.
With Cros, users can statically or dynamically allocate resources all in the decentralized oracle as required.
There are two options for multi-clusters:
Auto-Scale Mode — Cros will initiate and terminate clusters as needed in a dynamic fashion.
Max Mode — When the virtual data center is initiated, Cros will run all clusters at all times to ensure the maximum allocation of resources.
In order to specify the minimum/maximum number of clusters, users on the Cros Network can either opt to use the user interface or use SQL.
Customize Your Decentralized Virtual Data Oracle
Like traditional virtual oracles, Cros Network users can resize their decentralized virtual data oracles with a click of the mouse. In Auto-Scale Mode, the Cros Network will automatically resume or add new data clusters according to the user’s predefined maximum, as needed. If the workload then reduces, the Cros Network will automatically pause or terminate those extra clusters. All the user has to do is set their minimum/maximum number of clusters, and the Cros Network will do all of the work automatically in the background.
Data Privacy
Scalability, speed, and reliability mean very little if privacy is not a top priority. For this reason, every aspect of the Cros Network is built with data privacy in mind.
Customer Privacy
For Cros, the privacy of Cros' customer data isn’t just about risk mitigation — it’s a point of pride built upon the fundamentals of our technology.
-
With Cros' decentralized format, no large partition of data is at risk of breach.
-
PII is anonymous and deleted when no longer required.
-
Clients have full control of sensitive data at all times.
-
Collaboration can occur without moving or sharing data, and without exposure of PII.
Tailored Data Compliance
Different companies in different localities will need to adhere to different regulations, such as GDPR and CCPA. Cros will allow enterprises to use a hybrid architecture to create specific permissioned conditions with blockchain-derived audit and authorization that will still be interoperable with outside networks.
Trusted Data Governance
Governance of any and all data held or transferred on the Cros Network will be done with the utmost care. Robust internal data policies ensure that all data is trusted, transparent, and cannot be undermined.
All customer data held on the Cros Network will be fully partitioned and encrypted. Application data uses randomized, anonymous IDs to further ensure user privacy. Only users with the appropriate private keys can decrypt and deanonymize their own data. Using differential privacy and federated learning techniques, decentralized data collaboration will allow for complete data anonymity in order to main user privacy.
Blockchain Consensus
While Cros will always endeavor to be a world leader in blockchain adoption, we acknowledge that this leadership will connect interoperable networks with independent wants and needs. Cros has no desire to rule the blockchains, only to enable them to work together with maximum interoperability.
To do this, Cros operates on a Byzantine fault tolerance (BFT) framework, which makes it compatible with Polygon. To allow for support with popular programming languages such as Ink!, Rust, and Solidity, Cros has incorporated Substrate’s Web Assembly (WASM) based Smart Contract engine. This integration with Substrate will allow enterprises the full use of runtime module libraries (SRML) alongside community support, allowing for the development of features for end-users.
The use of Substrate will also allow Cros' side chain offerings to define their own state transition functions (STF), allowing any two independent blockchains to swap information in whatever way the network owners desire.
Blocks produced on the main Cros Network will be under a proof-of-stake BFT algorithm and completed through a finality overlay.
Blockchain Governance
-
Transparency is key — Cros' blockchain network is governed by a Decentralized Autonomous Organization (DAO) for a fair proposal and voting system.
-
By its nature, the Cros system is designed to support all enterprise governance models, spanning public, to permissioned, to hybrid.
-
Cros token stakers can join in chain consensus to help keep the network secure and safe from black swan events. Cros Network validators will be incentivized through block rewards.
Cros Use Cases.
For true mass enterprise adoption, Cros is ready to serve every conceivable industry. While the scope for better customer experiences is virtually limitless, here are just a few use case scenarios that would benefit customers in specific industries.
Health
A health insurance company could partner with an independent fitness wearable company. The health insurance company could then directly interact with the fitness wearable user, offering a highly personalized product or service based on their data profile. This entire hyper-focused process would be done with complete security, privacy, and transparency.
Mobility
The Cros Network can offer personalized product and service offerings across first to third parties. Thanks to secure and anonymous customer data study and collaboration, travelers can receive highly customized discounts, vouchers, and upgrades that match their buying habits. This scenario is already in real-world use for Cros partner Bussr.
Financial Sector
Traditionally, banks will drive usage through simple and generic points, perks, and rebates. One size does not fit all, and so these generic incentives don’t always drive usage in an optimal manner. With Cros, banks and other financial institutions can offer their customers incredibly tailored incentives that are also completely automated.
Retail
Whether it be in-store or online, Cros creates the ultimate in personalized customer perks. Loyalty points, discounts, referrals, and even personalized fashion recommendations are a possibility. With Cros, all the guesswork in incentivization is removed.
Conclusion.
Cros aims to bridge the gap between real-world assets and the blockchain space, while simultaneously exposing cities and enterprises to secure data oracle and analytics, and introducing non-crypto savvy customers to the rapidly growing DeFi space.
We believe Cros has the expertise and robust framework to empower these populations and usher them into genuinely global and fair financial and data systems.
We have been encouraged by the interest that Cros has generated, as we believe it shows that many others share our aspirations for fairer, more inclusive global trade and data networks. We wish to change billions of lives for the better, and we are ready to act now.
-
Stankiewicz, K. (2021, February 24). MicroStrategy buys more than $1 billion worth of bitcoin, adding to massive holdings. CNBC. https://www.cnbc.com/2021/02/24/microstrategy-buys-more-than-1-billion-worth-of-bitcoin-adding-to-massive-holdings.html
-
Total Value Locked (USD) in DeFi. (n.d.). Defi Pulse. Retrieved April 5, 2021, from https://defipulse.com/
-
Total Value Locked (USD) in DeFi. (n.d.). Defi Pulse. Retrieved April 5, 2021, from https://defipulse.com/
-
McKinsey Digital. (2016, October 28). Straight talk about big data. Www.Mckinsey.Com. https://www.mckinsey.com/business-functions/mckinsey-digital/our-insights/straight-talk-about-big-data#:~:text=Big%20challenges%2C%20bigger%20opportunities&text=And%20we’re%20still%20in,that%20data%20has%20been%20analyzed.
-
BrainChip Holdings Ltd. (2018, September 10). BrainChip Announces the AkidaTM Architecture, a Neuromorphic System-on-Chip. Www.Globenewswire.Com. https://www.globenewswire.com/news-release/2018/09/10/1568247/0/en/BrainChip-Announces-the-Akida-Architecture-a-Neuromorphic-System-on-Chip.html
-
Holmes, A. (2021, April 3). 533 million Facebook users’ phone numbers and personal data have been leaked online. Business Insider. https://www.businessinsider.com.au/stolen-data-of-533-million-facebook-users-leaked-online-2021-4?r=US&IR=T