SINGAPORE / ACCESSWIRE / December 19, 2018 / COVA has signed a Memorandum of Understanding ("MOU") with Palatine Analytics and Perlin. Through these partnerships, COVA expects to expand use cases of data control in relevant industries such as AI and enterprise services.
According to Vincent Li, COVA's co-founder, COVA will have access to Palantine's platform and serve its clientele, in helping them solve diverse data privacy challenges. Palatine Analytics is an AI-as-a-Service company that allows firms to operate an agile goal-management platform for their employees. Palatine currently serves companies including Crystal Credit, a lending platform; Wissol Petroleum, an energy provider, and a water bottler called Aqua Geo.
On the other hand, Perlin is a decentralized cloud computing marketplace that leverages underutilized compute power in everyday smart-devices to make supercomputing economically viable and accessible globally.
Just in the past two months, COVA has secured partnerships with major blockchain projects, such as Terra and BitMax, respectively, a world-scale payment network based in Singapore and Korea with $25b GMV, and an innovative global operator of digital asset exchanges.
Mr. Li commented that these partners would give COVA a direct channel to understanding the data privacy challenges faced by various companies in e-commerce and AI.
For example, the partnership with Terra will enable the application of COVA's privacy-preserving data transaction infrastructure in e-commerce, especially those based in South Korea. Terra has secured 15 of some of the largest e-commerce partners in Asia - including Woowa Brothers, Qoo10, Carousell, Pomelo, and Tiki — which between them boast a cumulative 40 million customers and some $25 billion in annual transaction volume.
Dr. George Cao, BitMax's founder commented that this partnership will not only give better understanding of COVA to global crypto investors, but also help BitMax itself explore how to use store and analyze data as an exchange.
Setting out to build a new paradigm for data, COVA powers Smart Policies, a machine-enforceable data usage policy, which enables data to be transacted while prohibiting undesirable privacy-compromising inferences. COVA launched its private testnet at the end of July, and made all protocols open-sourced with full documentation last week. Learn more at www.covalent.ai.
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