Yannik Schrade, the CEO and co-founder of Arcium, recently shared some important insights on The Agenda podcast. He believes that encrypting everything and prioritizing privacy is crucial for businesses looking to grow their revenue.
Schrade emphasizes that encryption isn't just for those who are privacy-focused. It's something every business should adopt if they want to expand their market share by 2025.
Arcium describes itself as “the encrypted supercomputer.” Its mission is to decentralize and encrypt computing power. Schrade argues that this is essential for establishing a secure internet, benefiting both companies and individuals who care about privacy.
During Episode 53 of Cointelegraph’s The Agenda podcast, hosts Jonathan DeYoung and Ray Salmond spoke with Schrade. He explained how Arcium works and why encryption matters for everyone.
So, what exactly is an encrypted supercomputer? Schrade describes it as a network of globally distributed computers. Users can send encrypted data to this supercomputer. It processes the data without actually seeing it and then sends the results back. This allows users to run computations securely and trustlessly.
As an example, Schrade pointed to training AI models. Developers can use sensitive information, like personal health data from devices such as the Apple Watch. They can train powerful models without compromising anyone’s privacy.
“All of this data could be pooled together, but we can’t because there’s no single party we can trust with our data,” he said. “With confidential computing, it’s possible to have isolated, sensitive, encrypted data that gets pulled together, allowing computations to be executed without sharing any data with other participants.”
Schrade also highlighted that both AI and blockchain need privacy to be effective. He believes that privacy technology is essential for human progress.
Businesses and individuals can both benefit from privacy measures. While encryption often protects personal privacy, Schrade points out that it also offers a strong profit incentive.
With growing concerns about how big tech collects and uses data, consumers are demanding better privacy protections. This creates an opportunity for businesses to boost their revenue by implementing privacy-preserving technologies. These technologies allow them to handle sensitive data securely.
“They can use this kind of data with the user’s consent, without any risk of leaks or negative consequences,” he explained.
Schrade concluded that using advanced encryption is logical. It prevents data leaks, stops hackers, and avoids penalties. Plus, it makes customers happier and allows applications to use more data safely. This creates win-win situations across various sectors.
If you want to hear more from Schrade’s conversation on The Agenda, including insights on how crypto traders can benefit from encrypted computing, check out the full episode on Cointelegraph’s Podcasts page, Apple Podcasts, or Spotify. You can also explore Cointelegraph’s other shows!