Tech start-up Nillion today announced that Slava Rubin, the Founder of Indiegogo and General Partner at humbition, is involved as its Founding Chief Business Officer.
Rubin joining follows a string of high profile entrepreneurs and executives that work at the start-up, including Founding Engineer of Uber, Conrad Whelan, Associate General Counsel of Coinbase, Lindsay Danas Cohen, Founding Chief Marketing Officer of Hedera Hashgraph, Andrew Masanto and Nike’s Lead of Innovation Partnerships, Mark McDermott.
Under Rubin’s leadership, Indiegogo raised more than $1 billion across hundreds of thousands of crowdfunding campaigns since 2008. After building Indiegogo, Rubin invested in the earliest stages of several unicorns and started humbition, an early-stage venture fund. “Having built an internationally recognized tech platform and being an active venture capitalist, I see new start-ups every week. It’s very rare I see such a powerful combination of technology, people and purpose that I want to get involved as an operator,” Rubin states.
Nillion is a web3 internet infrastructure start-up that is based on a new mathematical algorithm that changes the way data can be stored and processed online. The team sometimes refers to it as creating an ‘InterPlanetary Security System’ or ‘IPSS’ – a security variant of the popular web3 InterPlanetary File System (IPFS) protocol.
“When we started Indiegogo, crowdfunding didn’t even exist as a concept. No one knew how much better the world would be if we democratized funding. I feel the same way about Nillion. The world gets better when we’re able to securely split up and store data in fragments, while still being able to run meaningful computations on it. Once we can do that we’ll wonder how we ever got by without it,” says Rubin.
Unlike regular data storage, data stored on Nillion gets split up, fragmented and distributed across a decentralized network. Each fragment is individually unrecognizable (a security standard called ‘Information Theoretic Secure’) but can still be used for computations as though it was in original form. Distinctively, Nillion’s technology requires no inter-node communication, allowing computations to be performed at commercially viable speeds.
Rubin adds, “When I was a kid, my dad passed away from Multiple Myeloma. So the ultimate use case for me is that Nillion ends up accelerating medical research on cancer and other diseases. With Nillion, researchers could access millions of data points on people’s health without privacy ever being breached.”
According to Rubin, the technology will lead to the decentralization of a new category of use cases including secure storage, authentication, access controls, private and fast processing for blockchains and AI/machine learning. Rubin states “Nillion empowers people to store and share information and have control over how that information is used. It’s a future worth creating.”
About Nillion
Nillion is new internet infrastructure for the secure storage, computation and fragmentation of data. It is a decentralized network (albeit not a blockchain) that utilizes a novel mathematical innovation called Nil Message Compute (NMC) which represents a generational leap in a technology known as secure multi-party computation (MPC). Nillion facilitates the dispersion of data across a network of nodes, while allowing the underlying data to be computed on at commercially viable speeds.
To learn more about the company visit www.nillion.com
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