The Decentralised Knowledge Graph
Trace Labs specialises in a new technology called decentralised knowledge graphs. Layered on blockchain technology, these knowledge graphs – or smart databases – will be a key part of the next iteration of the internet – known as ‘web 3’.
To understand the importance of knowledge graph technology you only have to look at what Google has achieved since they launched the technology back in 2012. Because not only do knowledge graphs power Google search, but Amazon shopping and numerous smart phone apps like UBER.
All these knowledge graphs are centralised – built and maintained by the tech giants. But it has become ‘decentralised’. What we mean by that is that now, anyone with a computer, internet access a little knowhow can participate – essentially, you can help to build the foundations of web 3.
Decentralised knowledge graphs – or DKG – open up exciting new opportunities for businesses and institutions. The tech is already being used by the BSI – the British Standards Institute – for supply chain management of medicines and a training certificate verification system.
“We are delighted to be partnering with the leading blockchain provider, [Trace Labs]. The many sectors and communities we serve desire greater transparency of their global operations and OriginTrail’s distributed ledger technology allows us to build a robust and immutable verification ecosystem.”Pietro Foschi, BSI
The British Standards Institute envisage DKG technology to help businesses in food and healthcare industry to “comply with regulations and standards” and “Meet customer expectations concerning products features and claims (safety, quality and other attributes)”. Read the full article by BSI here.
In the latest use case, BSI launched a training certificate verification solution powered by the Origin Trail decentralised knowledge graph. On completion of a BSI course, a student can share with potential employers a blockchain-verified training certificate to demonstrate their training credentials are genuine.
Over the next year or so, we can expect to see more big names using the technology.
Want to learn how to set up and run a DKG node? Watch our online course.
Industries that can potentially benefit from decentralised knowledge graph technology are numerous, here are a few.
Without getting too technical, the best way we can describe a decentralised knowledge graph node is as follows:
Think of a container – an empty container – it is yours. You own it. You’re responsible for it. You maintain it and you pay for its upkeep.
Your container is not alone. It is connected by a cord to other containers owned by people all over the world. The containers are joined together to make a network where all containers communicate with each other.
Because the container is empty it has no function, no purpose. It is just an empty vessel. So let’s give it a purpose. What do we want it to do? Let’s give it a commercial use – something businesses can use.
As mentioned web applications and smart phone apps rely on smart databases – or ‘knowledge graphs’. When you do a Google search or ask Alexa something it is relying on smart databases to make a good guess as to what info you want.
So there is a commercial demand for smart databases – businesses building apps need them for their apps to work. So we are gonna add a smart database to our container. Now it is not just a container – it is a smart database connected in a network with which an app built by a participating business can interact.
This is a decentralised knowledge graph node.
Unlike the ‘centralised’ knowledge graphs developed by the tech giants, decentralised knowledge graph nodes can be set up and run by you and me. In this way, you could say a DKG is a knowledge graph ‘by the people’. Not one company or person is responsible for all nodes. That is why we call it decentralized.
Those that run DKG nodes or ‘node runners’ have a key responsibility. Because only if they keep the node ‘alive’ can businesses utilised their power.
Join the community that is building the foundations of web 3 by running a decentralised knowledge graph node. Watch our step by step video guide to learn how to set up and run a DKG node on the testnet. No programming experience required.
Don’t worry if you’re not a techie – we’ve made it easy for you. 45 minutes is all the time it takes. No programming experience required.
Yes – Any business that writes data to the decentralised knowledge graph node must pay $TRAC cryptocurrency to the node owner. Node owners automatically receive crypto without human intervention. As node owner, you must keep your node ‘alive’ and well maintained. Reliability is key to earning rewards.