Privasea: Decentralized Privacy Computing Infrastructure

Project Overview

Privasea is a pioneering DePIN (Decentralized Physical Infrastructure) network designed to prioritize data privacy and security throughout the AI computation process. Using innovative Fully Homomorphic Encryption (FHE) technology, Privasea enables computations on encrypted data, preserving privacy during AI model training and evaluation.

Privasea aims to revolutionize the blockchain and AI spaces by:

1. Enabling secure computations on encrypted data, preserving privacy throughout the entire workflow.
2. Providing a decentralized network of nodes for privacy-preserving machine learning and data analytics.
3. Uniquely combining AI, blockchain, and privacy technologies to enhance data security and control in Web3.

With a focus on scalability and user-friendly solutions, Privasea offers a robust infrastructure with intuitive tools to build privacy-preserving applications across various domains, including finance, healthcare, and AI.

Key Features

1. Privasea Token: Native token used for network transactions and as staking collateral for nodes.
2. Solana and Arbitrum Integration: Leveraging the scalability and efficiency of EVM/SVM ecosystems
3. Privasea Nodes: Decentralized network of nodes providing computation power for FHE operations.
4. Fully Homomorphic Encryption (FHE): Allows computations on encrypted data without decryption.

Node Opportunity

Privasea offers a unique investment opportunity through its combo nodes, combining cutting-edge technology with potential rewards for early adopters:

Privasea's combo nodes represent a compelling entry point for investors looking to participate in the project's growth. These nodes consist of Workheart nodes – PoW (Proof of Work) USB hardware that performs critical computations using Fully Homomorphic Encryption (FHE) – and Starfuel NFTs, which act as reward multipliers.

The combo nodes form the backbone of Privasea's DePIN architecture, offering several advantages:

• Limited Supply: Only 5,000 combo nodes will be produced out of a total 20,000 nodes, ensuring scarcity.
• Enhanced Rewards: Combo node operators receive a reward multiplier, potentially increasing their returns.
• Exclusive Airdrop: Only the 5,000 combo nodes are eligible for an exclusive airdrop, accounting for 1% of the total token supply.
• Long-term Benefits: The reward distribution is planned over 36 months, encouraging long-term participation.
• First-Mover Advantage: Early node operators may benefit from higher rewards, especially in the initial months when fewer nodes are active.

By operating a combo node, participants not only contribute to the security and efficiency of the Privasea network but also position themselves to potentially benefit from the project's growth and success in the rapidly evolving AI and privacy-tech sectors.

Technology Stack

Privasea's full tech stack works synergistically to ensure data privacy for AI models:

1. HESea Library: Enables secure computations on encrypted data
2. Privasea API: Provides tools for integrating privacy-preserving AI capabilities
3. Privanetix: Powers secure computation using high-performance nodes
4. Smart Contract Kit: Promotes fairness and active participation in the network

ImHuman App Showcase

• Successfully launched on App Store and Google Play
• Over 250,000 proof of humanity NFTs minted on Solana in its first 15 days
• Offers secure KYC and face recognition while protecting user biometrics

Node Utility

Privasea nodes play a crucial role in the ecosystem:

• Provide decentralized computation power for FHE operations
• Earn rewards for processing private computations
• Contribute to the security and scalability of the network
• Participate in network governance (to be confirmed)

Token Utility

• Transactions within the network
• Incentives and rewards for node contributors
• Governance and voting rights
• Staking for network security
• Access to exclusive features and ecosystem partnerships

Traction

Privasea has a first-mover advantage in FHE-based applications for machine learning. It is compatible with both Web2 and Web3 platforms while maintaining a decentralized architecture for improved efficiency and cost-effectiveness. From a security standpoint, Privasea is competitive with competitors like Worldcoin when comparing segments like biometric verification.

Network Growth

• ImHuman App launched on App Store and Google Play, minting over 240,000 proof-of-humanity NFTs
• Solana and Arbitrum Integration

Partnerships

Privasea has established strategic partnerships, including:

• Zama: Established open-source cryptography company building FHE solutions for blockchain and AI
• BNB Chain: Privasea has officially joined BNB Chain Greenfield as a Storage Provider as part of their testnet, integrating with one of the largest blockchain ecosystems.
• TON Ecosystem: Privasea is developing privacy protection infrastructure for TON, incorporating FHE-based authentication models for Telegram users.
• Research Institute of Sweden: Developing a platform for privacy-preserving data sharing that fully complies with GDPR, enabling secure and valuable use of vehicle data.
• Google Cloud Web3 Program,  Volvo Group, Gate Web3, Chainbase, Fhenix, easeflow, EthSign, Jambo, Medical AI, AIRian, Solana, Arbitrum

Privasea Fundraising Summary

Total Token Raise: $10.45M

Key Funding Rounds

• Seed Round: $5.00M
• Date: 4 Mar 2024
• Notable Investors: Binance Labs, MH Ventures, Gate Labs

Strategic Round: Undisclosed amount

• Date: 4 Apr 2024
• Notable Investors: OKX Ventures, Laser Digital, Tané

Pre-Seed Round: $750K

• Price: $0.015
• Tokens Sold: 50,000,000

Notable Token Investors

• Binance Labs, OKX Ventures, Gate Labs, Nomura’s Laser Digital, Tane Labs, MH Ventures, K300 Ventures and others

Token Sale Details

• Token Symbol: N/A
• Blockchain: ERC20
• Total Raised: $10.45M

This fundraising summary demonstrates strong investor interest in Privasea, with backing from major players in the cryptocurrency space. The project has successfully raised funds through various rounds, including a significant seed round led by Binance Labs.

Development Milestones

• Contributed innovations to the OpenFHE open-source repository
• Integrated Privasea AI Network on BNB Greenfield for secure decentralized data storage and computations during testnet phase.
• Released Privasea Testnet V1, including CLI, incentive smart contracts, TFHE-based computation nodes, and FHE ML Model Compiler.
• Developed FHE-based privacy protection for user verification on TON.
• Launched the ImHuman App, verifying 250,000 real humans on Solana in 15 days.
• Collaborates with Volvo's CampX Incubator to create confidential AI solutions for the automotive industry.

Team

A team of experienced professionals in technology, data science, and blockchain leads Privasea:

• David Jiao (CEO & Founder): 15+ years in software and system engineering
• Ting Gao (Chief Research Officer): PhD in Applied Mathematics, ex-Machine Learning Engineer at Twitter
• Jeffrey Duan (Chief Science Advisor): Professor at Illinois Institute of Technology
• The team includes five researchers and two professors from top universities

Tokenomics

• Token Name and Ticker: N/A
• Blockchain Network: ERC20
• Node Price: Ξ0.27 ETH
• Fully Diluted Valuation: $50M
• Public Raise Amount: 135ETH / ~$350,000

Vesting Schedule

The nodes will release rewards for 36 months linearly vested.

Important Dates

Expected TGE Date: December 2024

FDV Explanation

Fully Diluted Valuation (FDV) at 5,000 active nodes: $43,264,565.59

Key factors:

• Total tokens: 76,666,666 (including 10M airdrop)
• Node price: 0.27 ETH ($663.39 at $2,457/ETH)
• Network capacity: 5,000 nodes

FDV increases with more active nodes. Rewards distribute over 36 months based on computation power, uptime, and staking.

Privasea plans to buy back FHE demand to sustain rewards, aiming for a self-sustaining ecosystem.

Note: Actual FDV may vary with market conditions and project development.

Official Links

• Website: https://www.privasea.ai/
• Twitter: https://x.com/Privasea_ai
• Telegram: https://t.me/Privasea_ai
• Discord: https://discord.com/invite/yRtQGvWkvG
• Pitch Deck: https://docsend.com/view/s2ppkwmaucds3v3a

Terms and Conditions

This presentation is for informational purposes only and does not constitute an offer or solicitation to sell securities, nodes, or tokens in any jurisdiction. This presentation does not constitute legal, financial, or investment advice. Any information contained in this presentation is subject to change without notice. Investing in cryptocurrencies and blockchain projects involves substantial risk. Potential investors should conduct their own research and seek professional advice before making any investment decisions. The value of cryptocurrencies can be highly volatile, and investors may lose all or a significant portion of their investment. The project described in this presentation may be subject to regulatory scrutiny in various jurisdictions, and the legal and regulatory status of cryptocurrencies and blockchain technology may change in the future. It is the responsibility of potential investors to ensure compliance with all applicable laws and regulations in their respective jurisdictions. The information provided in this presentation is based on the assumptions and opinions of the project team, and there can be no assurance that the project's goals and objectives will be achieved. Past performance is not indicative of future results, and no representation or warranty is made regarding the accuracy or completeness of the information contained herein. By accessing or using this presentation, you agree to release the project team, its affiliates, and its representatives from any and all liability associated with the use of this information. You should not rely solely on the information in this presentation when making investment decisions. This presentation may include forward-looking statements that are based on the project team's current beliefs and expectations. These statements involve risks and uncertainties that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Investors should be aware that the regulatory environment for cryptocurrencies and blockchain technology is evolving, and changes in regulations or enforcement actions could have a material impact on the project and its tokens.

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