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OMNIA protocol

OMNIA protocol

Team Members

  • Nick Shibanov
  • Joshua Fourie

Website

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We are empowering individuals with ownership and confidentiality over their data. We are making data more accessible to the parties who value it most through a simple shift in the way data is used – sensitive and identifiable data is never revealed in our secure computation marketplace.

 

The Idea

We are building a platform which shifts the way data is used by firms. Rather than individuals giving up their data to a firm to perform computations on, firms issue computations in packages we call 'orbs' which compute on raw data and output an output which is unidentifiable yet still useful to that firm.

We provide firms with the ability to perform aggregate computations on the data that users agree to provide. This way, they can see the whole picture but can never magnify down to the level of an individual. 

Our primary initial focus is on creating a next-gen loyalty program for private health insurance firms. The PHI firms using our platform will go from being payers to partners with their policyholders. 

The Market

We are targeting two different categories of customers for two different purposes - the two categories can and will overlap. The first category is comprised of the privacy conscious individuals who see the vision of a world where people are compensated for the data they generate whilst maintaining confidentiality over that data.

The second category is primarily the younger demographic (18-30) who have become accustomed to extremely personalised services. This customer segment tends to be of above average health compared to the whole range of policyholders with a health insurance firm.  

The Competition

There is no one who is targeting local execution of computations on data being generated on smartphones - to this end we have no competition. The verifiable computation scene has many different approaches all with their own particular use-cases, advantages and disadvantages - we take an approach different to everyone else.

With regards to the PHI use-case, current loyalty programs and ecosystem services are all quite similar. In Australia, our competitor would be AIA vitality program for members of AIA life insurance. They have a similar approach of trying to engage with consumers through their rewards program however we intend to have a much more comprehensive rewards scheme which will result in consumers gaining more value from their insurer and the insurer attaining more value from their policyholders. Moreover, their data policy section is ambiguous around the storage and use of consumers data.

The Vision

Ultimately, we are looking to create a new standard in privacy. We are looking to spread across all industries who use data - personal data is just the start. Our venture is highly scalable and is looking to be a global leader in a new movement, one which aims to make privacy the default setting.

We are starting with a primary focus on the health insurance industry but our loyalty program ecosystem service is applicable across all industries with loyalty programs - a new generation of loyalty programs is possible on OMNIA. Beyond this, we have an interest in targeting advertising and social media services. We welcome all those who can bring value to the users of OMNIA.

Mentor Pitch

We are building a platform which preserves and enhances the utility of current data practices whilst ensuring that generated data is never revealed to anyone. OMNIA gives firms and other interested parties access to compute on data but never to see it on an individual level. Suddenly, people are able to control and make their most sensitive data available in a highly accessible manner and significant costs and risks associated with accessing data are obviated - you can’t have a sensitive data breach if you never have any sensitive data. We are three highly driven best friends with nothing to lose and everything to gain with an experienced board of advisors. Ideas like ours don't come around very often, what we need is someone who sees our vision and can help us clearly communicate it.

The Customer Experience

We offer Private Health Insurance (PHI) firms the ability to create a loyalty program on our platform. The first foundational client will be working closely with us to create the first orb on our platform. They will hear of us through the contacts we have established in the field once we are ready to approach them. They will help us in establishing a baseline subscription fee for future firms in exchange for access to a platform which significantly reduces the costs and risks associated with current data usage practices.

Communication will be on-going and likely done through face-to-face meetings, emails, and video calls. The first firm building on the platform will be a partner and likely play an important role in the marketing end of the application.

The Team

Together, we cover the skills necessary to execute every aspect of this venture. From the technical execution to the business end of the venture, we have the necessary skills to successfully execute. To bridge our gap of inexperience, we have constructed an experienced board of advisors covering the non-technical & technical spectrum. We have constructed and are continuing to construct a network of individuals in the fields of PHI and loyalty programs. We will continue to work with them to ultimately obtain our foundational client.

We are refining our whitepaper. It gives a complete technical overview of the platform and will shortly be available on our website. We have a pre-programmed prototype currently under construction. We have a lot of supporting documents, including a loyalty program proposition document which walks through our calculations of the proposed subscription range and outlines proposed cost shifts a PHI firm can make to pay for the loyalty program.

Key Resources

Beyond funding, people in the Health Insurance or loyalty program sectors who have networks in these areas are encouraged to reach out to us. We are looking for talented developers to join us in creating the privacy standard which will unlock the true value of the data economy. Beyond this, an opportunity exists for a mutually beneficial relationship for businesses who are interested in getting an edge over the competition.

We offer a low integration cost loyalty program that carries the marketing benefits of ethical branding through the fair-trade data stamp. Moreover, the loyalty program would encourage healthy living so we are particularly suited for businesses in the food, health, and wellness sectors. Please contact us through nick@omniaprotcol.com regarding any of these opportunities.

Funding Sought

The primary on-going cost of our business model is actually building the platform, with most being the payroll of future developers. We have broken down the costs into three tiers. 

With 5k we can cover the legal costs of setting up. This is based on a quote from Legal Vision. With 10k we can add to this a boost to technical development. With 15k we will have enough to build a pilot program, potentially for a major consulting firm and cover everything in the lower tiers.

With the highest tier, our dev will be able to focus all his time on this and quit his job. We would be able to hire some freelancers for useful tasks like coming up with a brilliant UX design. We will also be able to travel frequently to maintain important relationships with potential partners. 

Our Partners

We have established an advisory board to aid us both technically and with the business side of things. They also provide us with valuable contacts in finance and government for potential technical and financial support, and later use-cases.

We are currently building a potential partnership with a major consulting firm as well as a venture fund in San-Francisco which focuses on young founders with big ideas. The consulting firm would provide us with extensive potential clients and they would, in turn, receive the ability to take part in a new marketplace through an equity stake in our company. 

Our Revenue Streams

We are currently pursuing multiple customer segments including but not limited to: firms with employee wellbeing in mind, private health insurance firms, government, and anyone who sees value in the pilot program data we will have.

The 'lowest hanging fruit' is PHI and employee well-being. PHI firms would pay an annual subscription fee in the order of a couple million - possible thanks to risk minimisation, cost reduction, and cost shifts (such as cost of partner integration to cost of marketing). Employee wellbeing would likely be in the order of $2AUD per employee per month + economic incentive fund. Our revenue would only come from the $2 per month - the rest goes directly to employees in the form of incentives.