Submission for the: Worbli Content Contest

A fundamental cornerstone for Worbli is compliance.

The Worbli re white paper states “Compliance: Enterprise business will benefit from full AML/KYC user account verification.“

Compliance can be enhanced in 2 ways; the first is compliance with GDPR, the second is compliance with the inherent need of privacy. Users in this space have a focus on privacy.

Worbli is using an open and transparent open ledger to provide the infrastructure of financial dApps. Privacy and finance go hand in hand.

There are two key components to turn this into a reality. The first is finding a way of making user transactions tally with the rest of the network but at the same time, make these transactions only visible to the parties involved. The second is a data market where users and business willingly share their data.

The oil of the new world is Worbli transactions will be visible to all, the platform is giving away valuable information. Users want to keep their financial affairs private, and this is also a requirement for GDPR.

Before we take a step further. Let’s bring more context. What kind of applications could run on Worbli

Core Services

  • Insurance
  • Supply Chain Interactions
  • Auditing of assets
  • Tokenization of assets such as Company Ownership, Property, Art, Royalties
  • Providing a debt-clearing order book this could include
  • short-term credit to companies,
  • True peer to peer lending not via a fractionalized intermediary

Other Services

  • Gambling / Casinos
  • Adult industry

Supporting services

  • Merchant accounts
  • Social Trading / Copy Cat Trading.
  • Managed Investments
  • Credit Ratings
  • Investment comparison services
  • Ratings for both users and financial service companies
  • Financial Advisory services

The core services need to interact with each other. The supply chain process would want to audit sensitive transitions for high-value objects. The investors would want to invest in companies which have issued tokens from audited companies with reputable credit scores. All this info can be on the blockchain, but it needs to be accessible only to authorised parties.

The above paragraph contains many interactions between different entities. There are challenges to share this data openly; the first is because data is a competitive advantage and secondly because no one would want to put sensitive identifiable information open to all on a blockchain.

A possible solution is to monetize data and make it available more securely via adjustable data bridges. These would open and close according to the decryption keys provided by the users, Users will be able to share, sell or hire their data on a Worbli data market. The market will provide the decryption keys according to the user settings.

There are four types of data markets, and each of these markets has different types of data requirements.

  • B2C: Business to Customer
  • C2B: Customer to Business
  • I2BC: Device to Business or

Each of these bridges could be opened by decryption keys. Data users can make a request or an offer via the data market and users can allow access to their data accordingly. For example, an insurance company would like to check your Worbli account and it finds that you are a low-risk taker because no gambling games were played, then it can check your investments on Worbli and again they are in relatively safe instruments. Your insurance could then be adjusted lower given this evidence.

Open and Free Data Bridge:

Data which is open to all users of the chain and sub chains. This is the typical blockchain ledger.

Open and Priced Data Bridge:

Is data which is accessible to all but has a price.

Permissioned and Free Data Bridge:

Anyone can request access to this data, but permission will not always be granted. Data is free.

Permissioned and Priced Data Bridge:

Anyone can request access to this data, but permission will not always be granted. Data is not free.

Closed and Priced Data Bridge:

This data is only accessible to entities which have been pre-approved. The existence of this data on the data market will be restricted to the pre-approved.

Adding privacy transactions to Worbli

EOS’s infrastructure does not permit private transactions at this time, so Worbli cannot either but many financial dApps will find privacy one of their key concerns when using an open ledger. How can transactions be made private on Worbli, here are a few ideas …

Pandoras Blocks

Each user would be able to provide the key to unlock the visibility of their transactions within a particular block, term or token history. The block producers would have access to this key for the period they process the block, but then this key is auditable destroyed.

Chameleon chains

These chains can only be decrypted with the right key. The block producers and chain owners can always see all transactions, but the from and to addresses would be invisible to them unless the transaction owners permit them to do so. Block producers would need to sign an NDA on all blocks they process.

GDPS Complaint Tokens issued on child chains

These tokens can be visible by the user and the token issuer by default, and other entities can see the transactions only if they have the right key to unlock their visibility.


KYC/AML makes Worbli the go-to chain for financial applications. In addition, any financial district needs a robust communication infrastructure which is as GDPR compliant, as blockchain allows. This communication should add value to its users by giving them assurance that it will be private and secondly by monetising it.

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    1. Nodes of Value Post author

      Unfortunately, I am not aware that any such systems have been developed. however, I do not think they are impossible to develop. To be more compliant we do need something of the sort and I thought I could get the ball rolling here.