Zenotta launches first peer-to-peer digital trading system

By Sunniva Kolostyak

Swiss blockchain and data firm Zenotta has launched an electronic trade system to offer a decentralised programmable file format to provide handlers with sovereignty over their data.

The Zenotta Digital System (ZDS) turns digital content into digital assets, creating files that can be ‘truly owned’, with identity, rights, intelligence and privacy embedded at the data level. Any file type, including PDFs, JPEGs, MP3s or AVIs, can be converted into a Smart Data file with its own, unique DNA.

The solution has been created to address the so-called Data Problem, where the ever-growing value of data can be conveyed effectively but not used to reliably ascribe value, as data can be copied. The ZDS can impart provable uniqueness to data, solving the Data Problem, imparting true scarcity and therefore true value.

Roelou Barry, CEO and Co-Founder at Zenotta, explained that if a token is the medium of exchange in an economic system, files are the medium of exchange in a digital system, and after seven years of work, the ZDS is able to preserve privacy, compliance, and governance, ushering on the Internet of Files.

“Revealing the true value of a file is the cardinal purpose of Zenotta. Rethinking the very premise of what it means to attribute value to a file, Zenotta is provoking a shift in perspective in how we value our JPGs, PDFs, and PNGs. To date, the technological gentry has unfairly profited from data in possession, as the person in the street, corporations and governments unable to assign ownership and rights to their data. Giving data intrinsic as well as extrinsic value, we are moving beyond primitive utility by the unique ability to assign identity and rights to all files.”

Through a new type of blockchain network that allows for the trade of digital assets instead of merely payments, this value can be unlocked; economically, legally and socially.

According to the company, the possibilities of the network are endless: “Imagine trillions of connected, programmable files, with rights, intelligence and privacy assigned within the data itself. The possibilities for content creators, businesses dealing in digital products, or any individual, company, institution, or government, are immeasurable. The Internet of Value could therefore be realized as the Internet of Files.”

Also commenting, Andrew Kessler, CTO and Co-Founder at Zenotta, said: “At Zenotta, we are building on the genius of blockchain’s founding fathers and going beyond Ethereum-like smart contracts, which provide a limited execution functionality, to integrate legally binding and viable digital contract deployment. Furthermore, users can store Smart Data in a hot or cold state, eradicating the risk of loss of control and share ownership experienced in traditional data storage systems.”