Exclusive: Nuklai founder explains how the platform fixes a major issue facing the DeFi market

on Jun 4, 2024
  • Matthijs de Vries discussed Nuklai's integration with Peaq on Monday.
  • Nuklai founder expects layer-1 blockchains to attract strong demand.
  • Here's what else he told Invezz in an exclusive interview this morning.

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Matthijs de Vries – the founder of Nuklai discussed integration of the layer-1 solution with Peaq in a recent interview with Invezz.

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Why did Nuklai integrate with Peaq?

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The said integration ensures privacy and enables owners to “maintain complete control over their data”, he told our experts this morning.

Nuklai, de Vries continued, doesn’t just collect data but contextualizes it as well with metadata and tags to make it “much more valuable and usable”.

That will enable IoT and DePIN companies building Peaq to “uncover new patterns and insights that would otherwise remain hidden”.

Integration with Peaq creates a “vast repository of high-quality contextualized data” that is particularly useful for training AI models for more accurate predictions, Matthijs de Vries argued in an interview today.  

Peaq is also a layer-1 blockchain that enables the Economy of Things (EoT).

Layer-1 blockchains to attract strong demand

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Matthijs de Vries is convinced the word blockchain is no longer associated with cryptocurrencies only.

In fact, purpose-built layer-1 blockchains like Nuklai, he expects, will attract strong demand as different industries continue to realise the related benefits of optimised performance and enhanced security moving forward.

Specialized blockchains tend to offer improved security and optimised performance.

De Vries agreed that individuals and small companies typically find it rather difficult to enter the data economy which he dubbed a major challenge currently facing the DeFi market.

Nuklai, however, has set out to resolve that problem with its decentralised platform that makes managing and monetising data ever-so convenient, he revealed in the interview with Invezz today.

We generate vast amounts of data daily, yet we rarely have control over it. Nuklai changes this and makes data economy accessible to everyone, providing tools and platforms for data sharing and monetisation.

Demand for accuracy in artificial intelligence and large language models will further integrate data-sharing solutions into the DeFi ecosystem moving forward, the Nuklai founder concluded on Monday.

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