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Data Lake Transcript

October 21, 2022 / 1:00 pm

Satoshi Club, Data Lake
500$ prize
Read Recapitulation
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Part 1 — introduction and questions from the Telegram & WebSite

PPavel P

Greetings to everyone and welcome to our Friday AMA Session with Data Lake!

PPavel P

Let's welcome our guest @usernameisandrea!

AAndrés M. | Satoshi Club

Hello dear community, it is a big pleasure to be with you again. Today we are going to talk about an interesting and innovative project, our friends from Data Lake are here.

AAndrés M. | Satoshi Club

@usernameisandrea welcome to Satoshi Club.

AAndrea 💙🔗

Hi there, thanks for having me!

PPavel P

Glad to see you with us Andrea!

AAndrea 💙🔗

It's a pleasure to be in Satoshi Club!

PPavel P

How is it going this Friday ?

AAndrés M. | Satoshi Club

We are glad to have you here!

AAndrea 💙🔗

All good, gladly busy answering to all the users who joined data lake from satoshi club

PPavel P

Wow! Already bombarding you with questions?

AAndrés M. | Satoshi Club

Haha, yes, we have a very curious community.

AAndrea 💙🔗

Yes ahah, we have heard good things about your community and they were all true!

PPavel P

Great! So, let's start then to see some more great questions from our community members

PPavel P

However, we will start with a short intro

PPavel P

Please tell about yourself - your role in Data Lake, your past crypto experience and how that idea of Data Lake appeared?

AAndrés M. | Satoshi Club

Yes, please tell us in a nutshell, what is Data Lake?

AAndrea 💙🔗

Sure, I will start talking briefly about myself.

AAndrea 💙🔗

I'm Andrea and I joined crypto in 2020. I found myself passionate of the idea of blockchain as a tool to improve the world, so I created my own community, ran a couple more, gained experience until I incured into Data Lake. I embraced their mission and vision since the first time I've read about them and here I am representing them in this splendid AMA!

AAndrea 💙🔗

About Data Lake: Data Lake is a startup which has received funding from the European Union, and our mission is to unlock and democratize access to medical data.

AAndrea 💙🔗

To do so, we have built an infrastructure on the Polygon blockchain that allows anyone to register and give us consent to access their medical data on their behalf - anonymize it - and make large anonymous datasets available for researchers and private companies who need them to develop new cures and treatments for illnesses.

AAndrés M. | Satoshi Club

we share the same thinking about blockchain.

AAndrea 💙🔗

Patients then get rewarded for their active donor status in $LAKE tokens.

PPavel P

Why the medical area was chosen as a base of a project? Do you have a medical background?

AAndrea 💙🔗

That's correct, our co founder are Forbes 30 under 30 medical doctors who felt the need to unlock medical data while curing their patients

AAndrés M. | Satoshi Club

Btw, what are the main usecases of $LAKE?

AAndrea 💙🔗

Their names are Wojtek and Ligia, you can see them here https://data-lake.co/team/

PPavel P

Great to know that! So, the area is not new for team members.

AAndrea 💙🔗

No, defenitely not

PPavel P

And the team members are not anonymous. That also provides more trust from the community

AAndrea 💙🔗

we have no reason to hide, we're super proud of what we are building!

AAndrés M. | Satoshi Club

We are glad to see you are a public team, that generates confidence.

AAndrea 💙🔗

thanks for asking

AAndrea 💙🔗

Unlike many other tokens that just rely on speculative investment, $LAKE token has both use cases as well as a product driving its economy.

PPavel P

And personally, I'm happy to see social projects in crypto as this is definitely a future

AAndrea 💙🔗

Used as an entry ticket into the medical data economy for business players, data buyers and researchers will pay in FIAT to buy access to anonymous medical data, 40–97% of the value of which — in the mature stage of the Data Lake ecosystem — we will convert into $LAKE tokens and be distributed to several stakeholders of the system, added to the liquidity pool, and placed into vesting contracts which will reduce how many $LAKE are circulating over time. The demand for medical data is enormous, as proven by the hundreds of thousands of euros in pre-orders we have already received.

AAndrea 💙🔗

$LAKE will be an ERC-20 token and we just announced yesterday that its IDO is scheduled for 7th December this year! For more information, I invite you to read the Medium we published about it: https://datalaketoken.medium.com/announcement-the-lake-ido-e73ffb3ec185.

PPavel P

Wow! That is impressive!

PPavel P

Satoshiclubbers, add the date to your calendars!

AAndrés M. | Satoshi Club

Great news, let's check the link, Satoshiclubbers

PPavel P

I think we now have an idea of what the Data Lake is and can proceed to community questions selected for Part 1

PPavel P

Are you ready, Andrea?

AAndrea 💙🔗

let's go!

AAndrés M. | Satoshi Club

@usernameisandrea thank you so much for this exciting introduction

PPavel P

Q1 From Telegram User @Thisistoyin I really do Appreciate the initiatives and revolution your Platform is bringing to the World. These is indeed one of the best ideas i have seen so far in Blockchain technology. However, i am very much interested in knowing more on how Researchers and data donors could get access to your Network, since it was stated that we have to get Verified in other to start making use of Your Network, i would like to have an idea on how your Verification process is done. Would you be accepting Donations from every part of the World? And since sharing of Medical data’s would remain anonymous, i am quite curious to know how you plan on Validating these Medical research data’s, how do you screen out and separate correct and incorrect Data’s sent from Researchers? Who are the Validators of Data’s been Submitted?

AAndrea 💙🔗

Great questions!

AAndrea 💙🔗

So to begin, our primary “barrier to entry” on the researcher side is to ask whether the researchers or organization wanting data is doing legitimate research and development. For example we’re not going to give a health insurance company access to someone’s data in order to inflate their insurance rates.

PPavel P

Fair enough!

AAndrea 💙🔗

But one of our goals is to democratize access to medical data, and small startups and other under-funded research groups can’t afford typical access to medical data - so as long as they’re doing research that has a legitimate purpose we want bring as many people into the ecosystem as possible.

AAndrea 💙🔗

For now our donor system is going through a pilot program in Polish healthcare facilities, and we’re signed with “data providers” representing half a million patients. We definitely will be expanding globally, and aim to be legally and technologically ready to receive donations from any country (provided it’s legal to do so in that country).

AAndrea 💙🔗

For validating the data, we are using KYC to authenticate someone’s identity, after which we get their records directly from the hospital without anonymization. We can then confirm we have the right person’s medical records based on the KYC before anonymizing the data. This way we can assess the integrity and identity of the data donor and their medical records before anonymizing it for use by researchers.

AAndrea 💙🔗

Hope it's clear. The question was quite tricky, but we though about this issue and came up with this compromise as solution.

PPavel P

Yes, so from one hand you collaborate with local authorities and medical institutions to implement the program of DATA collection and from the other you help medical companies and laboratories analyze collected DATA for their researches

PPavel P

Besides polish local medial institutions, who else is in your roadmap?

AAndrea 💙🔗

yes, it all starts with people donating their data and being rewarded in LAKE by doing so

AAndrés M. | Satoshi Club

At the moment, have you partnered with hospitals and medical organizations? Could you mention some of them?

AAndrea 💙🔗

We will expand as much as possible in 2023, once the system and the token will go live. we will target Europe first.

AAndrea 💙🔗

Yes, here's the medium about our first data provider integration: https://medium.com/@datalaketoken/we-have-reached-an-agreement-with-the-first-data-provider-9da3b0d6449c we have also already collected data demand for hudreds of thousands of $, and our system isnt live yet!

PPavel P

This is breathtaking and shows a great demand for your work!

AAndrés M. | Satoshi Club

Congratulations for your partnership, this is just the beginning and you have grown quickly.

PPavel P

Thank you, Andrea for detailed answers! Ready to proceed to the next question?

AAndrea 💙🔗

I was born ready

PPavel P

Q2 From Telegram User @charlest1997 I checked from your whitepaper that Data Lake System can be divided into 3 parts : Consent App, Data Processing System, and $LAKE App. I wanna ask about Consent App because you mentioned that the consents are given to users that already done KYC. But, you also mentioned that the users of Lake Data are anonymous. So, Could you please clarify how to stay anonymous with KYC implementation ? I also noticed that the vast majority of medical data is stored in hospitals, clinics, and laboratories. So, Could you tell us about the background of hospitals, clinics, and laboratories that are working with Data Lake ?

AAndrea 💙🔗

Also some excellent questions.

AAndrea 💙🔗

So we have to do KYC to be legally secure in requesting someone’s medical records. This is a legal process using blockchain technology. Once we have their records, the anonymization process happens before data is sent to any external party, and only of course with the express legal permission of the donor. ny data controller in our system (could be us, could be a national foundation) has the same legal duties to protect your data and identity as any other entity. For us that means adhering to GDPR, Data Governance Act and European Health Data Space legislations as we’re in Europe.

PPavel P

Talking about the KYC, are there any barriers whose medical DATA will not be accepted and therefore compensated?

AAndrea 💙🔗

The consent system and data anonymization system are completely separate to ensure that data cannot be de-anonymized or comparative analyses made. ⚠️ Personal data never goes on the blockchain, and certainly medical data in any form never goes on the blockchain.

AAndrea 💙🔗

No. Once the supply of data from a user meets the demand from a researcher, the user gets rewarded in LAKE toekns.

PPavel P

The regulation on personal data is quite severe nowadays in major number of countries meaning that if you operate there you must respect privacy.

AAndrea 💙🔗

About @charlest1997's second question, I mentioned earlier we are working with hospitals and clinics (“Data Providers”) represent more than half a million patients in Poland, including a research-oriented hospital in Warswa. We’re in various stages of negotiations with many others as well, and will likely be expanding to other European hospital and clinic networks in the coming months and years. So we’re contacting a broad array of hospitals and clinics, and once they see that this is a legal way for them to offset their data storage costs without legal liability, they are overwhelmingly interested and in support of our idea.

AAndrea 💙🔗

Yes, and we completely agree and comply with all the measures to protect privacy!

AAndrés M. | Satoshi Club

Do you KYC only donors or demanding organizations as well? I mean, how do you verify that medical info don't fall into the wrong hands?

AAndrea 💙🔗

we do extensive research on who's buying data (which, I remind you all, is anonymized)!

PPavel P

Perfect! Thanks, Andrea! Let's proceed to the question nr 3.

AAndrés M. | Satoshi Club

Excellent, everything seems legit, and is great to know you care primarily about the donors

PPavel P

Q3 From Telegram User @Rozielyna I am Looking forward to Your Token IDO $LAKE is schedule to take place On December 7th 2022. With respect to the IDO, can you share more details about it? What will be the Price of your token and on what Block chain will the IDO take place ? What will be the Utilities and Use cases of $LAKE token on your Ecosystem? What will be the benefit for Holding $LAKE token as a Long-term investment ?

AAndrea 💙🔗

Of course, we represent a democratic and fair alternative to the countries that commercialize data wihtout people's consent!

AAndrea 💙🔗

Yes, as I said above, for the IDO we have chosen to make things as easy and smooth as possible.

AAndrea 💙🔗

On December 7th — the exact time that will be announced closer to the IDO — we will provide liquidity for $LAKE as an ERC20 token on Uniswap, Ethereum 🦄, allowing LAKE to become publicly tradable!

AAndrea 💙🔗

LAKE’s use cases are the possibility to take part in the governance of the project, the possibility to access our benefits panel. It also has a strong tokenomics, as $LAKE token has a product driving its economy.

AAndrea 💙🔗

LAKE’s use cases are the possibility to take part in the governance of the project, the possibility to access our benefits panel. It also has a strong tokenomics, as $LAKE token has a product driving its economy.

AAndrea 💙🔗

Used as an entry ticket into the medical data economy for business players, data buyers and researchers will pay in FIAT to buy access to anonymous medical data, 40–97% of the value of which we will convert into $LAKE tokens and be distributed to several stakeholders of the system, added to the liquidity pool, and placed into vesting contracts which will reduce how many $LAKE are circulating over time. The demand for medical data is enormous, as proven by the hundreds of thousands of euros in pre-orders we have already received.

AAndrea 💙🔗

For more information about the IDO, check out our blog: https://datalaketoken.medium.com/announcement-the-lake-ido-e73ffb3ec185

AAndrea 💙🔗

Before we proceed to the 4th question, please allow me to talk about our Gleam contest

AAndrés M. | Satoshi Club

Could you share us the Tokenomics of this gem, please?

PPavel P

Absolutely, please go ahead!

AAndrea 💙🔗

https://data-lake.co/token/

AAndrés M. | Satoshi Club

For sure, go ahead 🥳

AAndrés M. | Satoshi Club

Thank you!

AAndrea 💙🔗

100 people among those who participate to our gleam contest through this link personalized for Satoshi Club will be winners for sure! Good luck! https://gleam.io/competitions/Nmxxe-data-lake-giveaway?mtm_campaign=GLEAM&mtm_source=satoshiclub&mtm_medium=AMA

AAndrea 💙🔗

The gleam competition ends in 2 days, and the jackpot is generous and real!

PPavel P

Wow! A great chance for our community! Guys, add the link to your bookmarks and do not forget to participate right after the AMA!

PPavel P

Appreciate your generosity with our community, Andrea! Ready to see the next one?

AAndrea 💙🔗

yess

PPavel P

And here we are:

PPavel P

Q4 From Telegram User @chukky10z Doing my research on the project I found out that you are a registered company in Poland. Have you acquired any authorized licenses from the relevant medical organizations and the Polish government? Is your team doxxed? Where can we know more about them? Going through your docs, I could find any security audits. Please elaborate on your security measures. How can you convince investors that they are free from any sort of rugpull from the project? Do you have a vesting system in place to secure the funds on your platform? Do you have a backup plan in place in the event of a rug pull or cyber attack? Lastly, I read that you currently support only Polish and English languages, how do you plan to develop your project in different languages for widespread adoption?

AAndrea 💙🔗

wow so many in one, let's go

AAndrea 💙🔗

Have you acquired any authorized licenses from the relevant medical organizations and the Polish government? Yes, we have deals with the first data providers and data buyers as metioned above ^

AAndrea 💙🔗

Is your team doxxed? Yes, and our founders are key opinion leaders in the healthcare sector, both awarded Forbes 30 under 30(https://t.me/DataLakeCommunity/29911)

AAndrea 💙🔗

Audits? I can confirm we are in process of auditing, but I can’t disclose any more information at the moment, when the audit report is published, we will be releasing an announcement!

AAndrea 💙🔗

As I said, we reallty care of matters as privacy, transparency and security. So an audit is the least we could do!

AAndrea 💙🔗

Do you have a vesting system in place to secure the funds on your platform? Yes, here it is

AAndrea 💙🔗

Do you have a backup plan in place in the event of a rug pull or cyber attack? Sure! We put security in the first place (we are also part of EY academy for this: https://t.me/DataLakeCommunity/30749) and we have a treasury to counter any eventual loss

AAndrea 💙🔗

last one how do you plan to develop your project in different languages for widespread adoption? Together with our expansion will come translations of our website and systems as well as local communitiees if needed. We have a global team, so that won't be a problem!

AAndrés M. | Satoshi Club

Perfectly disclosed, great job Andrea.

AAndrea 💙🔗

thanks, tried my best!

PPavel P

a short marathon of questions for Andrea!

AAndrea 💙🔗

ahahaha indeed!

PPavel P

Let's proceed to the next one! Nr 5!

PPavel P

Q5 From Telegram User @Julian_US On the 18th of this month, Data Lake launched its very first in-hospital data donation campaign. Data Lake’s mission is to enable better, more equitable and data-driven care for patients all around the world. To achieve this, you have created an ecosystem capable of unlocking the market of medical data, collaborating with all the stakeholders involved in the process. I would love to know how the in-hospital data donation went, How many hospitals did you visit? How do I become a data donor? Do I need to hold the $LAKE token to be a donor? I understand that only data donors who don’t withdraw $LAKE to external wallets can get benefits. How will these rewards be shared among data donors? Thank you.

AAndrea 💙🔗

Many thanks for your question @Julian_US

AAndrea 💙🔗

Our first data donation campaign went very well, and we have a high conversion rate when talking to people in the hospitals about becoming donors. We’re in two healthcare facilities right now, and will be in many more in the coming months! You don’t need to hold $LAKE token to become a donor - in fact you receive $LAKE token for donating your medical data! The best way to sign up is via our waiting list at https://donateyourdata.io - enter in your country and you’ll get an email notification as soon as data donation is live in your country! For the rewards system, active donors will continue to receive $LAKE tokens on a regular basis as being part of the system. You could revoke consent at any time and you won’t lose your $LAKE tokens you’ve gained previously of course. So you can always participate in the rewards system if you have $LAKE, but you earn more as long as you have active donor status. Rewards will be some amazing discounts and offers on healthcare and wellness products and services, but we’ll be announcing more on that soon!

PPavel P

There should be done a lot of informative work as the first step. To explain how the Data Lake works and that it is 100% secure

AAndrés M. | Satoshi Club

Is that the unique way to earn rewards? Or do you have any staking system?

AAndrea 💙🔗

We will also rewards those who provide liquidity

PPavel P

Personally, I do not see any barriers here as you help other people and get paid for the analysis of your medical DATA

AAndrea 💙🔗

Yes, part of our mission is to educate the public on the unexpressed potential of medical data and of course on how we fix this issue

PPavel P

So win-win for everyone!

AAndrés M. | Satoshi Club

Perfect, rewards for everyone, even long term holders.

AAndrea 💙🔗

Correct, the lack of incentives is one of the main issues of the current flawed system

AAndrea 💙🔗

correct!

PPavel P

Great! Ready to see the last question of Part 1?

AAndrea 💙🔗

yesss!

PPavel P

Q6 From Telegram User @Perlabee First, I want to applaud the good work the team is doing in growing the community. You project is indeed the first of its kind. I was going through your website and you mentioned that the infrastructure will be built on polygon network but the token will be launched on Ethereum blockchain, pls let us know the reason behind that and how feasible it’s going to be and I would simply like to know if the Ethereum merge will have an effect on it and if so, how? Community means a lot in DeFi and Data Lake is not an exception. Please talk about the actions that you take in order to build, keep and develop a community led by the same interest…

AAndrea 💙🔗

Thanks for your question @Perlabee we haven't talked about blockchain much so far, let's get into it We chose Polygon as it’s an L2 for Ethereum and it’s cheap, fast and scalable. We need all of these things to be able to build a global consent collection platform on a public blockchain. We needed to be able to cover the costs associated with each operation from every user, they had to happen quickly so people weren’t waiting around, and it needed to be scalable as we grow into new countries.

AAndrea 💙🔗

For the token itself however, Ethereum network is the most tried and trusted when it comes to tokens. The higher transaction fees are slightly annoying, BUT they stop bots from margin trading and other quick-transction tactics to manipulate price and pull their own profit. To answer your other question for us community is everything, and I know a lot of projects say that. But we’re doing more than just building a token - we’re building a global movement to save lives using web3 technologies and data. We’re also one of the leading projects in the DeSci movement, which is 100% community based right now as it’s not quite the mainstream buzzterm as it will be in the coming months. So core community of people who see our vision and support us beyond just a lambo-moon telegram group is hugely important, and something we’re constantly working on building.

AAndrés M. | Satoshi Club

Do you plan to become multi-chain into the near future?

AAndrea 💙🔗

no, there's no need for that as of now.

PPavel P

And these are the doors to the growing Data Lake community - https://t.me/DataLakeCommunity

AAndrés M. | Satoshi Club

Incredible vision, great job including community in the development of the project

AAndrés M. | Satoshi Club

Let's join, Satoshiclubbers

PPavel P

While Andrea is choosing a new GIF with doors...

AAndrea 💙🔗

ahahaha cant find any ahahah

PPavel P

We get ready to proceed to Part 2 of our AMA!

PPavel P

The first one was really great and informative! Thanks, Andrea!

AAndrés M. | Satoshi Club

@usernameisandrea thank you so much for this perfect first part of the AMA. There is a lot of new information we have to process and that made us so happy

PPavel P

And get ready for some action now

AAndrés M. | Satoshi Club

@usernameisandrea prepare your fingers, btw.

PPavel P

We will open chat for 120 sec for a storm of questions to come

AAndrea 💙🔗

Yep, Data Lake may seem complex but it really isnt after all!

PPavel P

Once ze close it back, please choose 10 questions to answer Please do not answer any questions during the storm Get ready!

AAndrea 💙🔗

gotcha

PPavel P

Opening chat in 5

Show more

Part 2 — Live questions from the Telegram community

a@atharv_989

If anyone use your Data from your Data collection then in which Mode they have to Payment for it, Are you Going to take it in Fiat or in Cryptocurrency, Tell us about it?

AAndrea 💙🔗

Hello, researchers, companies, hospitals ecc. usually are not crypto friendly. That's why we will also accept payments in fiat, but then we will use those funds to buy back LAKE and distribute it to our stakeholders. Attached is our flow.

j@just_ice07

Is it possible for my personal data to be shared without my consent?

AAndrea 💙🔗

Absolutely not! Your consent isn't only needed to unlock your medical data, but also to approve (or decline) any transaction involving it. Moreover, everyone can REVOKE the consent over the use of his/her medical data anytime!

J@JoanaZ

Patient data must be handled securely because it typically contains personal and confidential information. How then are you going to persuade your customer that their personal information is safe? How does your system ensure that donated data is accurate and secure?

AAndrea 💙🔗

As soon as we collect data, we make them absolutely anonymous. Moreover, data will not be stored on the blockchain, but only your consent will, so there's no risk of a hack there.

c@chaiseNew

After Donation my DATA Can I Withdraw my $LAKE TOKEN or there is A Timing Fixed For the WITHDRAWAL ?

AAndrea 💙🔗

The LAKE you earn will be subject to a vesting period. The interaction with our token will be made simple by a tokenomics app our devs are building.

M@Marcos2002

Is DATE LAKE is the First Mover Platform in this Particular Field Or Other Platform Simlar to You Exists in the Market and Please list some Highlighting Features about your Project ?

AAndrea 💙🔗

Well for example Ocean Protocol is a well established crypto project that deals with data. However, while they do not specify in medical data and require users to upload their data, we only take care of medical data and require users to sign a transaction on the blockchain. Then the process of collecting the data themselves is up to us!

a@agroj

Please When you say your project isn't tokenized just for the sake of saying you have token...what do you mean by that.?

AAndrea 💙🔗

Hello, what I mean is that LAKE is not just a token born for the sake of financing a project. LAKE is backed by the ecosystem we are building around it. There will be practical use cases, real incentives and buy backs from the medical data purchases.

A@Asela1112

You aim to provide anonymous medical data for patients all around the world. To achieve this, You should collect the data of patients with their permission. So, Have you already do a survey or research to get to know their ideas & willingness regarding the providing their medical data?

AAndrea 💙🔗

In the last years there has been an expanding movement of people who blame the big corporations for the exploitaton of their own data. With our democratic, consent based and fair system, we provide a solution that solves the problem and at the same time incentivizes the real owners of the data, the people. If this isn't convincing, then I don't know what is :P

g@gwapa_27

What are the short-term objectives of your project? So many projects prefer to communicate about the short or medium mission and vision statements. What are you currently focusing on?

AAndrea 💙🔗

Glad you asked. Our priorities now are to audit and launch our product and to perform a smooth LAKE token launch (7th december on Uniswap)

a@alpaca_moeen

I Noticed that your Project is Funded by the European Union, And I think this is Really Huge, How did you Manage to Get Fund From European Union, Can you tell us More About it?

AAndrea 💙🔗

Sure. The European Union Fund has invested in us in our early stages (note that they don't have a LAKE allocation). We are in an extensive relatinship with European institutions. Europe has just launched the Data Governance Act, a document that encourages the activity of organizations that deal with data. That's why we strongly believe our project comes with perfect timing. 🇪🇺🇪🇺🇪🇺🇪🇺 Of course we'll expand beyond Europe in a later stage of the project. The data market is H U G E!

Show more

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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