Covalent enables Smart Contracts for Data.
Data is quickly becoming the most important asset in the world, yet currently there is no infrastructure to control how it is used. Covalent is a new addition to the Internet protocol suite that specifies and enforces how data should be used. It is a new paradigm for data to be used as capital. COVA provides a unique solution to this dilemma and allows data owners to take advantage of the commodification of data. Under the Covalent protocol, data carries a Smart Policy. Data can be protected even after access has been granted. COVA powers Smart Policies which enable data owners to allow their data to be accessed, and transacted while prohibiting undesirable privacy-compromising inferences. By empowering data owners without sacrificing the freedom of data transfer, Smart Policies give data property rights and enable it to be transacted as capital. Also, Smart Policies are specified in programming language and are enforceable by code, compared with previous data usage policies which are often expressed in natural language and are only enforceable by law.