What is Avail

The Fundamental Issue

We live in a world where control over our data and money is increasingly slipping through our fingers. Our data is used and sold in order to make large profits. Our money is used by banks and financial institutions in order for them to give out loans and investments by leveraging client funds. This is fundamentally wrong as your savings are at the risk of the failure rate of the bank’s investment or the value of the collateral of which the loans they give out are backed by. The only owner of data regarding to entity X should be entity X and the only person that should be able to utilise and have full control over entity X’s funds is entity X. On top of this issue of control, banks are fallible and subject to events such as bank runs during which the majority of clients withdraw a lot of money all at once, along with other risks previously mentioned.

The Faulty Alternative

We at Avail are aware of the fundamental issues that are plaguing the world. Blockchain technology is the best alternative to the traditional financial system and data harvesting platforms. However, most blockchains also have some issues that have caused them not to be adopted by the majority of the world’s population as the main method of transaction both for data and money (money is data), the main three issues being lack of privacy, scalability and ease of use.

Blockchain technology is indeed a better alternative, but current blockchains such as Ethereum, Solana and Bitcoin all share a common problem. This issue will never allow for mass adoption. The Problem with these blockchains is that when transacting on these chains, entity x can see all of entity y’s transaction history and balance, where entities x and y are not the same entity. This is not practical for entities or individuals to use. Nobody wants their neighbour to know what transactions or data they transferred, let alone other users such as competitors or malicious actors. On top of this issue, current blockchains aren't easy to use and for many people, it takes them long to learn how certain wallets work and how to use them. Even once they do learn, many people don't use them as much as traditional payment types because it is just not convenient.

And that's when we started doing our research. Through months of research we stumbled across the Aleo Blockchain, this employs Zero Knowledge Proofs to transform previously public transactions into private, secure transactions. With Aleo, individuals gain the power to maintain the utmost privacy, shielding their financial activities from prying eyes, whether it be competitors or anyone else. At Avail, we recognise the incredible potential in granting people control over their privacy, and that's when we got to work.

Solution

Avail was born with a singular purpose — to offer everyone seamless control over their money and data through an easy to use, private self-custodial wallet built on Aleo.

Final Remarks

We hope you join us on our mission to give people all over the world control and privacy of their data and funds. You are invited to look into our project on our socials and website, feel free to join our Discord and get in talks with us about what you think, lets change the financial & data control system together.