What happen when you combined two of the hottest tech theme in current years?
Bigdata + Blockchain?
Why it’s Important
By 2022, data will be the most valuable resource on earth. But while we are the creators of this data, we do not seem to own it. Companies called Data Brokers scrape and sell our data without our consent, providing us no transparency into who buys our data, and giving us no control to intervene. Most importantly, Data Brokers leave data creators economically disenfranchised: by 2022, Data Brokers are expected to sell data worth $7,600 per year per American internet user, amounting to almost 11% of median household income. For companies, the current Data Brokerage ecosystem is equally problematic. Data Brokers are bound to sourcing data that is either publicly available or licensed via third party agreements. Their accuracy of matching advertisers with interested customers is less than 2.9% resulting in hundreds of billions of dollars being wasted each year due to bad data.
What Problem does this solves?
Datawallet provides users with a self-sovereign wallet that puts them in charge of their data, and allows them to monetize as well as utilize an asset that is rightfully theirs. Our exchange puts users in the driver seats; it gives them full control over which data they want to share and who they want to share it with. It gives them full transparency into the use cases that companies want to source their data for. And most importantly, it allows them to reclaim the profits made with an asset that is rightfully theirs. For companies, Datawallet constitutes the fuel source to power the new AI driven online economy. Since the Datawallet model is based entirely upon users giving expressive consent to share their data, companies are able to access cross-platform, user-specific, historic and real-time data which previously was entirely inaccessible. By allowing users to link their data directly to their applications, companies will be able to train their algorithms right away and unlock the groundbreaking potential of this new generation of smart applications. For more information visit Datawallet home site.