Have you ever wondered how valuable is your online data? Find out below!

in #blockchain6 years ago

How many times did we stop in our online browsing tracks and pondered how much of what we do online is recorded and used? In the famous lyrics of The Police “Every move you make, every step you take, I’ll be watching you”, that’s the current state of the internet, sadly. Resourceful companies and data scrapers track and store our online digital footprint which then they use to create data products or merely sell it to the highest bidder.

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These transactions are done in such a way that we would never know who collected our data nor will we receive any compensation for it. Nowadays, consumer data is as valuable as gold for any marketing efforts, because it tells you what your audience is searching for exactly and companies can focus their efforts on the wanted products to rake in the profits. Conglomerates like Amazon know the power of data first hand as it has jettisoned them amongst the top ranking companies in the world. With the right information, they’ve built recommendation systems that skyrocketed the company’s profits and motivated other giants like Netflix or Facebook to do the same.

It's time we take the matter into our own hands and reclaim the rights of our online digital footprint. Until recently, this seemed like a daunting task to take on, but with the power of blockchain and decentralisation, the solution is currently within our grasp.

Liberdy: the personal data revolution that we need!

Enter the blockchain data ecosystem that enables users to take full control of their online data and share it on a permission basis. The platform aims to put the data generators in the payment loop as interested companies and individuals who require data for their research will pay the source of the data directly. There’s an entire underground industry going on in the data brokerage market, and buyers do not always get the most accurate data as they have to rely on the shady brokers they get it from.

With the help of the Liberdy platform, however, data buyers can rest assured that they get the highest grade of data possible. The ecosystem has it’s own cryptocurrency, in the form of LIB, AN ERC20 compliant utility token that is used to buy and sell data on the Liberdy Market.

Making use of the DMP (Data Management Platform)

A DMP is a data storage computing system that can manage and integrate data lakes of data from a variety of sources. Liberdy has two policies that stack up to the DMP architecture, the User Data Module collects information from the users directly and stores it on the blockchain. The Big Data module is responsible for aggregating the data to create relevant material for digital advertisers.

Needless to say that all data processes are GDPR compliant and deployed in such a way that puts the safety of the personal data at the highest level possible. To join the data revolution stay tuned at https://liberdy.io as more details about the platform are being rolled out!

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One of the great things about crypto is it is giving users the opportunity to monetise their own data and take back control. For so long corporations have been profiting by leverage user data without returning anything back to said users.

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