Personal information or data is big business for those who know how to use it. On the one hand, we are looking at the use of data to create targeted adverts that will trigger sales. On the other hand, we are looking at the obvious use of personal information/data without giving credit to the owners.
Challenges with the Data-Driven Industry
Many problems are causing much uproar in the data-driven industry. While some users are not entirely pleased with the way their data is mined, others are worried about the safety of their data that is used by third-party platforms.
THE NEW DAWN
ARCS is the new platform that is using blockchain technology to ensure that the management of users’ data is optimum. Here are some of the ways this platform will leverage blockchain technology to facilitate the conversion of data to MONEY.
1- Data Accumulation
The first step is that ARCS will accumulate data. It must be mentioned that the platform does that as a way of ensuring that the personal information of the users is stored securely.
It should be noted that ARCS opted for the accumulation of data because of the way data has been illegally used on traditional platforms.
What ARCS does here is to become the intermediary between the data owners and the data miners. On the one hand, the data owners are the users whose personal information is obtained on the platform. On the other hand, the data miners are companies and Big Data corporations that pay for data.
ARCS does a great job of gathering or accumulating the personal information of the users when they carry out specific activities on the platform. Some of the ways data can be mined are when the users sign up to become members at a store and when they sign up for a credit card.
2- Data Negotiation
ARCS will proceed to negotiate the available personal information/data. As an intermediary, in this case, the platform will be covering the interests of the data owners and that of the data buyers.
This makes the reinvented data structure of ARCS better than what we have been having on the other platforms. More so, it is safer to leverage that as a way of ensuring that the platform doesn’t compromise on the opportunities of either party.
3- Data Sales
The next step is to sell the available information/data on the ARCS platform. The aim is for ARCS to ensure that the data willingly submitted by the data owners are sold and part of the proceeds remitted to the data owners.
When it comes to the trading of the available data, ARCS does that by enabling the use of the ARCS crypto token.
The data will then be moved from the dedicated AIre platform and sold to the companies that have paid for the same.
Conclusively,
ARCS is here to redefine the data-driven industry. The use of blockchain technology and the innovative ARCS crypto token will further position data owners on the path of making money from their personal information.
USEFUL LINKS
Website: https://www.arcs-chain.com/
Twitter: https://twitter.com/ARCS_ARX
Whitepaper: https://www.arcs-chain.com/whitepaper_en.pdf?v=20191122b
Telegram: https://t.me/ARCS_ARX_EN
Medium: https://medium.com/arcs-arx-official
AUTHOR'S DETAILS
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