PRIVI PROTOCOL
Data, in an age where people spend most of their time surfing the internet, have become the new gold. Companies are always prowling the world wide web in search personal data. These data are used and sold to big companies to target their ads to people who need their products and services.
However, the recent privacy and data scandal big tech companies such as Facebook have faced over the last few years has made internet users sceptical about how their data is mined and used.
Your data are important, and so you should profit from your data. Companies who use your data are supposed to pay you; that’s where PRIVI protocol comes into play. Data owners gain more control of their data, and profit from their data being used.
HOW DOES THE PRIVI PROTOCOL WORK?
Recently, documents were released online on how WhatsApp takes users’ data without their knowledge. The data battle is an endless world, especially in our world where google made a staggering $38billion from ads.
How did they get so much money from ads?
Targeted ads!
Google has so much data it I impossible for the company not to have 80% of internet users’ data.
With Privi, when your data are used for ads, you get paid for it.
Also, Privi Protocol has a decentralized Finance system that helps with lending and borrowing.
The data collection on Privi gives you, the user, the power to determine the type of data you want to share. Unlike other tech companies that take your data without your permission, with Privi, you give your consent before data is mined.
When the data is sold to ad companies and the data used for ads, you get paid as well. The system is designed such that data owners are beneficiaries from their data.
Imagine how much you’d have gotten from Google’s 2019 ad budget of $38billion?
Something substantial, right?
That is what Privi gives you.
Decentralized finance solution: A decentralized finance system is a big deviation from the regular centralized finance. With a decentralized finance system, there is no middleman, no judge in between transactions. Two people carry out their transaction directly, no stress.
So, how does the Privi Decentralized finance system work?
Users on Privi can borrow Privi Coins (PC) ot BC from the platform through locking the PC or BC they have on the platform as a collateral.
If you, as a user, have BC or PC, and wants to take a loan, you’ll offer the BC or PC you have as collateral on the platform. The tokens will be locked, and a loan given to you – after a lender accepts your loan request. We’ll talk about the lenders next.
Lenders on the 0ther hand, will see your loan request, and if they’re comfortable with your request, offer you the loan.
If after the stipulated time you don’t pay the loan – as the borrower – the collateral you locked will be forfeited.
If and when you repay the loan, your locked coin is given back to you.
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WHAT MAKES PRIVI DIFFERENT?
Privi is Secure: After you’ve given the Privi Platform the permission to take your data, the data is encrypted with a strong cryptographic code. You can rest assured that your data will only be used by people who you and the platform authorize.
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Gives opportunities to different people: With Privi, you can get involved with the data and decentralized finance as a partner, retail user or corporate client.
As a partner, you introduce new users to the platform.
As the platform grows, the community grows, and the value of the Privi Coins (PC) grows.
CONCLUSION:
Your data is valuable; never allow anyone steal your data without paying you for it. Privi helps you make your personal data profitable.
For more information ,kindly access the links below,
Website: https://priviprotocol.io
Whitepaper: https://priviprotocol.io/whitepaper
Twitter: https://twitter.com/priviprotocol
Linkldn: https://www.linkedin.com/company/privi-protocol/
Telegram: https://t.me/protocolprivi
Author: Dulo Wegner
0x username: Dulowegner