They say knowledge is power, and also that money is power, in the same way, you could say, knowledge is money, the more you have, the more money you could make, and that is exactly how today’s data economy works, it is so valuable - in fact, that two of the top tech companies in the world, Google and Facebook, are based on this premise, Google offers you a search engine and advertises based on the searches the users make.
In a similar way, Facebook gives you it’s social platform in exchange for learning about your habits, relationships, and “likes”, all of this information is used, you guessed it, to sell advertising to you based on the insights they get on user data, the use of the Facebook platform to create political influence and propaganda is in the base of the 2016 Russia investigation in the US elections.
Both of these have been unimaginable for past generations, and this field is now seeing new players joining in to change how this market operates. With the advent of the blockchain, startups are finding new mechanisms to encourage users to share their information with the platform in question, the way they do so is by having tokens on the blockchain used as both rewards for the users and a way to purchase services from the platform.
The next wave?
Data brokers like Repux uses its tokens to buy anonymized data from small businesses, and then using the blockchain to assign a reputation rating to the data, which is then used by other developers in creating machine learning algorithms based on true information, a sort of “data marketplace”.Similarly, IOTA promises to use a combination of AI and blockchain technologies to make sharing economy ventures easier, a number of big names in the auto industry are said to have gone into partnership with IOTA, the status of these collaborations is not yet clear though, and various rumors exist as to what is the nature or maturity of these joint projects
The holy grail of consumer information, the actual spending done on credit cards seems at first to have no relation possible to blockchain and it’s innovation, but a startup called Rubiix has created a way for the consumers to monetize their data, and already has 10,000 active users using their app, the use of cash back programs to motivate credit card use is nothing new, but using a token to stake consumer data is, the same token is used to reward the consumers as is used to buy campaigns and data by advertisers, thus giving the token a huge value proposition.
no idea why people are still using facebook and all social platforms these guys are the worse
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they give you free and machine working platform and you call them bad?
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yeah, they give us nothing!
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that's not true do you know how many people are working in big companies like facebook and twitter? they create many working places without them many people will stay out without a home!
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facebook just passed the 25K employees
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do you think facebook and even reddit will be replace by platform based blockchain? like steemit? we are a really small platform compared to fb right now
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well we are talking inside a platform that based on blockchain right now so , i believe more people will come and steemit will be the biggest platform in the world in 5 years
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im not so sure
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be sure , many more good projects are on the way looking at the rubiix app that been mention in this article , as i said before to my fam and my friends , block is the 2020.
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i think your right
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it would be funny if facebook will adopt the blockchain tech and will switch over too hihihi
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as i see it this is may be the only ico that will raise some money from the crowd , only because its social and its actually fix some existing problem
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what are you talking about ? what ico?
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the one that mention here this rubiix they seems legit and they got working product thats already a boost
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working product its always good thing but no ico can raise money this days , they only raise from private investors they cant raise from the crowd , not until 2019
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why what will happen in 2019
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2019 will be better year for icos , the bitcoin will give us the next hype and you will see that the public will gain the trust in icos back
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i dont know about this credit card ico , i see many ideas like so that didn't do anything after they raise money so dont know what this guys actually gives back
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rubiix app looking different they do a cashback based on your social data sharing and financial not only social or only financial, they got a working product they also seem legit, i read about their founder and its looks like peoples that know how to make some money because they already did an exit before
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are you familiar with them before this article?
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yeah i have been talking inside their telegram group for almost a month they just opened it
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can you share with a link
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yeah sure i dont think i can write link here so just try @rubiix at the telegram they are very nice and they answer questions all the time
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no idea why more and more developers try to fight with new platforms the bigger onces , you cant win amazon and ebay with no matter what platform you will develop
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its not about fight EBAY and Amazon , its about fighting the banks dont you get it ? they sell your data and make millions out of it
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its not the banks....its the credit card issuers , and yes they sell it from day 1
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dont you care? if you adopt applications like rubiix you can actually hurt them back
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naaa i dont care
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amazon has a size advantage and much more access to advertisers, user data isn't everything there is to running a business, a lot more is at play here
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this is the whole concept behind Repux, if they can actually make it happen is another question entirely, for now, the data economy favors the bigger players
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that is exactly what needs to change, robin hood exchange for example uses trading data to sell to high frequency traders so they could frot run your trades, the data could be massively abused by unethical companies
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keep it up, great article
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agree, looking for investment opportunities right now to offset some of the losses I made this year
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