PRIVI PROTOCOL REVIEW

PRIVI PROTOCOL
The internet has become home for many people, with people spending an average of five hours daily surfing the world wide web. As people use the internet, usually with their mobile devices, they open themselves up to being monitored and watched by big tech companies such as Google and facebook. As these companies watch, they mine data, and these personal data they mine from people are sold to big data companies who use these data to target people for ads.

Data is fast becoming the new gold in the internet age. The recent data scandal that involved Facebook has revealed, even more clearly, that data is important to big companies, and that we, the users, are being exploited for free.
However, there are ways that these data that are collected and used can be beneficial, financially, to the people who own the data: me and you.
PRIVI protocol was designed to provide data owners with authority over their personal data, how it is used and how much they get paid for the data big companies use.
In 2019, google amassed a whooping $38billion from ads alone. The data used for ad targeting was gotten from people, everyday users of their platforms. And none of us got a dime from the money they made.

PRIVI protocol has two main context it focuses on:
•Data collection, usage and reward
•Decentralized finance context

We explained the data context already. Now, let’s talk about the Defi context.
The DeFi solution that PRIVI offers is born from the growing number of credit card debtors in the United States. A recent report found that JP Morgan, a major player in the credit card sector, in 2019, got u to %35 billion in credit card and interest.
•PRIVI offers users in its community a chance to reduce their credit card debts through their •PRIVI lending and credit systems.
•The systems are simple and profitable.

With the lending system, the community members, users of PRIVI who already have the PRIVI coin, PC, or base coins, BS, can borrow coins from the platform, all they need do is lock the Coins they have, whether it’s PC or BC, as collateral. The collateral is locked so that in the case of default in payment, the system has something to fall back on.
The way the PRIVI protocol is designed is such that as the community of users on the protocol grows, user benefit.
How?
With more users, the value of the PRIVI coins appreciates. So, you see, the growth of the network of users is a growth in PRIVI coins’ value.

Let’s walk back to the data protection solution that PRIVI offers.
The process of collecting your data – the users – and using the data for ads and rewarding you equally, is simple.
•Your data is collected when you sign up for the platform.
•The data collected is encrypted, making it safe and secure.
•There’s an AI algorithm that provides deep insights of the collected data. And the data I sold to ad companies.
•The ad agencies use these data to target audience and sell to them
•The success of the ad promotion is collected, quantified and rewards given to the people (you and I) whose data was mined.

You might be wondering, so how do I get involved with the PRIVI protocol?

The PRIVI system has space for three main ‘actors’:
•Retail users
•corporate clients
•partners.

Partners are ‘alpha’ actors in the system. They bring retail users and corporate clients into the PRIVI ecosystem.

PRIVI Partners provide web and mobile applications for users and businesses. These apps are the ways through which users and businesses can have access to the many solutions that PRIVI offers.

CONCLUSION:
The PRIVI protocol is designed to build trust amongst people and help them benefit from the use of their personal data as well as get access to Decentralized finance, fast.

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