PRIVI protocol is an innovative blockchain based system which utilizes modern technological tools to create a new ecosystem which will address the prevalent issues which underlie ownership of data and decentralized finance.
in the context of data ownership, it is a truism that several billions of data and information is fragmented across various platforms in the internet, these are generated from the details individuals around the world while using their mobile phones, computers and other gadgets to either surf the net or performing tasks online,most times, these users relinquish all rights pertaining to these information while data brokers step in, sell off the generated data to big corporations for huge profits leaving end users who are the original owners of data with absolutely nothing.
furthermore, the impact of legacy social networks have been quite negative on users, this is because most of these structures are quite centralized and rigid, they are owned by big technology companies who dictate how the system should be run and what financial services or products should be offered regardless if it suits the users or not, this does not only limit users participation but also restricts them from making optimal use of the decentralized finance industry.
privi protocol is the revolution and an antidote to the outdated social networks that have failed to make an impact in the lives of defi users, as well as the solution to monopoly of data held by big tech companies as regards to monetizing users information for profits.
Some of the benefits of adopting the privi protocol include
The privi network lets users form and follow communities or groups and empower them to vote and hold an opinion about how the group should be run and the direction of development as well as leverage the privi infrastructure to develop a community token which can be swapped for btc, eth and other digital tokens.
contents including podcasts, blogs, artworks and music can also be tokenized. one can choose to create these digital contents by oneself or purchase from other creators.
invest passively or actively in crypto or fiat depending on personal choice and disposition, one doesn't need to be an enthusiast or technically savvy to participate.
privi empowers users to insure, swap digital tokens, create and invest in indexes as well as apply and receive crypto credits from various decentralized credit pools in btc, privi and other tokens.
ABOUT THE TOKEN
Just like every other DeFi project, the Privi protocol has developed a unique cryptocurrency which will act as fuel for running the network. The Privi coin is designed to function as a tool for payment of transaction fees, rewarding participants, staking, transfer of value and other operations on the substrate. Holders of this coin are guaranteed the privilege to enjoy the full benefits of the platform.
CONCLUSION
Obviously, blockchain solution seems to be addressing the issues of what sort of data is stored, data ownership, analysis, and who deserve access to such data, consumers are massively resorting to blockchain solutions for their data problems. Privi as a decentralized social network is leveraging the blockchain technology to return data management and control into the hands of its original owners and open up various windows of opportunities for them to earn massive financial benefits from their data, moreso, it proffers a platform where users can create and join desired social networks, create their own tokens, tokenize their contents,swap tokens, invest in indexes and a lot more under in one place.
USEFUL LINKS
Website- https://priviprotocol.io/
Whitepaper- https://priviprotocol.io/whitepaper
Twitter- https://twitter.com/priviprotocol
LinkedIn- https://www.linkedin.com/company/privi-protocol/
Telegram- https://t.me/protocolprivi
Instagram- https://www.instagram.com/priviprotocol/
BountyOx Username- Uju4real
“A sponsored article written for a bounty reward.”