What does it take to break the grip of web cookies, banners and middlemen and free people's data so they can own, share and unlock their value?
Issues around the value of data, privacy and security are rooted in the original design of the digital marketplace - central silos, malicious actors and bots - and solving them is one of the Web's greatest gifts.
Over the past 18 months, the Tapmydata team has been building tools for people to take back control of their data and companies to rebuild trust, with Privacy by Design, and keep Blockchain score. Thousands of people, and hundreds of organizations have used our technology.
Tapmydata is now launching a decentralized private data protocol and TAP token to break the long cycle of data abuse. Each user can manage their own digital identity, create an NFT (Non-Fungible Token) from Blockchain Verified Consent and license it for use across the web, receiving value (ERC20 token) from the organization.
How Tapmydata Works
How does this work in practice? If you are a new user, or an existing user of the Tapmydata mobile app, you use it in the same way to request data, add credentials and personal ID, and store it in your secure wallet. We do not have access to any keys or data.
This app provides TAP tokens for activities that benefit the community, such as sharing data or verifying credentials. You can then use these tokens (or buy more) to create your own Blockchain Verified Approval artifacts. This is what organizations buy to use in targeted marketing, also using tokens.
While projects like Brave and Swash have helped make people aware that their data has value and this can be realized through crypto, they still work within the confines of today's AdTech system; I get paid for my attention, or for my browsing history to sell to advertisers.
Tapmydata creates a foundation for people to play a new role with their commercially valuable data, where they are in the driver's seat. Instead of seeing an ad for something you wanted to buy in the last week, you can tell the company that you are in the market right now to buy a kettle, hardware wallet, or insurance policy. Advertisers can purchase these approval artifacts on a large scale, incentivizing users with tokens.
Tapmydata will use the funds raised from this token sale to grow the TAP Token user base, move the technology to a web browser plugin, and drive adoption among companies. As crypto awareness increases, Tapmydata can provide an avenue for the average consumer to use the asset closest to their heart, and provide a way for Web 3 companies and other dApps to get the data they need at low risk, without trust.
The Tapmydata team is passionate about helping people take control, license, and get universal revenue from their data, and if the US election tells us anything, now is the time for a change.
We shared our vision and journey towards TAP last week in Part 1 of our white paper. This week we will focus on the details of how we make it happen, token design and the economy. In the last section, we will detail the technology that underlies these tokens and fundraisers.
TAP Token
TAP is Tapmydata's native protocol token and is issued by TAP Protocol Ltd.
Token Name: Tapmydata
Token Ticker: TAP
Token Type: ERC20
Initial Supply: 100,000,000
Maximum Supply: 100,000,000
TAP Distribution
For more information about our token distribution event visit https://tapmydata.com/tap-token
TAP Release Schedule
TAP Token Sale
After months of planning, weeks of round-the-clock work from the team, and a storm of activity and interest, we are in the final 10 hours of a Tapmydata token event!
Listen and learn more:
1. What is a Dutch Auction?
2. Why is the fairest distribution model
3. Why these last hours are the most important in the whole sale
When Tapmydata decided to launch our TAP token sale on Balancer, one of the main motivations behind the decision was a fair distribution of tokens to our wider community.
As is currently the case, the process of obtaining ownership in public hands is largely controlled by investment banks. They are also responsible for setting IPO prices - hardly democratic!
Tapmydata wants to do things differently; raising funds for the next stage of our journey through the 'Dutch auction' process using blockchain suits us very well and allows smaller investors to take part.
The basic concept of Dutch auctions has been around since the 1600s, as a method of dealing with instant demand for new products (tulips) with a large potential buyer market, and where a large number of assets are offered for sale.
Dutch auction starts at a high price; at intervals known to the public, these prices fall in transparent price increases. Lower prices mean buyers will bid at the price they are willing to pay.
In a financial context, the US Treasury uses a Dutch auction to sell their financial instruments, and in 2004 Google decided to do the same for their IPO, to minimize low prices and achieve fair prices.
The Tapmdata team agrees that a variety of auctions in the Netherlands is the best way to achieve a fair launch, and Balancer's unlicensed design and open access distribution is more in line with our values and goals for TAP distribution.
The LBP in our case lasts a 4 day period (with less than 24 hours to go) - no first-come, first-served, and people are not incentivized to FOMO in for tokens at the start, which means better price discovery .
And since the price of assets inside Balancer LBP starts at a high price and gradually decreases over time, if the bots get TAPs right away when the pool is active, the prices on Balancer will soon be lower than the acquisition price. which bots pay for after heavy changes.
Therefore, the bot cannot interfere with the sale of the token in a negative way, thus providing absolutely no incentive for people to use it.
So, with our LBP and token sale, similar to the auction in the Netherlands, users have a long time to acquire tokens at a price they find attractive. However, if we start from an artificially high point where demand is zero, and prices are flexible up and down, then as the window of opportunity shrinks, demand (and prices) can also go up.
That's also why the strategy makes a number of investments at periodic points throughout the life cycle of a token event smoothing out the average dollar cost and exposure to price fluctuations, as is the case with tulips, or other traditional investments.
Tapmydata has a variety of resources available to learn all about this project. Check out some of our social media links:
Website: https://tapmydata.com/
Whitepaper: http://docs.tapmydata.com/
Telegram: https://t.me/tapmydataofficial
Discord: https://discord.com/channels/766328006909755443/766328006909755446
Twitter: https://twitter.com/tapmydata
LinkedIn: https://www.linkedin.com/company/tapmydata
YouTube: https://www.youtube.com/channel/UC3yW8fOGqsMIx5sd3ZXmvYw
Instagram: https://www.instagram.com/tapmydata_/
Github: https://github.com/tapmydata
Host website: https://beta.bounty0x.io/
Bounty0x username: @awakpane
Note: A sponsored article written for a bounty reward