Itheum at the Core: How Our Platform Works
Data is a critical asset in the modern age, with endless amounts of products and services requiring users to provide their personal data in order to access them. Companies can leverage this information to learn more about the users themselves, such as their spending habits, likes, dislikes, and more. Once the user hands over their data to these companies, they lose control of it as it becomes locked up in data silos.
The data is then used to create products and services according to the users’ preferences, getting them hooked on a particular service or product — some organizations can use it against you and even influence your ideas, also selling it to third parties.
Itheum is a platform with the ultimate aim to change this data collection model by leveraging it using decentralized blockchain technology. We’re looking to level the playing field, enabling users and commercial entities to establish a mutually beneficial relationship.
What is Itheum?
Itheum is the world’s first decentralized, multi-chain data brokerage platform built for individual users and enterprises to trade and exchange personal data without any middlemen. Our platform has been in development for over two years and focuses on unlocking data silos created by Web2 organizations and generating new value for user data.
Itheum enables data to be easily transitioned from the Web2 world of traditional websites to the Web3 internet based on blockchains, where it can be traded in a peer-to-peer manner. We also focus heavily on allowing this data to be traded across different blockchains, interconnecting the different crypto ecosystems into one convenient place for efficiency and diversification purposes.
Our Core Products
Itheum consists of three core products that harmoniously work together to enable our platform to seamlessly function — let’s take a look at what each does and how it functions.
1. Data Collection and Analytics Toolkit
Our Data Collection and Analytics Toolkit allows anyone to create applications or programs that can collect structured and valuable personal user data from users, turning it into a more visual representation or pattern — this is made possible by using anonymous or semi-anonymous analytics.
With this technology, we can provide real-world value while generating outcome-oriented and highly structured personal datasets.
2. Data DEX
Our Data DEX (decentralized exchange) allows users to truly own the data collected by organizations that built their applications using our toolkit. This means users can access their personal data and generate income streams by trading or exchanging it with other organizations through peer-to-peer channels.
We’re also community-focused and have therefore enabled DAOs (Decentralized Autonomous Organizations) to exist on our platform, meaning there are decentralized communities you can elect to trade data for you on your behalf.
3. Data Metaverse
Our platform has specifically been built to suit the Data Metaverse, consisting of several products specifically tailored to NFTs and virtual blockchain worlds.
- N.F.Me ID (Non-Fungible Me ID): Every person is unique, as we all have customized data sets. N.F.Me ID builds on this concept where we create a digital avatar identity in the form of an NFT backed by your very own personal data. Anyone can mint and own an N.F.Me ID, which can evolve as you collect more data and become interoperable for use across other external Metaverse platforms.
- Data NFTs: These are essentially subsets of data that the N.F.Me ID host creates. These can be independently traded on secondary marketplaces or our own Data NFT marketplace — they will be linked to the base N.F.Me ID.
- Data Coalition DAOs: These DAOs are communities that trade datasets in bulk on behalf of individuals or a group of users. When trading large amounts of data, it is recommended to align with a Data Coalition DAO as it will ensure the user’s best interests during any data trade.
- Greenroom Protocol: Our very own Metaverse interoperability “waiting-room” portal, is known as the Greenroom and can be explored using your N.F.Me ID. You can use it to visually view and organize your Data NFTs and NFT accessories that are backed by your personal data. 3rd-party Metaverse interoperability integrations will be added to the Greenroom; enabling you to teleport your N.F.Me ID and NFT assets to other Metaverse platforms (The Sandbox, Decentraland, etc)
What We’re All About
Itheum gives data creators and consumers access to the much-needed tools to build their own applications, easily trade their data with others, all while ensuring true sovereignty and ownership when it comes to your information.
We have also taken the highly relevant and serious topic of data ownership and made it fun and exciting via our Data Metaverse tools and features — ensuring that everyone around the world has the opportunity to partake in this new web3 data economy.
We have our sights set on becoming the premier data platform in the Web3 space, one step at a time.