The Story Behind Your Data
Big Data has become a vital aspect of the 21st century, with the rise of GAFAM (Google, Apple, Facebook, Amazon, and Microsoft) raising important concerns regarding privacy. Personal information such as customer lists, postal addresses, emails, and phone numbers are often associated with data collection, but with the emergence of social networks and AI, Big Data has entered a new era, becoming a significant source of revenue for the web giants.
Eric Hugues advocates for the need to take control of our own privacy by building tools to protect it. In today’s digital age, corporations have little incentive to prioritize our privacy. This is where Itheum comes in, offering a solution by developing decentralized tools that allow individuals to collect and manage their own data on the Web3 platform. Through Itheum’s decentralized Data Brokerage technology, users can own and trade their data freely, while also earning rewards. Additionally, Itheum’s goal is to empower users to monetize their data in a secure and anonymous manner. This means that users have complete control over the information they make available to third parties, and it cannot be traced back to their real identity. By taking control of our data, we can regain our digital sovereignty and protect our privacy.
Third-party cookies play a significant role in collecting assumed data. A cookie is a text file stored on your browser, recording information related to a particular website to improve the user experience. However, with the inclusion of digital advertising modules on websites, cookies can collect information on everything a user does on the site.
The collection of data from different sources is not useful unless it can be cross-referenced, assimilated, and linked to a single user. Tracking cookies, digital footprint, and hardware, web beacons are all technologies that can identify a user. By analyzing all this information, companies can build a persona, which is similar to a digital profile, gathering all the information that allows for identification and data acquired about the user.
Through AI, companies like Google or Facebook can understand who the user is, their likes, and how to keep their attention, which is valuable information for targeted advertising. For example, Facebook can personalize ads based on interests, previous searches, or even events in a user’s personal life. It is a scary thought that companies can learn about subjects of conversation, but this example highlights the advanced data collection and predictive analysis used to propose content that is most likely to make a user spend.
In conclusion, companies like Google or Facebook use user data for their interests and offer their vast databases to target specific profiles via their platforms. It is important for users to be aware of the data they share and the potential consequences of it being used for targeted advertising.
Data Ownership in Web 3
The provider stores all information on Web 1.0 and Web 2.0, and you as the consumer do not have ownership of your personal data. Itheum is aiming to utilize Web 3 to focus on empowering individuals to truly own and trade their personal data through a range of exciting blockchain technologies and core products. Itheum creates new market value for your data and enables this by providing “decentralized data brokerage” technology. It’s a suite of tools that will allow high-value data to be bridged from web2 to web3 and then be traded via peer-to-peer sales. It allows for “viral adoption” via our creative “Data NFTs” (provide “inner value” to NFTs and enable royalties / limited supply) and “NFMe ID” technology (a living Metaverse avatar representation of you — wrapped as an NFT and backed by personal data) and our innovative Data Coalition DAOs (which bulk trades your data).
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