Wibson: The users data market with blockchain security

The market of access to the data of the average users is beginning to see developments of solutions that can impact in the short term the reality of the numbers that for now is throwing. In crude terms, the only compensation that users receive for their incalculably valuable data is free access to the different social networking platforms. Meanwhile, the biggest players in the digital advertising business, Google and Facebook, brought in more than $ 100 billion of digital ad sales in 2017. And all this picking up every aspect of user activity “without you noticing”. Definitely not something that can be described as “fair”.

Motivated to do so and taking advantage of the benefits of blockchain technology, the people of Wibson present us with their platform through which users can recover their data and sell it to advertisers in a decentralized market, and in a secure way.

Knowing that you have a significant passive income by just surfing the internet is something that can significantly change many things in the digital ads market. In fact, conservative estimates that a person’s user data is worth approximately $ 240 per year. And it is clear that this number could be much greater.

The Wibson platform is designed for anyone who wants to monetize their data. Based on the fact that this information is already provided without compensation, the Wibson proposal looks interesting and worthy of giving a good pro to evaluate it. After all the user data does not discriminate, and neither the advertisers.

Wibson’s data market platform provides financial incentives for people to securely sell their validated private information with security, and without sacrificing personal privacy. Wibson explains in its blog how the prototype application they have developed will work.

Once the user installs the application, he can connect to data sources such as Facebook and the location of their mobile device, and monitor the offers of data buyers to sell their personal data. The user makes the operation by contacting the buyer. When the data transaction is confirmed, the user receives the payment for selling access to their data.

Wibson uses blockchain technology so that the transaction between user and buyer of data is recorded in an intelligent contract that establishes how the personal information of the user will be used.

The market for data buyers is mainly made up of companies that seek validated personal data to better target offers and advertisements, as well as other organizations that carry out research, to mention only the most frequent ones. During this “Alpha” phase, as the prototype application is called, Wibson will be the only buyer of its data, using it for internal testing and product development. They agree not to share this data with any third party. Wibson will provide reward points to users who interact with mobile applications by connecting their accounts and making transactions with their data. The network where Wibson is running is a private Ethereum network.

To learn more details and participate in this prototype phase, you can visit Wilson’s website.