Future sources of passive income thanks to blockchain
Sell your data yourself and redeem the reward for that! — That looks like a very interesting concept. Think of it — who said that centralized services like Facebook and Google can collect your data and sell it?
I was visualizing the example with the apple tree on your property and a stranger passing by the tree on the sidewalk taking the apples from the tree and selling them. This is essentially Facebook that takes your data that you voluntarily disclosed on tour FB page; selling the apples that are yours.
The Programmatic Advertising and user data selling aka DMP industries will be disrupted with the blockchain technology very soon. The idea of gathering free apples and selling them on a massive scale without letting the user get a single cent of it will vanish when users will be given the tools to earn passive income by proactively selling their own data.
I personally stopped obsessively providing information about myself to Facebook like letting my friends know how I am and how I like the posts that they published about a year ago. I even have a boyfriend who does not have a Facebook account:)
It won’t happen overnight, the same as iPhone with all the mobile apps were not adopted instantly. I envision it will take up to 7 years for the market to adopt the mentality of blockchain and decentralized business models. Where there is no one middle man capitalizing on collecting and reselling data but decentralized user based exchanges will be selling user data individually.
This article got inspired by reading ICO White papers of projects like DataWallet and Steemit. I am personally wishing them best of luck building the user base data exchange where the user gets to choose what data to sell, who to sell it to and whether to sell it or not. Here are my two satoshis:
I personally would rather choose not to sell any of my data at all. I have problems with everyone collecting my data. I would rather see irrelevant ads about something that I would never buy as opposed to selling my data to an online store that creates needs that I didn’t have before by showing me pictures of stuff that I do not need for happiness. Meanwhile, I just use an adblock browser extension.
Another case that I see happening a lot — is if users will sell incorrect data about themselves. Say if nobody knows whether I am telling the truth or not I will try to set my data in an incorrect way. Besides I do not see any scaleable way of checking whether I provide fake data about myself or not. So self disclosed data may not be any better than the data that had been collected on the back of the running device. Intact that background data may be even more accurate in a short term.
DataWallet, SteemIT, BAT, 1WorldOnline and other such projects are meant to empower users to get reward for the engagement in the media that creates value that previously was redeemed by the publishers and other advertising vendors.
My Blog on SteemIT btw: https://steemit.com/@californication
So here is my prediction for the year 2025 — We will be able to cover our phone bills and more by just letting our data be used for targeting, marketing analysis and other types of research while you sleep, or while you are sick with the flu, or data that you generate by preferring one TV show over the other to be monetized. User will be redeeming the value that they created, not the centralized 3rd parties that opened their pockets to collect what doesn’t belong to them. All the social activities, likes, shares, comments, reviews are all added value that users creates for the giant data collectors which in turn creates billions of dollars worth of value for the shareholders.
Wishing all my friends and subscribers to develop a need for the Ledger Nano S!!! Then please use this link to buy it: https://www.ledgerwallet.com/r/d141
In case if you do not have a Coinbase account yet — here are free $10: https://www.coinbase.com/join/598774916c7d4a00c500d97e
My blog in Medium: https://medium.com/@yana.kunitsky/how-to-select-100x-ico-investment-9eccf3fa3584