TAPMYDATA: Utilizing mining efficiency and Rewarding the ecosystem.

INTRODUTION

We live in a world where data is the new oxygen for businesses and government agencies. Everyone is looking for data, from the small firm down the road to the big Fortune 500 companies. Ad and marketing agencies are on the prowl, looking for data like hungry lions.
The need for data is not a bad thing. After all, to make better business decisions, you need data. However, what has become a problem is how these data are gotten and how they are used.
Data usage and mining has become a major issue around the world.
The severity of data curation and usage, where the owners of the data aren’t aware that their personal data are being mined and used without their consent is why TAPMYDATA exists.

TAPMYDATA is the data mining and usage solution that gives data owners complete power and control over their personal data, and rewards them each time their data is used by an organization.
Still confused?
I’ll break it down.
But before I do, let me shed some light on the consequences involved with illegal mining of personal data as well as the usage without consent.

THE UK-EXPERIAN EXPERIENCE
Experian is a UK based credit agency that allows users to check their credit scores to know if they are qualified for a loan credit cards.
Pretty cool, right?
Yeah, it is. Just stay with me.
However, what many UK citizens didn’t know was that Experian was not only helping them know their credit score, the company was also mining their personal data, illegally, and selling the data to several companies for bug money.
Yes, real big money.
For context, the data industry is worth around $325million dollars. That is how huge the industry is.
When the UK government found out about the shady dealings Experian had been carrying out, the company was fined and given nine months to fix things up.
While the verdict looks fair, it sent shockwaves all over the world.
“We are no longer safe! Many complained.”
“Our personal information is in the hands of people we don’t even know!”
Why this background story?
It is to give you a clearer understanding of the immeasurable importance of TAPMYDATA at a time as this.
We all need security in our personal data, desperately!

WHAT IS TAPMYDATA PROTOCOL ALL ABOUT?
78% of people say that business profit from data more than they (businesses) admit, while 68% believe that they’ve lost control of their data.
That is why TAPMYDATA is here; to give you control over your data so that companies no longer profit off your data and not pay you for it.
With TAPMYDATA, you are taking back your digital identity and making profit from your data.
TAPMYDATA has tools, ledger and decentralized protocols that provides your data with maximum digital security and profitability.

BLEND DATA AND EXCHANGE VALUE WITH THE NEW TAPMYDATA PROTOCOL
No more would your data be stolen without your consent, used without your consent and you get nothing in return. No more!
With TAPMYDATA, you get agency on how your data is collected and used, and you get rewarded every time an organization uses your data for anything.
Unlike in the past where you have no idea what your data is been used for, with TAPMYDATA, you get full agency of your data and are always in the know how your data is been used.

THE PROBLEM WITH DATA
Data usage is becoming a major problem around the world. Companies buy data from their-party organizations, and use these data for their businesses without paying the original owners of these data.
The proliferation of illegal collection and usage of personal data has led to the enactment of laws such as GDPR and CCPA.
Litigation battles awash the data industry, and rightly so, given the ways through which data are obtained and used.
The regulations, however, haven’t stopped companies from being a law unto themselves. The stats show that since 2017 till date, the number of data curated and gotten by third-party data brokers have doubled, while the number of laws against data mining, curation and usage has also increased.
It is as though the more laws are passed, the more people who are willing and ready to break these laws.

END OF THE LONE FOR DATA BROKERS
Data brokers are third-party companies, such as EXPERIA, who mine and curate data from citizens, and sells these data to big corporate organizations.
The laws that have been put in place no places the onus of the third-parties adhering to laws and regulations on data collection on the businesses that buy these data from the third-party companies.

What this means is that if Company A buys data from third-party Company F, Company A must ensure it carries out due diligence to know if Company F adhered to the laws of the land in its collection of those data. If Company F is found wanting off breaking the law, Company A is charged as guilty.
With this law, every business who buys data is now more careful not to fall into the wide forked arms of the law.

TAPMYDATA is designed to take the money off the hands of the third-party companies, and place them in your hands, you who owns the original data.
Instead of the third-party companies enjoying the benefits of data, you enjoy the benefits.
Now, let’s see how TAPMYDATA works.

HOW TAPMYDATA WORKS
The abuse of data is something WEB 3.0 and TAPMYDATA wants to stop.
And what better way to stop the abuse of data than to place the agency of how data is gotten and used in your hands?
With TAPMYDATA, getting control of your data is as easy as ABC.
When you download the TAPMYDATA app from Google Play Store or Apple Play Store, you add your personal details and credentials to your account.
These details are then stored in a secured TAP wallet. The wallet has a key which no one else, not even TAPMYDATA developers have; you are solely in charge of the data in your wallet. You hold full agency over your data.
When you verify your account, you get tokens as rewards.
After the tokens have been given to you, you need to mint your Blockchain Verified Consent Artefact.
So, you might be wondering, do I need the Blockchain verified Artefact for?
The Blockchain Verified Artefact is your key to earning from organizations that want to use your data.
Organizations will pay you in tokens when they need your data.
Your personal data is stored in the Artifact. When organizations need your data, they reach out to you (or you can reach out to them first). After they have reached out, there are three possible courses of actions:
Send: give me my data. This is h
Delete: This data is not mine, delete it
License: Agree terms and pay you for it.

TAP PERSONAL DATA STORE
The downloadable app provides with a personal data locker. You can print Non-Fungible Tokens (NFT), which is what you leverage on to get rewarded by companies for your data.
The personal locker is also a crypto wallet that holds the TAP token.
Note: NFTs hold your data securely. It is the NFT, also called the Blockchain Verified Artefact, that you use to bargain with companies who need your data.

ID VERIFICATION
One of the things that make TAP protocol stand out from other similar protocols is the SSI feature.
SSI stands for Self-Sovereign Identity.
SSI takes away the hassle that comes with ID verification that many organizations make people go through.
Yes, verifying the user is imperative for security and authenticity, but the process of verifying a user sometimes leaves people frazzled and frustrated.
With TAP, you control the ID verification and authentication.
You control the elements that make up your identification. This means that it is you who define what needs to be included in your verification process. Also, credentials issued to you gives you the power to verify yourself by yourself.

MIGRATING TO ETHEREUM
We were formally on the Stellar platform, but with the rapid growth we are experiencing, we have decided, because of some immense benefits that Ethereum provides, move to the Ethereum platform.
Some benefits of Ethereum:
Well established token standards for fungible and nonfungible tokens
Allows users in the community to swap tokens.
Great community and has liquidity.
It is cost effective – costs less – and is very dynamic

THE TEAM BEHIND TAPMYDATA
The team behind TAP Protocol are seasoned developers and professionals who have developed similar data profiting platforms in the past. Their passion for seeing you and I, those of us who own data, benefit from our data, is what made them develop TAPMYDATA protocol.
In addition, the team believes that data used by organizations should be properly gotten, with consent and the people who own the data properly compensated.

“A sponsored article written for a bounty reward.”

For more inffo kindly access the links below

Website: https://tapmydata.com
Whitepaper: http://docs.tapmydata.com
Linkdln: https://www.linkedin.com/company/tapmydata
Twitter: https://twitter.com/tapmydata

Author : Dulo Wegner
0x username: Dulowegner

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