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By https://bitcointalk.org/index.php?action=profile;u=2230830
There are numerous resources on this planet, and whilst most of these resources like oil, gas, and steel are very hard to place on the blockchain, given the current level of blockchain technology. However, there is one particular resource that is very feasible in regard to blockchain technology. The name of this resource is data, for those of you sighing and thinking well that’s a pointless resource, and it is not worth anything. Believe me when I say, you could not be more wrong, because the data industry is worth billions! Okay, maybe not billions, but it is definitely worth a lot more than what most people give it credit for.
Now do not get me wrong, because not all types of data are valuable. In fact, only certain types of data are actually valuable, and some types of data are more valuable than others. However, the data being mentioned in this article is highly valuable. The data I am referring to is consumer data.
So, what is it about consumer data that makes it so valuable. Well, the answer to that is quite simple really, companies especially the marketing departments of companies require consumer data so that they can run a proper marketing campaign. And believe me when I say many marketers are willing to pay top dollar for consumer data.
Okay, so consumer data is valuable, and it is valuable because marketers need it, but how do these marketers get their hands on this consumer data. It is not as if they can just go to some company, and buy all this consumer data, right? Actually, that is exactly how marketers get the data they need, they purchase it from centralized data warehouses.
Do you know what the benefits of having your data sold by centralized warehouses is? Neither do I, and that is because there really aren’t any benefits of having your data stored and sold by some centralized data warehouse.
Swipe is making the first blockchain based data warehouse. Since Swipe is using blockchain technology to create their warehouse it is going to be completely decentralized.
Which means the Swipe data warehouse is nothing like the traditional centralized data warehouses that provide visually no benefit to anyone but themselves. In fact, the data warehouse being made by swipe will actually provide numerous benefits to everyone and anyone involved because of its decentralized nature.
These benefits include complete transparency, profit sharing, security and the ability to opt in and out of having your data sold. Also, the ability to actually choose who can and cannot buy your data.
