Website | Whitepaper | Thread | Telegram |
By https://bitcointalk.org/index.php?action=profile;u=2230830
The data collection and allocation industry are massive industries right now and I can promise you they are not going anywhere anytime soon. Which is why these industries must be improved, because as of now these two industries are highly discreet. The reason I say discreet is because data collection and allocation are such massive industries, and yet people do not think of them that often… if at all.
Some people do not think of them because they believe such industries do not even exist. Others however, know they exist and yet they never bother to think about them until of course some massive data breach or something of that sort occurs. You see that is the problem with this industry it lacks transparency, and we all know that the best way to increase transparency in an industry is to introduce blockchain technology to it. Which is exactly what the team at Swipe intends on doing.
In this article I will list the problems with the current centralized data warehouses and how a blockchain powered data warehouse, such as the one being made by swipe will be a better alternative.
Traditional data collection and allocation are inherently flawed because there is little to no transparency in these industries right now. In fact, the lack of transparency in these industries begins right at the start of the process and continues all the way till the end.
For example, numerous apps and websites out there collect peoples’ data. Some of these websites do so without even asking for permission, and the others tend to use massive walls of text to get people to sign of the rights to their data. If you ever read through those massive walls of text you will notice that many of those websites and apps are basically just telling you that if you use their service, they will sell your data to whomever they please and they do not have to inform you about it.
Once these apps and websites have collected your data, they usually just sell it off to data warehouses. The data warehouses are a collection of databases that manage and mine your data. They specifically organize and allocate the data for each individual so that they can prepare it to be bought by companies.
The last step involves selling your data to a company, but of course people do not get to know which companies are buying their data because there is no transparency in this industry. Since people do not know who is buying their data they are completely unable to decide whether or not a certain company or entity should be refrained from purchasing their data. To make matters worse once a person has signed away the rights to their data to a company they also forfeit the right to ever opt out of having their data sold. Which means once a data warehouse has acquired your data they can sell it indefinitely.
The Swipe platform will use blockchain technology to bring transparency to the data collection and allocation industries. The Swipe team will provide developers with SDKs so that they can build apps on their platform. Apps built on the Swipe platform can collect peoples’ data as well, but these apps will offer transactional transparency whenever they sell someone’s data. The reason Swipe can easily offer transparency is because all transactions made on the Swipe platform will be made using blockchain technology. Blockchain technology keeps a public TX hash that lists all the transactions that take place.
This means that people will know which companies and entities are buying their data, therefore giving people the ability to refrain certain companies or entities from purchasing their data.
