Have you ever thought if every object in the world could speak? Well, today they are doing it. Today, everything has become data-centric, whether its journalism or Business or buying a new car. Data Equals decision. A balanced decision to approach a problem, or find out the solution through data. Companies are relying heavily on the datasets to create meaningful results. Your Personal Data is key to your life. This reminds me that I need to be careful about my personal information.
Who are you? How Do You Verify Yourself in the Online World? These are a few of the questions you can ask yourself if you're personal data is public on the internet. Your identity in the online World is always at risk because your personal data is stored in company's server. And, they are treating it as their own property. Companies in the tech space are making huge profits from our data by selling it to the third party.
This industry is estimated to be around 156 Billion $ to 300 Billion $. Would you like to live in a future where your personal data is somebody else's Property, and they are making an industry out of it? The personal data and identity management is something that not a lot of companies want to work on because it will put a limit on their wealth of free data. They are more interested in making you share everything with them so that they can have quality data to bank upon.
LOOMIA is working on the solution of personal data management with the help of Blockchain technology. Your data stays with you. They are designing the smart fabric which can easily be integrated into your clothing. It is the perfect mixture technology and fabric. We love our clothing and now they will be used to collect data about us.
The LOOMIA TILE powers up the special fabric which collects data from your body. You get to decide whether you want to sell off this data or Not. Companies can legally buy that data from you to improve their product and decisions. They are also designing heated boots, which changes temperature according to the environment.
Future
Well, their Idea looks great but products are yet to arrive in the market. They clarify that they are not a fashion company but a tech company dealing with companies, who care about consumer's Data.
We are nothing more than data bots for companies whose only aim is profit. In the Future, Nothing will matter except Data. Creating technology that let us secure our data will be in demand while we have to be wary of our personal information. LOOMIA may be creating an innovative solution for the future but wait till their Product arrives to prove so.
Know more at:
https://loomia.com/token/
https://www.loomia.co/token#whitepaper
Published By:Kishan
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1027561
