Advertising has many forms but all tend to the single goal. Over the decades, it has changed considerably in terms of technology, research, and medium. The core mission of the advertising remains the same. So, as the saying goes, If the services offered are free then you are the product. Many websites in the world of the internet offer free services and content to their users. And, in return, they collect a large volume of data, like Google and Facebook.
Recent controversy of the Facebook and Cambridge Analytical is the reflection of the problems in the current market. Companies are offering a large volume of personal data of their users to the third parties and advertisers for the sake of profit. Third parties are developing applications to mine the personal data of the users of the platform. The lack of trust and accountability is the biggest challenge for the industry. The advertising world has to fight with many more challenges to create an open and transparent platform.
The skyrocketing growth of the online market that we have seen lately has resulted in the ongoing accumulation of Big Data. Following the spate of scandals around online platforms reportedly misusing this information, transparent and ethical use of Big Data has grown into a challenge that the market can no longer ignore. Enkronos believes that they can answer the problem with a blockchain-based app marketplace. The security and transparency provided by blockchain are thought to make Big Data more trustworthy, thus eliminating several psychological and juridical blocks that prevent it from being used to the maximum.
Enkronos Apps platform
Enkronos is creating a platform that will enable a vast variety of options for using customer data. They plan to make the accountability system “full trusted not manipulable publicly available” to guarantee the ethical usage of data. Using Enkronos apps will only be possible with ENK tokens, which will render operations registered and tracked in a secure way, eliminating the chance of it being deleted or changed. Some of the apps, such as Loyalty Venue and FeelGrid, have already been up and running for some time.
Tokenomics-based dApps
Enkronos wants to provide businesses with a tool set allowing to improve how they operate using Enkronos apps. Their data will be saved in private ledgers or databases. Corporate users will be charged fee for utilizing the platform in ENK tokens. End users will be able to pay for services and purchase goods using the tokens they can gain as a reward within token-based loyalty programs.
Author = Cenatown