How the Commoditization of Data and Techno Megacorps are Shaping Our Future
NFL Season is available to trade on Overtime – Sports market AMM built on Thales Market, a Synthetix ecosystem project. Earn your share of 90k $OP, 90k ARB, and 180k $THALES in incentives. Try it 👉🏽 HERE!
Premia Finance is a decentralized options protocol that revolutionizes market-driven pricing and provides capital-efficient returns for all. Head over to Premia Finance today and start taking advantage of the future of decentralized finance! HERE.
Data is undeniably the most valuable resource in today’s digital age.
Its influence on our lives and the world around us has propelled tech companies to unprecedented economic growth. However, the commoditization of data and the invasion of privacy by techno megacorps have raised significant concerns.
In this post, we will delve into the issues plaguing the current data economy, explore how blockchain-based infrastructure could offer a solution, and take a glimpse at the innovative technologies shaping this landscape.
Join us as we uncover the staggering growth of the data economy and the potential it holds for the future.
𝐃𝐚𝐭𝐚 𝐢𝐬 𝐞𝐚𝐬𝐢𝐥𝐲 𝐭𝐡𝐞 𝐦𝐨𝐬𝐭 𝐯𝐚𝐥𝐮𝐚𝐛𝐥𝐞 𝐜𝐨𝐦𝐦𝐨𝐝𝐢𝐭𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐜𝐞𝐧𝐭𝐮𝐫𝐲…𝐬𝐮𝐫𝐩𝐚𝐬𝐬𝐢𝐧𝐠 𝐨𝐢𝐥, 𝐬𝐭𝐞𝐞𝐥, 𝐜𝐨𝐩𝐩𝐞𝐫 𝐚𝐧𝐝 𝐠𝐨𝐥𝐝.
If this rings true to you, would you agree that the Total Addressable Market (TAM) for data-based companies is insanely high?
Would you also agree that the commoditization of data is extremely problematic considering the direct invasion of privacy by techno megacorps?
I sure as hell would.
If you do (or don’t), then keep reading, because in today’s post I’ll highlight the issues with the current data economy, how blockchain based infrastructure *could* make a dent in this space, and a quick look into the innovative tech we have today 👇
In the digital age that we exist in today, data has unarguably become the one of the most valuable resources in the world.
It shapes our lives and the world around us and has led to significant economic growth for many tech companies.
If you look at the growth of data from 2014-current below (in the last 4 years, the growth has been even more steep) you can see the radical increase in the data economy for big nations, with future projections soaring higher exponentially:
This is great for the economy and for companies which rely on data analytics, or advertisers who sell data/use data-based marketing on their platforms.
As a purchaser of ads on Facebook, the amount of data resources you get access to is UNREAL.
I can legit target a golf ad for men between 35-55, in a specific city, with a set list of target interests, liked FB pages, previous purchases and more.
Its insane…and insanely profitable for many companies which advertise on FB. Personally, this doesn’t *bother* me much.
However, what really bothers me is when large tech corps sell massive data lists to other companies and then these purchasers engage in annoying guerilla marketing.
Unwanted emails, cold calls and spam physical mail…
𝐀𝐬 𝐲𝐨𝐮 𝐜𝐚𝐧 𝐬𝐞𝐞, 𝐦𝐚𝐧𝐚𝐠𝐢𝐧𝐠 𝐚𝐧𝐝 𝐩𝐫𝐨𝐭𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐝𝐚𝐭𝐚 𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐬 𝐚 𝐬𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞 𝐰𝐡𝐢𝐜𝐡 𝐛𝐥𝐨𝐜𝐤𝐜𝐡𝐚𝐢𝐧 𝐛𝐚𝐬𝐞𝐝 𝐭𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐜𝐚𝐧 𝐡𝐞𝐥𝐩 𝐭𝐨 𝐭𝐚𝐜𝐤𝐥𝐞.
The natural properties of blockchains enable encryption, immutability, and other features for ensuring privacy and data reliability.
Each block verifies the previous block(s), eliminating the possibility for tampering with previously inserted data from the past.
Cryptography enables private keys to be used for verification.
Transparency of the blockchain’s public ledger ensures legitimateness. I truly believe there is a massive niche for data-based crypto companies to make their dent in this industry, specifically @OKP4_Protocol, a @cosmos based appchain L1 which is designed to address the challenges aforementioned by enabling communities to share data, algorithms, and resources to build the ‘dataverse’.
I was stoked.
OKP4 is a protocol allowing anyone to enhance the valuation of digital resources by breaking down barriers that prevent free flow of information and thereby creating a space where knowledge can be shared and accessed freely.
See the diagram below to understand a flow of knowledge sharing utilizing OKP4:
Its not just about creating an open knowledge universe; it’s also about protecting it. The protocol is designed with privacy and security in mind, ensuring that your data is not just accessible but also safe.
The dataverse, as envisioned by OKP4 is an open world where anyone can create or participate in custom ecosystems to build a new generation of dApps far beyond DeFi.
𝐈𝐭𝐬 𝐚 𝐩𝐥𝐚𝐜𝐞 𝐰𝐡𝐞𝐫𝐞 𝐝𝐚𝐭𝐚 𝐢𝐬 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐚 𝐜𝐨𝐦𝐦𝐨𝐝𝐢𝐭𝐲 𝐛𝐮𝐭 𝐚 𝐫𝐞𝐬𝐨𝐮𝐫𝐜𝐞 𝐭𝐡𝐚𝐭 𝐜𝐚𝐧 𝐛𝐞 𝐡𝐚𝐫𝐧𝐞𝐬𝐬𝐞𝐝 𝐟𝐨𝐫 𝐭𝐡𝐞 𝐛𝐞𝐧𝐞𝐟𝐢𝐭 𝐨𝐟 𝐚𝐥𝐥.
OKP4 has created a general-purpose ecosystem enabling “XaaS” (Anything as a Service) integration…
These services include:
‣ 𝗗𝗮𝘁𝗮 𝗮𝘀 𝗮 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 — Data management services include storage, accessibility, and administration.
‣ 𝗔𝗹𝗴𝗼𝗿𝗶𝘁𝗵𝗺 𝗮𝘀 𝗮 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 — Provides services that process data to generate meaningful information (i.e., knowledge), such as machine learning algorithms.
‣ 𝗜𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗮𝘀 𝗮 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 (𝗜𝗮𝗮𝗦) — refers to services that provide computation, storage, and networking resources.
‣ 𝗜𝗱𝗲𝗻𝘁𝗶𝘁𝘆 𝗮𝘀 𝗮 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 — Services that provide decentralized identity management.
The potential use cases of the Dataverse are vast and varied. In agriculture, OKP4’s data solutions could generate unique new insights to enhance results for farmers and brands, and provide transparency to end-consumers.
In the detaverse and its gaming ecosystem, the dataverse could address issues of data sovereignty and technological lock-in.
In supply chains, data sharing could enable companies to gain a more comprehensive understanding of their operations. For NGOs, a more powerful and versatile system.
OKP4 enables the transfer of data from offchain sources into the onchain world in a trustless & reliable manner.
In the image below, you can see whats known as an Orchestration Service (OS). The OS interprets the instructions/task recorded in a tx onchain and then “talks” with service A & B to execute the desired workflow.
I could see a future where the tech behind OKP4 is used for bridging offchain & onchain ‘intents’, a buzzword we’ve been hearing a ton recently.
Speaking of intents, I’ll have a few really interesting research pieces for you this week…
Gib follow @ayyyeandy to stay up to date and ahead of the competition…
To wrap this post up:
With the recent emergence of decentralized social networks and a generation of terminally online people waking up to the evil of mega-goliath data consumers, we will see a shift towards positive change.
It may take some time, but I believe it will happen.
One of those “slowly, then all at once” situations.
OKP4 is pioneering the way we approach data management and protection. Should the team succeed, we could seef a future where data is not just a resource but a tool for empowerment, and where knowledge is open and accessible to all. I’m happy to be helping the team since we met in Paris and look forward to what comes out of this industry.
𝑊𝑒𝑙𝑐𝑜𝑚𝑒 𝑡𝑜 𝑡𝘩𝑒 𝐷𝑎𝑡𝑎𝑣𝑒𝑟𝑠𝑒, 𝑎𝑛𝑜𝑛. 𝑇𝘩𝑖𝑛𝑔𝑠 𝑚𝑎𝑦 𝑏𝑒 𝑏𝑢𝑚𝑝𝑦, 𝑏𝑢𝑡 𝑤𝘩𝑒𝑟𝑒 𝑤𝑒𝑟𝑒 𝘩𝑒𝑎𝑑𝑒𝑑 𝑦𝑜𝑢 𝑤𝑖𝑙𝑙 𝑔𝑒𝑡 𝑝𝑎𝑖𝑑 𝑓𝑜𝑟 𝑦𝑜𝑢𝑟 𝑢𝑠𝑒𝑟 𝑑𝑎𝑡𝑎 𝑎𝑛𝑑 𝑟𝑒𝑡𝑎𝑖𝑛 𝑦𝑜𝑢𝑟 𝑝𝑟𝑖𝑣𝑎𝑐𝑦. 𝑆𝑡𝑟𝑎𝑝 𝑖𝑛.
🙌 Together with:
It’s officially time to start testing the first version of Synonym. Break things, provide feedback, and of course, get rewarded.👉🏽 Here
Off-chain governance. On-chain execution. Optimistically execute governance transactions on-chain where your community can approve them. Check it out Here!
The Rollup Report 📰📊📈
⚠️ DISCLAIMER: Investing in cryptocurrency and DeFi platforms comes with inherent risks including technical risk, human error, platform failure and more. At certain points throughout this post, we might get a commission for promoting certain projects, if this is the case we will always make sure it is clear. We are strictly an educational content platform, nothing we offer is financial advice. We are not professionals or licensed advisors.