๐Ÿ“š The Insane Potential of the Data Economy: Addressing Privacy Concerns and Exploring Blockchain Solutions

 

How the Commoditization of Data and Techno Megacorps are Shaping Our Future


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High Rollers:

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.

Cheers,
The Rollup

๐ƒ๐š๐ญ๐š ๐ข๐ฌ ๐ž๐š๐ฌ๐ข๐ฅ๐ฒ ๐ญ๐ก๐ž ๐ฆ๐จ๐ฌ๐ญ ๐ฏ๐š๐ฅ๐ฎ๐š๐›๐ฅ๐ž ๐œ๐จ๐ฆ๐ฆ๐จ๐๐ข๐ญ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐œ๐ž๐ง๐ญ๐ฎ๐ซ๐ฒ…๐ฌ๐ฎ๐ซ๐ฉ๐š๐ฌ๐ฌ๐ข๐ง๐  ๐จ๐ข๐ฅ, ๐ฌ๐ญ๐ž๐ž๐ฅ, ๐œ๐จ๐ฉ๐ฉ๐ž๐ซ ๐š๐ง๐ ๐ ๐จ๐ฅ๐.

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 ๐Ÿ‘‡

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.

For example:

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…

So irritating.

๐€๐ฌ ๐ฒ๐จ๐ฎ ๐œ๐š๐ง ๐ฌ๐ž๐ž, ๐ฆ๐š๐ง๐š๐ ๐ข๐ง๐  ๐š๐ง๐ ๐ฉ๐ซ๐จ๐ญ๐ž๐œ๐ญ๐ข๐ง๐  ๐ญ๐ก๐ข๐ฌ ๐๐š๐ญ๐š ๐ฉ๐ซ๐ž๐ฌ๐ž๐ง๐ญ๐ฌ ๐š ๐ฌ๐ข๐ ๐ง๐ข๐Ÿ๐ข๐œ๐š๐ง๐ญ ๐œ๐ก๐š๐ฅ๐ฅ๐ž๐ง๐ ๐ž ๐ฐ๐ก๐ข๐œ๐ก ๐›๐ฅ๐จ๐œ๐ค๐œ๐ก๐š๐ข๐ง ๐›๐š๐ฌ๐ž๐ ๐ญ๐ž๐œ๐ก๐ง๐จ๐ฅ๐จ๐ ๐ฒ ๐œ๐š๐ง ๐ก๐ž๐ฅ๐ฉ ๐ญ๐จ ๐ญ๐š๐œ๐ค๐ฅ๐ž.

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’.

After speaking to @theopelliet at @NebularBuilders in Paris this summer, it struck me that this niche is untapped and a HUGE market.

I was stoked.

Here’s why:

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.

๐ˆ๐ญ๐ฌ ๐š ๐ฉ๐ฅ๐š๐œ๐ž ๐ฐ๐ก๐ž๐ซ๐ž ๐๐š๐ญ๐š ๐ข๐ฌ ๐ง๐จ๐ญ ๐ฃ๐ฎ๐ฌ๐ญ ๐š ๐œ๐จ๐ฆ๐ฆ๐จ๐๐ข๐ญ๐ฒ ๐›๐ฎ๐ญ ๐š ๐ซ๐ž๐ฌ๐จ๐ฎ๐ซ๐œ๐ž ๐ญ๐ก๐š๐ญ ๐œ๐š๐ง ๐›๐ž ๐ก๐š๐ซ๐ง๐ž๐ฌ๐ฌ๐ž๐ ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐›๐ž๐ง๐ž๐Ÿ๐ข๐ญ ๐จ๐Ÿ ๐š๐ฅ๐ฅ.

OKP4 has created a general-purpose ecosystem enabling “XaaS” (Anything as a Service) integration…

These services include:

โ€ฃ ๐——๐—ฎ๐˜๐—ฎ ๐—ฎ๐˜€ ๐—ฎ ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ โ€” Data management services include storage, accessibility, and administration.

โ€ฃ ๐—”๐—น๐—ด๐—ผ๐—ฟ๐—ถ๐˜๐—ต๐—บ ๐—ฎ๐˜€ ๐—ฎ ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ โ€” Provides services that process data to generate meaningful information (i.e., knowledge), such as machine learning algorithms.

โ€ฃ ๐—œ๐—ป๐—ณ๐—ฟ๐—ฎ๐˜€๐˜๐—ฟ๐˜‚๐—ฐ๐˜๐˜‚๐—ฟ๐—ฒ ๐—ฎ๐˜€ ๐—ฎ ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ (๐—œ๐—ฎ๐—ฎ๐—ฆ) โ€” refers to services that provide computation, storage, and networking resources.

โ€ฃ ๐—œ๐—ฑ๐—ฒ๐—ป๐˜๐—ถ๐˜๐˜† ๐—ฎ๐˜€ ๐—ฎ ๐—ฆ๐—ฒ๐—ฟ๐˜ƒ๐—ถ๐—ฐ๐—ฒ โ€” Services that provide decentralized identity management.

The potential use cases of the Dataverse are vast and varied. In agriculture, OKP4โ€™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.

๐‘Š๐‘’๐‘™๐‘๐‘œ๐‘š๐‘’ ๐‘ก๐‘œ ๐‘ก๐˜ฉ๐‘’ ๐ท๐‘Ž๐‘ก๐‘Ž๐‘ฃ๐‘’๐‘Ÿ๐‘ ๐‘’, ๐‘Ž๐‘›๐‘œ๐‘›. ๐‘‡๐˜ฉ๐‘–๐‘›๐‘”๐‘  ๐‘š๐‘Ž๐‘ฆ ๐‘๐‘’ ๐‘๐‘ข๐‘š๐‘๐‘ฆ, ๐‘๐‘ข๐‘ก ๐‘ค๐˜ฉ๐‘’๐‘Ÿ๐‘’ ๐‘ค๐‘’๐‘Ÿ๐‘’ ๐˜ฉ๐‘’๐‘Ž๐‘‘๐‘’๐‘‘ ๐‘ฆ๐‘œ๐‘ข ๐‘ค๐‘–๐‘™๐‘™ ๐‘”๐‘’๐‘ก ๐‘๐‘Ž๐‘–๐‘‘ ๐‘“๐‘œ๐‘Ÿ ๐‘ฆ๐‘œ๐‘ข๐‘Ÿ ๐‘ข๐‘ ๐‘’๐‘Ÿ ๐‘‘๐‘Ž๐‘ก๐‘Ž ๐‘Ž๐‘›๐‘‘ ๐‘Ÿ๐‘’๐‘ก๐‘Ž๐‘–๐‘› ๐‘ฆ๐‘œ๐‘ข๐‘Ÿ ๐‘๐‘Ÿ๐‘–๐‘ฃ๐‘Ž๐‘๐‘ฆ. ๐‘†๐‘ก๐‘Ÿ๐‘Ž๐‘ ๐‘–๐‘›.


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Avatar photo About the author: We help you explore DeFi onchain w/ foolproof education & relevant research to give you an edge. Focused on L2s. Scaling to mass adoption one block at a time๐Ÿ™

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