Ethereum update: How Datum will work
It turns out that every activity on the internet is used and exploited by the providers of free platform like google, gmail, facebook, instagram and so on. Any activity such as status updates, comments, like, email, share and typing keywords on search engines will generate data recorded by the machine. Those data will be processed with math statistics and will produce a demographic source that can indicate your habits, behaviour and desires of the free platform users.
The data that you produce voluntarily will belong to the platform provider and can be sold to companies that want to advertise in order to target the right audience. And puff, that ads pop up on your browser page.
This business model is known as the hidden revenues business model. This business model strings a pattern based on the fact that almost all humans are very fond of cheap or even free services. So no wonder if the free providers like Google eliminates the charges some of its main services, with more and more users then they will get more and more data and entitled to record every activity of its users on the internet. Then with the “Ads Director” program like google adwords, Google will sell the user activity data to advertisers who want their product ads to be seen by people who really need them.
According to the facts, each day we generate 2.5 Quintillion bytes of data and most of the data is stored on the centralized servers and owned by private companies like Google and Facebook. 90% (ninety percent) of the total data in this world is currently produced only in the past 2 years. In addition, it turns out we also only use 5% of the total transaction data that occurs on the internet, 95% other hidden and represent a huge potential.
From these facts, the use of data needs to be utilized properly to perform the mutual collaboration and profit sharing between the platform providers and its users. Like oil, data should be treated appropriately to avoid problems: Data Exploitation, Data Leakage, Data Security and Data Information Query.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference.
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