Changing the data market business model from buying and selling of your data to buying and selling the “use” of your data.
Current advertising data market industry involves selling and buying of data. Regardless of the type of data the advertisers are looking for, it’s all about collecting the data from various means, categorizing it, perhaps pseudo anonymizing it and selling the data to advertisers. And data, as it turns out, is a very lucrative business. The global market size of the advertising market is estimated to be US$600–800 billion and the internet makes up about half of that size.
You probably have heard this statement before. If it is free, you are probably the product being sold. And this is a very common way for the data market players to create a “free” application that allows the collection of data that the market players will buy and sell. The more accurate the data, the more valuable. Google, Facebook, Twitter, Microsoft, etc all use similar business models. But there are other players in this market, some you may have heard of in the news (Cambridge Analytics for example) or smaller companies that trade your data under the covers. They will collect from various sources, reshuffle, and resell the data to others.
But as with any business model, there are challenges and the data market is not without its share of issues.
Partisia Blockchain’s privacy first blockchain with research lead secure multiparty computation (sMPC) can help solve these issues and also provide data market participants with alternate business models that can bridge the gap between consumer privacy concerns and better data overall.
This changes the data market business model from buying and selling of your data to buying and selling the use of your data. By shifting the paradigm to a services model, new potential revenue streams become available while being able to solve some of the difficult challenges facing the advertising industry.
Projects like Blockchain-Ads and Kin are already looking to take advantage of this new model and we are exited to see where this will lead in the future.
Connect with us at build@partisiablockchain.com to see how we can help you create new business models, solve challenges and provide new incentives for the users to use your system.
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During the course of July, students, young professionals, academics, and industry leaders came together from across the globe for the SDG Summer School. This Summer School is organized by the University of Geneva and hosted in the SDG Innovation Lab, close to the United Nations as well as on different campuses around the world in parallel. Partisia Blockchain had the privilege of attending and actively participating in the program.
Groups of students were formed, assigned a coach and began to develop an idea into a project. The projects were all aimed at solving pressing problems and contributing to the Sustainable Development Goals (SDGs). After three weeks the groups pitched their projects to a jury consisting of decision makers from major institutions such as the University of Geneva, the Global Fund and the Olympic Committee.
I had the opportunity of representing Partisia Blockchain and coaching a group of students in creating an innovative solution to women’s health:
“Her Menstrual Trials” is an application using MPC and Blockchain to track women’s health trends and the effects of medications without revealing anyone’s personal health data. The blockchain would provide crypto-incentives to the participants and help store and track the data collected, while MPC would keep the data private, while allowing for real-time, continuous data collection from the participants.
Furthermore, Partisia Blockchain had the pleasure of sponsoring a student from Copenhagen to come to Geneva and participate in the Summer School.
The SDG Summer School is an impactful event empowering young minds to find solutions to the most pressing problems around the world. Partisia Blockchain is proud to support such an initiative and help to contribute to a brighter future for all.
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