WIBSON DAPP EARNS YOU MONEY FOR DATA

Data is one of the essential key resource for companies and projects to be successful. A study from the International Data Corporation (IDC, 2017) predicts, that by 2025, around 160 Zettabytes of data will be created worldwide. This is 7 times more than today's data volume.
The possession of rich amounts of data is hardly unique in today’s world. Indeed, data itself is increasingly a commodity. But the ability to monetize data effectively and not simply hoard it can be a source of competitive advantage in the digital economy.

Problems

With the digitalisation of data, data storage, data mining and data usage have become quite easier than before. But with the growth of data in the near future, it especially will be more complicated to find and have access to the relevant data. Unfortunately most of the data goes to waste, because they are either unused or not used effectively, due to the lack of a use-case and know-how. On the other hand developers, creating apps with data, such as AI Machine Learning Algorithms, are in need of those data.

WIBSON PLATFORM IS THE SOLUTION

Wibson is seeking to create a blockchain-based, decentralized data marketplace that provides the infrastructure for individuals to securely and anonymously sell personal information that is validated for accuracy. Wibson is built upon a set of core principles: transparency, anonymity, fairness, censorship-resistant, and the individual’s ultimate control over the use of their personal information. Wibson Platform proposes a new market-based approach that leverages the latest developments in the blockchain, cryptography, and market design to level the playing field between Data consumers (companies, organizations) and data owners (essentially, individuals).
Wibson will aim to provide a marketplace inspired by the dPDM definitions while allowing for tradeoffs that are practical and necessary to ensure a market adapted to today’s industry structure. Part of the protocol is executed on-chain and part off-chain. In the Wibson marketplace, citizens, for the first time, will be able to participate in an efficiently functioning, decentralized data marketplace that provides both financial incentives and control over their personal information, all without sacrificing privacy.

Wibson Launches Blockchain-Based Marketplace for Consumers to Profit from Their Personal Data.Individuals in Argentina, Spain, and the U.K. will have first access to the app, marketplace and Wibson token
Wibson, the decentralized marketplace that enables consumers to profit from their personal data, today announced the launch of its mobile app, Wibson token (symbol WIB), and data platform in Argentina, Spain, and the U.K.

Wibson supports consumers' ability to sell their personal data directly to data buyers, such as technology platforms, advertisers, marketers, academics and data-for-social-good researchers. In the Wibson marketplace, consumers decide when and to whom they sell their data based on transparent, market-driven offers that clearly outline the data requested, price, intended use, and data buyer.

"Consumer data is now the world's most valuable asset," said Mat Travizano, Wibson's co-founder and CEO. "The Wibson platform and token provide consumers an easy way to profit from the personal data they create everyday, while asserting full rights of ownership over their personal information."

The company has previously received funding from DGG Capital, Kenetic Capital, and Telefonica's investment arm, Wayra, among others.

"Data is fueling growth for the biggest companies in the world, but new models like Wibson's are emerging to reshape the space," said Chema Alonso, Chief Data Officer of Telefonica. "With all the developments around personal data, Wibson is building an impressive team that's focused on a future when consumers demand control of their data."

Wibson Components

Seller Decentralized and Auditable Data Storage:- The market provides a de-centralized and auditable storage system, where private data is stored on the client side, and the blockchain provides references to the data, but not the data themselves.

Data Pricing Mechanism. On-chain: The Buyer publishes on the blockchain the price offered for each Data Order. After selecting Data Responses, the Buyer publishes on the blockchain the selected Sellers, the price paid, and the hashes of the data.

Payment System:- On-chain: The initial implementation uses Ethereum smart-contracts and an ERC20 token using the Zeppelins implementation Standard Token. The initial supply is 9.000.000.000 tokens with nine decimals.

Incentive System:- System that provides mechanisms and incentives to certify participants, verify that data is trustworthy, and incentivize honest marketplace participant behavior.

Decentralized Applications for participants to interact with the system:- Wibson provides Decentralized Applications (dApps) to support Data Sellers, Data Buyers, and Notaries’ participation in the marketplace.

Wibson provides data buyers direct access to consumers' validated authentic data and clear consent for its use in fully transparent, market-based transactions. There are three types of participants in the Wibson data marketplace:

Data sellers: Individuals who are looking to profit from their personal data in a trusted and transparent, market-driven environment.

Data buyers: Businesses and other entities, such as academic and social-good researchers, who want to purchase authentic and validated data directly from consumers.

Notaries: Organizations that can verify and validate personal data authenticity and accuracy and arbitrate disputes in a fair and consistent manner.

The interaction of these three roles is governed by smart contracts within the Wibson network that is deployed on the Ethereum blockchain.

With Wibson, data sellers' data remains on their own devices until they decide to sell, and only then is their encrypted data directly transferred to the buyer. Wibson never receives consumers' data or stores it on its servers. The Wibson marketplace orchestrates transactions based on well-defined, transparent offers that outline the terms of how the data will be used. Once a transaction is confirmed through a blockchain-managed, smart contract, individuals receive direct, secure payment in their mobile app Wibson token wallet.

Wibson Token

WIB is the acronym of Wibson Token, it will be the standard cryptocurrency used for making payments for services rendered on WIB network, and after Initial Coin Offering no WIB token will ever be created, minted or mined. WIB will fuel the development of the network and also provide fast, secure, transparent, efficient transactions on the network. WIB token offers the possibility of selling or buying of stored data while enforcing the use of data rules as set by the owner of the data. This utility token on Ethereum smart contract will help facilitate data exchange on Wibson network and also provide a great amount of data value on the network. Holders possess certain privileges which include: registration as the storage nodes (this simply means paid fees for storing data or transmitting data) and participation in the data market. Tokens derived from these activities mentioned above will be burned, this will, in turn, reduce the amount of WIB in circulation and it will also help increase the market value of WIB due to token scarcity. The WIB token will help facilitate compensation of data sources and storage nodes and enable a new era of secure and decentralized data storage and exchange.

CONCLUSION
Wibson is a viable project that would gain prominence in the coming years. Now, we have a decentralized approach for the storage and trading of personal information without fears of compromise. The solutions proposed by the project are feasible and encourages efficiency and transparency in the use of data. isn't this interesting, Join the revolution today.

TEAM

Click on the useful links below;

Website: https://wibson.org
app download link :https://play.google.com/store/apps/details?id=org.wibson.wallet
Twitter : https://twitter.com/WibsonOrg
Reddit: /r/wibson
Facebook : https://www.facebook.com/WibsonOrg/
LinkedIn: https://www.linkedin.com/company/wibson/

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