The blockchain is considered a major movement through the future of the world and a grand innovation itself by the masses increasing day by day all around the world. It is not only a paradigm shift for the software sector but also an entirely new restart unfolding the new horizons for anybody forms any branch.
When we consider the true nature of the blockchain, it is applicable almost every part of our lives. Global data and personal information market isn't left behind.
The global data/personal information market runs into billions of Dollars. This informs the reason why companies and brands are willing to part with a huge sum of money to have a peck into your information. Sadly, the originators/owners of such information, which are users, do not have any income accrued to them from this growing market. Join me as i lead you into this revolutionary platform.
Wibson has developed a revolutionary decentralized ecosystem that empowers us to be in charge of our data. Aside from this security approach, users also have the privilege of trading personal information, which was not tenable before now. Hence, Wibson’s coming into the whole affair is commendable and revolutionary. I find this really exceptional.
Established in October of 2017, Wibson has created a decentralized, blockchain-based personal-data marketplace that provides infrastructure and financial incentives for individuals to securely sell private information that is validated for accuracy, all without sacrificing personal privacy. Wibson is a project from the team behind Grandata with a mission to create a trusted data ecosystem that maximizes value for both individuals and companies. Isn't this interesting!
HOW WIBSON PLATFORM WORKS
Please read carefully as i explicitely explain how wibson platform works.
Wibson helps level the playing field, On the Wibson platform there are different players, buyers, sellers and notaries. Buyers of data will place an order on the Wibson platform through the smart contract. A notary will also have to accept auditing the order that was placed. A notary is a middle person that audit the transaction between the buyer and seller. The data seller then views the orders and decide if the transaction is what can scale having seen the buyer’s price. In advent of seller accepting the buyer’s price seller sends data response to the public URL of buyer without sending the real data. Seller still goes ahead to monitor buyer’s response and agreement is sealed and buyer pays. Notary is also paid a commission for overseeing the transaction and the transaction is closed. All this can happen in minutes in a transparent, fair and anonymous state. One of the Notary Wibson has partnered with is the Telefonica. They will assist in confirming data on the Wibson platform, they will also arbitrate in case there is any disagreement between buyers and sellers. They will do this with all honesty and professionalism.
● Data Audit and Storage
Although the uniform ecosystem ensures that users personal information doesn’t get into the hands of giant tech companies that continuously seek them, Wibson also has separate storage and audit where personal information is securely kept with only the references made available to every other member of the ecosystem.
● The Querying System on the on-chain platform makes it possible for buyers to place orders for data with lucid specifications of their needs.
● The third mechanism, which is Data Pricing, allows a buyer to publish the amount the user is willing to pay for the proposed data. The buyer then awaits proposals from data owners, whose personal information matches the specifications, and who are willing to trade at the fixed rate. It is then up to the buyer to choose a seller that appeals to him and make payment for the data. The final step is the publication of the transaction amount, the hashes of the data, and details of the seller.
It’s worth noting that buyers and sellers are the major stakeholders in the data market. Nevertheless, in the decentralized ecosystem proposed by Wibson, these two alongside a notary would take an active part in the ecosystem.
While the buyers and sellers would be involved in the purchase and sale of personal information respectively, the notary on its part serves as a verification mechanism to ensure transparent and hitch-free data trades.
At the core of Wibson’s wide range of solutions is the financial incentive it offers to participants. It also ensures that transactions are secure and wouldn’t be sacrificed in exchange for value. The platform also ensures that users maintain maximum control over their data, and empowers users to check the uses of their personal information, even after trading it.
WIB is the acronym of WIBSON Token, it will be the standard cryptocurrency used for making payments for services rendered on WIB network, 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.
NETWORK: ERC-20 COMPATIBLE
TOTAL SUPPLY 9,000,000,000 WIB
MARKET PARTICIPANTS: 40%
CONCLUSIVELY, Wibson platform will not only benefit consumers by providing users with the ability to control and monetize their personal information, but it will also give corporate marketers and advertisers access to high quality, verified data and an explicit consumer consent mechanism which will be absolutely critical as new privacy regulations come into effect. Join this revolutionary platform today and be sure of taking a step in the right direction.
FOR MORE INFORMATION PLEASE VISIT THE LINKS I HAVE PROVIDED BELOW;
app download link :https://play.google.com/store/apps/details?id=org.wibson.wallet
Twitter : https://twitter.com/WibsonOrg
Facebook : https://www.facebook.com/WibsonOrg/
BountyOx Username: Brainerdpaul