Sirwin
Sirwin

Crypto and the Rise of the Prosumer

By Incent | Incent Loyalty | 28 Oct 2019


Your data is valuable. You should be paid for it – and Incent makes that happen.

The internet has changed just about everything in our lives over the past 25 years, from the way we communicate and shop to how we work and relax. One of the big shifts has been towards the so-called Sharing Economy. This sees products and services sourced directly from other consumers, putting people directly in touch with each other to meet demand rather than relying on a large company to act as an intermediary and administrator. 

Prosumption

In parallel to this, there is a shift towards people becoming producers as well as simply consumers: ‘prosumers’. Those who consume products and services also help to design and produce them for other people. Online marketplaces like Etsy are a classic example. But the phenomenon goes far beyond the realm of physical goods and arguably finds its fullest expression in the online communities who both create and consume media of all kinds. Just think of the way YouTube enables anyone to upload their own video content, or Twitter enables anyone to be a reporter, commentator or influencer.

Data prosumers

But we can take another step further back. Consciously or not, intentionally or otherwise, anyone who uses the web is a prosumer. In the course of consuming almost any service, we also give companies access to personal data and insights. Data is the ‘oil of the internet’, and giving up control of our data is the price we tacitly pay in return for apparently free internet services such as email and social networking. However, this data collection has become increasingly intrusive, and privacy policies far from transparent. Companies are cashing in on our lack of awareness, at best – if not actively exploiting it.

Paying for your data

This is as true within the loyalty industry as any other. A recent report warned that information was being collected on reward programme members without their knowledge – even if they don’t scan their cards. Privacy policies are typically opaque, so no one has much of an idea what is being done with their personal data. 

There are two issues here:

  • Consumers are not being paid for a valuable resource they produce
  • This resource is often then used to exploit them, costing them more

Incent is on a mission to change this pervasive injustice by ensuring that people are paid for the data they provide. As a prosumer, it’s entirely fair that you should receive a reward for creating a valuable resource. That’s the least you deserve. It’s also reasonable to expect that the terms of that transaction should be straightforward and transparent.

Incent and privacy

This is also why Incent’s own privacy policy is clear – clear enough for a regular human to read and understand, unlike so many other companies. We believe that you should benefit from the financial value of your data, but should categorically not be exploited by it. One of the key ways we protect your identity is pooling information from many users and creating one measurement or quantity that cannot be used to identify any single person. (E.g. we may tell a partner that their advertising campaign will be sent to 25-45 year-old Australians.)

If you’re happy with what we do and how we do it, then sign up, spend as normal and start getting paid for going about your everyday life.

 

Incent is live!  Australian users can access rewards in Incent tokens on every spend they make. To find out more, visit www.incent.com.  

 

 

Disclaimer: 

The content of this article does not intend to provide any general or personal financial product advice (as defined in Section 766B of the Corporations Act). It is meant to be informational and of a general nature only. You therefore need to carefully consider whether the information in this article is relevant to you in light of your particular needs and circumstances. 

INCNT is a cryptocurrency and its value (along with other cryptocurrencies mentioned in the article) will depend entirely on the current market supply and demand. Therefore, we cannot guarantee the value of any cryptocurrency (including INCNT) at any time, nor do we guarantee that the value of any cryptocurrency (include INCNT) will either rise or fall (or become valueless) in relation to any other form of value, including fiat currency, or other digital currencies. The article is not an endorsement of any type of cryptocurrency.

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Incent
Incent

Incent is a blockchain rewards system that enables anyone to save and grow wealth in crypto through their everyday spending. www.Incent.com.


Incent Loyalty
Incent Loyalty

Incent is a blockchain rewards system that enables mainstream consumers to save and build wealth through crypto - on every spend they make.

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