WIBSON / Decentralized Data Marketplace

By 𝓲𝓫𝓻𝓪𝓱𝓲𝓶 𝓖ü𝓵ş𝓮𝓷 | Kripto Analizlerim | 1 Jul 2019

INTRODUCTION

You sure should be interested in Wibson if you use the internet and gotten your data stolen or miss used without you knowing. The internet has been sensational, but the Blockchain introduction into our world has been very helpful, virtually all we do now can be on the blockchain. The first blockchain was that of the bitcoin mainly for cryptocurrency, but the ethereum blockchain brought in an innovative concept into blockchain space, allowing individuals to build a decentralized application that can serve several purposes. The underlining language is the ability for smart contracts written in such-away to allow agreement between users. With this smart contract computers can communicate within themselves through the internet to complete transactions or commands. So many platform have keyed into this concept one of such is Wibson.

Talking about personal data, since the introduction of the internet and the sharing of data online for transactions people have lost their private data to hackers or companies that use them for advertisement. Most times all this are done without owners consent because tech companies uses technical protocols to obtain ones information. With Wibson marketplace all of that stops you own and control your data.

Wibson is a marketplace where individuals can sell their private data. Wibson allows individuals data to be monetized through their dAPP. Individuals can control their data and disallows advertising or marketing companies from making use of their data without their (individuals) approval. Wibson dApp is built in a way to verify every data to validate it for accuracy.

HOW IT WORKS

Using WIB network client software users can submit a piece of data after paying for gas to submit the data, the user will provide a decryption key to all interested parties since the data is encrypted and he’s the only person with the key. A storage node then receives the sent data and store it securely after replicating it to multiple storage nodes for safe keeping. Whenever a data consumer shows interest and wants to purchase the piece of data the owner receives a notification (ie purchase request) including the details of the client and price offered. The owner can choose to accept or decline the offer (this is at the sole discretion of the owner) but if he eventually accepts any of the received requests, he gets rewarded or paid in WIB tokens after which he sends the decryption key to the data consumer for easy access.

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Problem

The present economy that we are in, the data are approaching in the cash. Sadly this is not a cash for you. This is a problem that we face nowadays. Goliath tech organizations astutely utilize the Internet's basic specialized conventions to catch and control your own data.

Solution

The Wibson information commercial center gives framework and money related motivating forces to people to safely sell private data that is approved for precision, all without yielding individual security.

The Benefits

As far as recent and upcoming ICO’s go, there are several blockchain-based platforms looking to reorient users’ relationship with their data. However, only Wibson provides a way for them to capitalize on this information. The process is surprisingly simple.

Guided by their core principles, Wibson protects user data by providing anonymity and control to a once invasive and secretive practice.

Not only does this allow users to monetize their data, but because Wibson is hosted on the blockchain, it guards against DDoS attacks, which have plagued centralized platforms and have compromised user data at alarming rates.

It’s this combination of compensation and security that makes Wibson such a compelling platform.

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Wibson CEO and Co-founder Mat Travizano said: “One of Wibson’s primary aims is to provide consumers with an easy way to be rewarded for the personal data they create every day. The notary feature ensures that data in the Wibson marketplace is always authentic, recent, and high quality. This is a big improvement from the way that traditional marketplaces and aggregators handle personal data today. We want to create a transparent and fair environment where consumers and data buyers, such as marketers and advertisers, are all treated fairly and can fully benefit from the free flow of data in the economy.”

Concept

Wibson is a blockchain-based, decentralized data marketplace that provides the infrastructure for individuals to securely and anonymously sell private information that is validated for accuracy. Wibson is built up on a set of core principles: transparency, anonymity, fairness, censorship resistant, and the individual’s ultimate control over the use of their personal information.

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General Discussion

The Wibson contracts primary function is to distribute tokens among beneficiaries using lock-up and vesting mechanisms using the standard OpenZeppelin contracts TokenTimelock and TokenVesting.

The contracts use OpenZeppelin’s SafeMath which defines functions for safe math operations that will throw errors in the cases of integer overflow or underflows, OpenZeppelin’s SafeERC20, and OpenZeppelin’s Ownablemodifier.

The repository contained 53 truffle-based tests that ran and passed out of the box without requiring modifications. While New Alchemy generally utilizes the test cases to aid in inspecting and understanding the smart contract source code, they are outside of the primary security scope of the audit. Nonetheless, a large number of passing test cases is an excellent leading indicator of good quality.

Managing Partner of Kenetic Capital Jehan Chu said, in a statement, “The Wibson marketplace not only benefits consumers by providing them the ability to control and monetize their personal information, it gives 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, such as GDPR [General Data Protection Regulation] come into effect in the coming months. Wibson is addressing a huge personal data opportunity with a very intelligent and thoughtful approach.”

Wibson is a project from the team behind Grandata, which states that its mission is to create a trusted universal data platform that maximizes value for both individuals and companies.

Spanish telecom giant Telefónica has partnered with Wibson, a blockchain-based consumer data marketplace, to trial a data verification capability that validates the authenticity of consumer data in its system.

Established in October of 2017, Wibson is a project from the team behind Grandata that aims to create a trusted universal data platform that maximizes value for both individuals and companies. It is backed by DGG Capital, Kenetic Capital, and Telefónica’s investment arm, Wayra, among other industry-leading investors.

Wibson has created a decentralized, blockchain-based personal-data marketplace that provides infrastructure and financial incentives for individuals to securely sell private information directly to data buyers, without sacrificing personal privacy. Consumers decide when and to whom they sell their data based on transparent, market-driven offers that clearly outline the data requested, price, and intended use.

WIB TOKEN

WIB is an acronym of WIBSON TOKEN, it is an ERC-20 complaint token created on the ETHEREUM smart contract. It was created to fuel the WIBSON data market place, and it will be used as the standard mode of payment for services rendered on the marketplace. WIB tokens maybe rewarded to the individuals who uses the WIBSON MOBILE APPLICATION

TOKEN ECONOMICS

NAME: WIBSON
TICKER: WIB
NETWORK: ERC-20 COMPATIBLE
TOTAL SUPPLY 9,000,000,000 WIB

WIB IS ALREADY LISTED & TRADEABLE ON COINSUPER

WIBSON APP DOWNLOAD

TOKEN ALLOCATION

COMPANY: 20%
PURCHASERS: 40%
MARKET PARTICIPANTS: 40%

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Conclusion
In a wоrld, thаt іѕ dеvеlоріng to fullу grasp digitalization, information gеnеrаtіоn іѕ gоіng tо be the оrdеr of thе dау. All together tо brеаk thе cycle іn dаtа hоаrdіng еxреrіеnсеd in mоѕt unified рlаtfоrmѕ, thе Wіbѕоn рrоjесt undеr the power оf thе dесеntrаlіzеd blосkсhаіn іѕ оffеrіng advanced ореrаtоrѕ the орроrtunіtу tо tаkе соntrоl оf thеіr esteemed dаtа whіlе dеlеgаtіng thеm оff tо willing соnѕumеrѕ оn their very own tеrmѕ wіthоut dереndіng on аnу оthеr bоdу. Thаt’ѕ dаtа exchanging, thе Wibson wау.

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