In today’s world, the internet has taken over everything. However, the same internet was supposed to be a decentralized system yet giant companies have used it to make giant conglomerates. Though the internet holds data for billions of people, giant tech companies are the only one benefiting from the data. They access and control user’s personal information and use it for their benefit. Wibson is a blockchain based marketplace that proposes to offer users a new market for their data. It’s a decentralized data marketplace that leverages the power of cryptography, blockchain, and market design to bridge the gap between consumers and data owners.
Wibson core principles
- Fairness: wibson allows individuals to exchange access to data for a certain amount of value. The supply and demand of the marketplace are used to dictate the price and value of data from individuals.
- Transparency: users have complete visibility, who and where their data is used. The platform offers complete transparency to users.
- Control: the person who controls an individual personal data is the individual themselves. No one can control the data for them, which puts them in complete control of their data and who they want to sell it to.
- Anonymity: the identity of users on the platform is never revealed to anyone other than the users themselves. If someone needs to see an individual identity, they need permission from all relevant parties.
How Wibson works
Wibson uses a mobile app and users and also access its services through the official website. Once the app is installed on your phone, individuals will be able to connect to data sources, then monitor offer from buyers. After deciding the buyer and the transactions are completed and confirmed, consumers receive payment for sharing access the data.
Wibson also uses the smart contracts that govern how an individual’s personal information is used. Typically, the data buyers looking for validated data for their businesses can use the platform. The platform runs on a private Ethereum test network.
Wibson is led by CEO Matias Travizano, CTO Martin Minnoni, Carlos Sarraute, Research and CMO, Geoff Baum. The team also includes a group of developers and marketers among other experts.
With billions of people using the internet, their data is being compromised on a daily basis. Most of them have no control over the data. Wibson has the solution to this problem. It offers data owner complete control and transparency of their data. It offers users another way to monetize their personal data.