Data is the new oil in this digital world
You’ve probably heard a ton about data in the recent months all over the media. Companies such as Facebook actually thrive only because of the amount of data they collect from people, including you. Data has appropriately been called the new oil as a company’s success can depend entirely on the amount and precision of data they collect. But, you might wonder, if I generate such valuable data, what do I get in return? Currently, nothing only targeted ads all over your feed. Sounds unfair? Well, it kinda is, especially when some companies start selling the data to other companies who can profit from your data all over again. The collection of data is the exact reason why you might experience seeing the same ad all over the net, no matter what website or social media you open. This is because a digtial profile of you has been created which includes your interests, personal info, browsing patterns, search history and more. Most people wouldn’t want to allow others to make such a detailed profile of them if they had the choice, but unfortunately, there aren’t many services that allow an opt-out. There is, however, a project by the name of Algebraix, who is utilizing blockchain technology in order for people to regain control over their data. You will now be able to choose who gets access to your data and actually be rewarded for it, as you should.
Own your data, benefit from your data
Algebraix’s approach to the data and advertisement industry is completely different from current data collecting companies. With Algebraix, you own the data and are able to securely store it in a digital vault. Only you have the control over this vault and the data that is kept inside, you choose if anyone can see it. Besides from having control over your data, you actually also have control over whether or not you want to see advertisements. When you use Algebraix, advertisements are only shown on your device when you allow the platform to do so. In case you do allow it, you are actually rewarded for watching an advertisement suited for the data in your vault. This means that you do not only have complete control over your data and whether you watch ads or not, but you are compensated for allowing companies to advertise to you. This is a revolutionary way of conducting advertising, that obviously is preferred by the consumer, but can also be very valuable for companies. Because consumers decide themselves when they want to be advertised to, companies can build an exclusive and more meaningful relationship.
The ALX token sale
Algebraix is currently selling their ALX token, which will be used within the Algebraix ecosystem for things such as rewards and purchases. According to their website, over $40 million has already been invested in the project, so the project is quite popular amongst investors. If you want to learn more about their token sale, please visit their website here https://algebraix.io/
If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.
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