The vision of the Liberdy Data Foundation is set to revolutionise the permission-based advertising, rewarding users for their data use. It’s pretty obvious to everybody that Facebook and Google are the leaders in the advertising economy but also the only ones who actually get to pull all the strings.
Frustrations? Too many!
Not only do they get to use my (and your) private data for advertising purposes, they also make money off of it. Last week I was talking to someone about starting to exercise or go running, next thing I know, Facebook and Instagram flood my feed with ads for body exercising and losing weight apps and solutions! And I did not even write a text on it. Yeah, your phone is listening to your conversations for keywords, like “diet”, “exercise”, “cryptocurrency”, “new car” and so on. Why else do you think they know “oh, so well” what I need? Yes, I am very frustrated with my privacy being invaded and huge corporations making money off knowing what I am dealing with or am interested in. That’s what they sell: relevant marketing information. They know what you and I want, and it’s enough for them to make a fortune out of it without us even being aware.
Thank goodness for GDPR!
Starting with May 25th 2018, the marvellous European Union enacted a new privacy bill, GDPR. It’s a new set of regulations that require from the service provider (Facebook or any other site you visit) to offer the user the rightful ownership over his/her own data (hence the user must give his/her consent for data usage, and one can opt out of particular data collection) and the data must be available for extraction in an electronic format. Also, you can choose to have all the data that’s been collected about you deleted. About time!
So what’s the deal with Liberdy?
It was actually designed for the situations we encounter after the introduction of the GDPR regulations, and they leverage the advantages of users when they agree to share data with potential advertisers. The transparency of the blockchain tech kicks in and Liberdy finally disrupts the industry of digital advertising in favour of the common user.
The Liberdy Data Foundation is what this concept stands on, and the LIB Utility Token comes into power it – to turn it out of an idea into a stable and effective platform. What it actually does as a decentralised storage platform is to manage the rights of the users by extraction, verification and upload of their data, anonymised. Hence every user’s privacy is protected, but they also have something to gain.
The LIB Utility Token comes into the picture
It powers the brand-new ad-tech ecosystem while coming with a brand new layer to the beautiful digital advertising glove: reliable data, privacy protection and a rewards process. Users earn LIB for sharing anonymised data that are used for advertising. The Liberdy Data Foundation has the right to commercialise the user’s profile while the latter still has full control over how and by whom it is used. Advertisers, on the other hand, buy data access from the Data Foundation with LIB Tokens. There are solutions for publishers also!
Do please head over to their official site at https://liberdy.io/ for more information and make sure you are well informed because it’s happening and you no longer need to be kept in the dark while your personal data is being used!