The Economist famously stated that data is the new oil… And almost every blockchain company that targets the data market tries to remind you this.
Today, most businesses are guided by analysis of large amounts of data. This has turned decision making a science rather than just a work of intuition. As data is becoming essential to the operation of many businesses, many are referring to it as the new oil--they should stop doing so, especially within the blockchain sphere.
Many blockchain products are targeting the data market and, while pitching their product, many are asserting that data is the new oil. I understand that the world sees oil as a valuable resource, but what oil stands for is the complete opposite of what many blockchain companies stand for. So, blockchain companies should skip over The Economist’s words.
Take Opiria as an Example
Opiria is developing a marketplace where anyone can sell his or her personal data to any company. Such a service is at a stark contrast to oil and the oil industry. Essentially, the blockchain and decentralization movement is at such a stark contrast to oil and the oil industry.
While Opiria is allowing anyone to drive an income from his or her personal data by selling it for PDATA tokens, oil largely drives an income for an elite few.
Everyone has their own unique personal data and so can be a valuable user on Opiria's marketplace. Oil, on the other hand, is a resource owned by either governments or large corporations.
The oil industry is heavily centralized and most consumers have little to no impact on it. Opiria is empowering everyday people to take control of their personal data by being the ones who sell it and the deciders of who can buy it.
Lastly and perhaps most importantly, oil is becoming an outdated resource. Oil is certainly still valuable, but entrepreneurs are hard at work to find better alternates to it. Consequently, oil's price has taken a beating as genuine alternates are surfacing and increased research is not just making present alternates more viable, but also making it possible to push out new experimental alternates.
Blockchain technology and the companies utilizing it, like Opiria, are the future. This is one of the most important technological frontiers and the world is growing warmer to it. Companies like Opiria are offering a product that is replacing outdated infrastructure.
In conclusion, I feel blockchain projects targeting any data market need to tag themselves with something other than oil as they clearly stand above it.
Opiria Essential Links
🌐 Website: https://opiria.io/
💡 Whitepaper: https://opiria.io/static/docs/Opiria-PDATA-Whitepaper.pdf
👨 ANN Thread: https://bitcointalk.org/index.php?topic=3076122.0
💻 Telegram: https://t.me/pdatatoken
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