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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 DOES THE WIBSON PLATFORM WORKS
On the Wibson platform there are different players, buyers, sellers and notaries. The buyer of data will place an order on the Wibson platform through the smart contract. A notary will also have to accept auditing the order that was placed. A notary is a middle person that audit the transaction between the buyer and seller. The data seller then views the orders and decide if the transaction is what can scale having seen the buyer’s price. In advent of seller accepting the buyer’s price seller sends data response to the public URL of buyer without sending the real data. Seller still goes ahead to monitor buyer’s response and agreement is sealed and buyer pays. Notary is also paid a commission for overseeing the transaction and the transaction is closed. All this can happen in minutes in a transparent, fair and anonymous state. One of the Notary Wibson has partnered with is the Telefonica. They will assist in confirming data on the Wibson platform, they will also arbitrate in case there is any disagreement between buyers and sellers. They will do this with all honesty and professionalism.
WHAT COULD GO WRONG
There are no fool proof in systems, there are disadvantages on the platform, because the validation of the data is done by a third party who might not be completely honest with the transactions. To fuel transactions on the platform is the Wibson token which is a digital asset that can be used to pay transactions and fee for notary entities. This digital assets can be hacked and the company lose their money. The only way is to improve security to prevent such from happening.
STATE OF dAPP
Wibson is listed on the State of the dApp home page and categorized under marketplace. State of the dApp is a platform that host and review dAPP on different blockchain like ethereum, steemit eos and POA.
CONCLUSION
This project has been designed to succeed, the Wibson companies have already started partnership with different companies that are well established in data management and improving on their platform already. Although, it is only the android platform of the dAPP that is available the company should work more to get the iOs aspect ready.
You can check more on
https://www.stateofthedapps.com/dapps/wibson
0x - Barth5