The Internet is a fundamentally decentralized system that links billions of inter-connected devices to improve communication, access to information, and economic possibilities for billions of people across the globe. Yet despite its distributed nature, giant technology companies have cleverly used the underlying technical protocols to build layers of proprietary applications that capture and control massive amounts of personal data. In today’s economy, data equals money.
Wibson is seeking to create a blockchain-based, decentralized data marketplace that provides the infrastructure for individuals to securely and anonymously sell personal information that is validated for accuracy.
Wibson is built upon a set of core principles: transparency, anonymity, fairness, censorship-resistant, and the individual’s ultimate control over the use of their personal information. In the Wibson marketplace, citizens, for the first time, will be able to participate in an efficiently functioning, decentralized data marketplace that provides both financial incentives and control over their personal information, all without sacrificing privacy.
Data Marketplace Provides:
- Infrastructure where sellers offer their personal information in exchange for something of value from buyers.
- Data evaluation and valuation mechanisms.
- Incentives for all market participants to act honestly.
- Incentives for all participants to ensure data quality, including an enforcement mechanism to guard against low-quality data.
Data Seller dApp:
With this decentralized app, the Data Seller may perform any of the following on chain operations:
- Listen to new Data Orders placed on the blockchain
- Receive payment for the sold data.
- Check if a Data Response was approved, i.e. selected to be bought.
- Accept Data Orders with a new signed Data Response.
- Keep track of the token balance in the wallet.
Wibson Components.
Seller Decentralized and Auditable Data Storage. The market provides a decentralized and auditable storage system, where private data is stored on the client side, and the blockchain provides references to the data, but not the data themselves.
Off-chain: Each Seller hosts its own data, encrypted, on their own devices (mobile phone or computer). Data transfers from Sellers to Buyers are performed off-chain.
On-chain: The blockchain stores hashes of the Sellers’ Data, which serve as references to the Data. The unencrypted data can be required by the Notary in case of an audit.
Automated Payment Processor.
The Wibson Protocol provides an irrevocable connection process of payment for and transfer of data where the blockchain’s smart contract is clearly the executor. Thus first with the Notary installed to checkmate foul play in the area of data authenticity, the automated payment processor takes and effects the transaction without allowing room for a defaulting party. That way trust is built.
Assuming that there is a need for halting the transaction possibly due to dispute in information, the Notary can interrupt a payment transaction.
Wibson Token.
WIB is the acronym of Wibson Token, it will be the standard cryptocurrency used for making payments for services rendered on WIB network, and after Initial Coin Offering no WIB token will ever be created, minted or mined. WIB will fuel the development of the network and also provide fast, secure, transparent, efficient transactions on the network. WIB token offers the possibility of selling or buying of stored data while enforcing the use of data rules as set by the owner of the data. This utility token on Ethereum smart contract will help facilitate data exchange on Wibson network and also provide a great amount of data value on the network. Holders possess certain privileges which include: registration as the storage nodes (this simply means paid fees for storing data or transmitting data) and participation in the data market. Tokens derived from these activities mentioned above will be burned, this will, in turn, reduce the amount of WIB in circulation and it will also help increase the market value of WIB due to token scarcity. The WIB token will help facilitate compensation of data sources and storage nodes and enable a new era of secure and decentralized data storage and exchange.
Token Distribution.
Company: 20%
Purchasers: 40%
Market Participants: 40%
The Team
Conclusion.
Wibson marketplace will gain the individual trust and business confidence needed to develop a vibrant data marketplace, that represents a fundamental change in the way marketers collect and use personal information as well as their creation of profiles of individuals. Wibson will provide marketers access to data types and individual characteristics that were, for many marketers, previously unavailable, even if they were working through the biggest advertising platforms.
For more information, please kindly visit those links below:
Website: https://wibson.org
App download: https://play.google.com/store/apps/details?id=org.wibson.wallet
Twitter: https://twitter.com/WibsonOrg
Reddit: https://www.reddit/r/wibson
Facebook : https://www.facebook.com/WibsonOrg/
LinkedIn: https://www.linkedin.com/company/wibson/
Author Details:
BountyOx Name: Tesmo