Introduction: The Evolution That The Internet Has Brought To Our World
The internet today has grown really vast, more than man could have ever anticipated. Its adoption globally in recent years is of no doubt, great evidence how much the internet has impacted in man's daily lives. With the world's global internet users hitting over 4billion recently, I won't be wrong to say that the evolution the internet has brought into our world is just getting started, and with current technological advancements, this unique infrastructure can be fully harnessed to accomplish its full potential.
Recently, we've learnt to adopt modern concepts through the internet. The Internet of Value (IoV) is one amazing concept whose inception over the years have influenced the growth of major industries globally.
The Internet of Value (IoV) and Its Major SetBack
It is truly fascinating how the internet has enabled individuals and organisations exchange various forms of assets that is of great value including stocks, intellectual properties, sceintific discoveries and more though the IoV concept. However, due to recent technological advancements, this concept has been used as a tool for wrongful exploitation of users priviledges and this has led to its subjection to various form of scrutiny by major internet enthusiasts over the years.
While surfing the internet, majority of us have this impression that we are extracting valuable information and data from most websites we interact with. Although this basic fact is true, we also are ignorant of the fact that while interacting with these sites, we are generating large form of personal data which are being exploited without our consent.
John Bottega, the distinguished CDO and Chairman of the EDM Council once said:
Data is a critical asset, It enables operational understanding of business. It provides a window into risk and opportunities. But like any important assets, it must be everyone's business within a firm.
Source
John Bottega is someone who specializes in data management and he knows how much of an asset data is to man. Recent statistics has also shown that the data broker industry alone generates over $200billion in form of revenue annually. This statistics however piles more misery to us users, knowing that we the major stakeholders in this industry have been totally cut out.
The big question remains: Could there be any solution to this Data Misappropriation?
Introducing IOVO: Providing Cutting-Edge Solution To The Current Data Misappropriation
Whats is IOVO and What Solution are they Providing?
Internet of Value Omniledger (IOVO), is a blockchain-powered Directed Acyclic Graph (DAG), designed uniquely as a platform to give all round solution to this data misappropriation.
IOVO creates an ecosystem where users now have full control over their data. Users can collect, store, exchange and most importantly; monetize their valued data in a secured manner.
The amazing thing about IOVO is that it puts the users at the driver-seat in the aspect of how they want to manage their data.
The IOVO DAG is fully equipped with state-of-the-art infrastucture on which multiple decentralized apps (dApps) can run. These decentralizd apps are created to run on the IOVO network by different developers in order for users to explore based on the form of data the user choose to share.
Whether it is social, commercial, health related or otherwise, IOVO has got you covered.
How is IOVO Going to Monetize Users Data?
There is no doubt that one of the most important benefit of working with IOVO is to monetize user data, and this whole concept revolves around the users control over their data.
On the IOVO network, users interact with various decentralized apps (dApps) on which they exchange information and users possess full liberty over his/her data in such a way that any form of data he agrees to share comes at a price. With IOVO, users can trade their valued data for an agreed fee before making it accessible to the other party who pays for every activity that will be carried out with such data.
IOVO doesn't just monetize data, they democratize the data industry in such mind-boggling fashion which have never been experienced before.
IOVO Satisfies Every Party Involved
IOVO believes that every party involved in this data industry is important that is the reason their plan is set to benefit every party involved, from the users down to the data companies involved.
IOVO Benefits to the Users
Aside from full control over their data, IOVO also provide a wide range of benefits to the user.
Users get to enjoy 100 percent anonimity if they so choose on the network. IOVO also provides a perfect and transparent data security system for users data while they harness the full potentials of their data by monetizing it.
Leveraging Blockchain technology, IOVO is able to provide a special wallet for users to manage their assets.
IOVO Benefits to dApps and Application Developers
IOVO also provides wide range of benefits to application developers on the network.
Application developers, through this special platform gets unlimited access to a comprehensive global database and enjoy data security coupled with countless utilization of their applications by users who can monetize their data through this application.
IOVO Benefits to Companies and Data Analyst
IOVO, does not only create an ecosystem the users and apps developers get to enjoy all the benefits from the platform. The data companies also have their large share of benefits. IOVO has a roadmap that will see them create the largest data network in less than a decade from now. when this happens, major data companies will get to have access to this vast network and also have direct contact with users after getting his/her consent. IOVO provides a perfectly secured data storage system that have never been seen before.
IOVO Network Will Create a Vast Database
Another interesting feature the IOVO network possesses is its ability to serve as a vast database where various form of data retrieved from the different applications that run on the IOVO network are stored.
Before now, data were stored on various database depending on the category in which the stored data belongs to, but with cutting-edge technology, IOVO provides a single database which is vast enough to contain various form of data from any category.
With such technology, these is no doubt that in the nearest future, the IOVO network will possess the largest database from various fields.
Use Case
Dan is an architect who specializes in producing various form of structural designs. He earned low income with his designs because he made designs for organisations within his locality. Due to his lack of knowledge about the internet he decided to start paying to get some of his designs displayed on local magazines and newpapers hoping to get more publicity and hopefully more potential clients, but the response he was getting was not what he was expecting.
He learnt about IOVO network through a friend and decided to give a try. He posted a piece of his structural designs through a decentralised application on the network. In some weeks time he was contacted by a major international organisation who wanted to adopt his designs for their structure which was to be erected in some months time. Dan was payed heavily for his designs and in no time he became a recognised architect internationally with the help of IOVO.
Summary
The data industry is one that has served as a backbone to the internet for decades now. Billions of dollars are being generated annually from this industry to the benefit of top data companies of the world and sadly, to the detriment of the major stakeholders in this industry who generate this valuable data.
With IOVO things are about to change for the better in this vast industry and I'm confident in no time the evolution this project will bring to the internet generally will be something we've never experienced before.
IOVO Token Distribution
Roadmap
For More Information and Resources:
IOVO Official Website
IOVO Whitepaper
IOVO Telegram
IOVO Medium
IOVO Reddit
IOVO Bitcointalk Announcement Thread
Author: Pius Ima-Abasi
Bitcointalk username: mrrpiusz
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=2290998
ANN Thread:https://bitcointalk.org/index.php?topic=4509519.0
Eth Wallet Address:
0x953026bD49d2c5342B54ebCd75D86893a1F312b7
All unsourced Images were culled from the project's official website and whitepaper