March 2006, we predicted the collapse of the financial system and 2009 assisted the Icelandic government unravel what had happened by merging bank interim reports (see page 9 below the chart in the ‘Excerpts from the report of the Special Investigation Commission (SIC)’. In 2016, we predicted Brexit and Trump. Now we’re predicting a major transformation in the digital marketing space caused by blockchain technology which gives businesses and consumers greater control over own information.
Data is important but how to derive meaningful information from it even more so. What we bring to the table is the ability to secure any data from anywhere in the world without ever having to deal with downloads or adaptations; it’s simply pick and insert into your dashboard or model. We are considering taking the ICO route due to the blockchain, ledger and value-generating environments to transform the entire planet into the data source/data consumer network.
The technology to establish a true data economy has been possible to a certain degree for almost two decades. The connectivity of the smartphone and the smart contracts and ledgers of the blockchain make it possible to establish an entirely new environment that connects businesses and target audiences in a very different way.
Digital giants use personal information today to funnel billions into their own accounts without their users seeing a cent of it. That is their monetization strategy and removing it shuts off their capital inflow. Over half a billion individuals use ad blockers across 615 million devices worldwide by the end of 2016. Desktop ad blocker usage grew 17% year-on-year to 236 million. We are issuing 500,000 tokens to enable that half billion to regain control over their own, personal information.
Increased use of ad blockers sends a clear message that online users do not wish to receive the content businesses are spending considerable amounts of money on. That arms race is causing greater expenditure as users continue to upgrade their defenses (and regulators in some instances impose regulations that escalates this situation). The increased use of ad blockers and pressure on authorities to limit how businesses can approach their audiences drives costs up and conversion rate down. AI will not solve that problem, at least not as it is currently being deployed in the marketing space.
Establishing an environment where individuals can claim ownership of their own information and trade removes the need to burn funds in the attempt of overcoming customer resistance and regulative action. Businesses are at war with the customers and we propose the two work together as the result will lower expenses on both sides and reduce regulative action.
We perceive the blockchain environment suitable for three reasons:
- Buying and selling data is handled by a smart contract which covers:
- Sales and purchase of data.
- Sales and purchase of models.
- Sales and purchase of elements (e.g. visuals, algorithms, AI)
- Complete tracking of buy/sell sides and use/modification (only available to data source) of data.
- Ability to trade using – or peg against – any fiat or cryptocurrency to reduce currency risk.
There are still a few hurdles in the way of executing this and we welcome experts in the blockchain/ICO, taxation/regulatory, VC/traditional finance, and analytics and reporting that want to participate in realizing this environment.