H20 on OCEAN🌊
You’ve probably heard the news—
@coinbase reportedly sells users’ data to a US agency. Alarming, as it should be.
🚨While the crypto exchange denied the allegation, it’s good to pinpoint how these platforms and other companies are using your
#data.
Most people are unaware of how much of their activities are being monitored—interactions, the products/services you frequently view, the links you click.
🧑🤝🧑🛍 Once you become part of the user base, these are all collected and linked to you to understand your behavior as a user, creating your unique digital footprint.
This is why you’ll see
@facebook posts or
@instagram reels categorized based on your interests.
📱It’s understandable that these companies would want to collect your data to protect themselves (and you) from potential fraud. Sometimes, even required by law to verify your identity. However, it should NEVER be the purpose to SELL your data without your consent.
🙅Your data is worth more than you think. Tech giants like Alphabet, Meta, Apple, and Amazon use data as the main currency of trade, which takes place in private digital marketplaces where data is sold to the highest bidder to gain access to your digital footprints.
This provides them more targeted services and advertisements.
They’ve made their fortunes and built their empires off the backs of data.
It’s time to take control of what is ours! Protect your data! Carefully read terms and conditions. Used
#Decentralized apps (dApps). There’s a place in
#web3 that allows you to monetize data if YOU choose to.
@oceanprotocol, for example, allows users to freely exchange and sell valuable data, all on-chain.
Data protocols like us H2O,
@oceanprotocol, &
@dataxfi are shaping the future of the data economy in web3 and have made it their mission to ensure that users are no longer products for monopolistic mega-corporations.
While we’re at it, let’s take a closer look at our previous report on
#data as an asset class.
👇👇https://medium.com/@H2Odata/the-datafi-economy-c9381bc62687https://twitter.com/H2O_data/status/1545376730382499841?s=20&t=YtnKoGXExtaDXRz3EvWXag