It’s a commonly known issue that we all despise, yet go along with, as there seems to be no other choice if we are to be included in modern society. We all know that companies track us, collecting our data for their own commercial use. We appear to have no control over it, and receive no real benefit for ourselves. Even though it’s our own personal data.
So What Can We Do About This Problem?
However, hope is not lost, a company by the name of Profilia aims for us to use their consent based data Dapp, this will in essence allow us to control who can access our data, as well as us being compensated for it, by use of the zero knowledge token, (ZKT). The company has a renowned ten year history in the privacy/tech legal field. They are both lawyers and entrepreneurs, experts in privacy, digital marketing, data rights and vital currencies. Profilia has already received funding for four projects in round five and six by the Cardano community Project Catalyst problem. (For which they are very thankful) All of their projects come with the aim of giving people back control over their personal data and provide people with the ability to be compensated for both their data and attention. Here’s a list of the projects they’re currently developing.
1. Control your data – privacy ledger
2. Dapp to control your data
3. Control your data (vault) via PRISM
4. NFT for customer feedback/content
You can find out more information on these projects simply by checking the section (what is Profilia doing on catalyst?) or take a visit to their website. You could even read the currently existing articles. Profila receives funding from the Cardano community for its first privacy rights project, and catalyst backing reconfirmed, profila receives additional funding from the Cardano community, available here. Their medium articles include links to the detailed proposals for those who are interested to dig deeper.
Zero Advertising Solution and Zero Knowledge Token
A crucial part of Profila’s mission to combat privacy abuse online, and is based around the privacy issues we currently face in the digital advertising world. According to analysts, the privacy problem is even more apparent in the online advertisement space (Ad-Tech industry), where the personal data of billions of internet users gets shared with, and used by numerous unknown companies. Profila is on a mission to solve this. By collaborating with the ‘big data’ institute of the Carlos III University of Madrid, Profilia is working on a privacy-preserving digital advertising solution, which will be known as ‘Zero Knowledge Advertising. (ZKA)’ This will allow anyone who uses the Profilia app to see highly personalised adverts, yet remain completely anonymous. For full details, please see the link to their proposal at the bottom of this page. This truly has the potential to revolutionise the AdTech industry, and replace third party cookies.
ZKT tokens functions as an ’incentive-based token’, with the purpose of encouraging people to:
• Learn about privacy and their own data subject rights, earning rewards in return
• Build up and maintain the most accurate profile about themselves (their own Profila)
• Share personal data with brands and get compensated for it
• Help other users stay anonymous while viewing personalized content from brands, through a practice called Zero Knowledge Advertising
Meet the Team Behind the Project.
– MICHIEL VAN ROEY, (Co-founder, Crypto-legal expert and Chief Legal Officer); Belgian, 10 years XP as EU-qualified business lawyer in international law firms, an international organization (CERN), and a multinational company (Cisco). Specialized in tech & and privacy law; author crypto-asset regulations, as displayed here.
– RAJASEKARAN YOGARAJAH (Chief Technology Officer), Swiss resident, 15 years XP as software developer and serial entrepreneur, with experience in blockchain-based business models and e-commerce platforms.
– SHAWN BOONE JENSEN, (Founder & CEO); South African; 20+ years XP in senior management role in ISP’s, SI and global Telco organizations, most recently as Head of Product and Head of Customer Pre Sales and Service MEA in Vodafone Global Enterprise (VGE).
– LUKE BRAGG, (Chief Product Officer) US citizen and Swiss resident; 20 years XP designing creative digital solutions for complex organizations (G7 organization in Russia; digital strategy lead for Akzo Nobel in the Netherlands; Director of Enterprise Architecture for Merck/MSD).
– IPEK SAHINER, (Chief Operating Officer). Swiss and Turkish citizen, Computer Engineer with 20 years XP as computer engineer and project manager in the telecom sector at Nokia, supporting local Swiss and global network operators. – MICHAEL RAVA, (Chief Marketing Officer). Swiss; high-end networker with over 30 years of business experience as entrepreneur, influencer, consultant, advisor, investor, full-stack marketer, brand and retail expert, social media visionary, keynote speaker, and digital ethic warrior.
– REMY MERCKX (Chief Growth Officer); French; 23 years XP in the Travel & Hospitality Industry, – most recently as senior vice-president global digital & marketing – for Radisson Hotel Group with a focus on digital, distribution, marketing, branding and customer first competencies.
So, What’s the Price Tag for Owning Your Own Data?
This project will require at least a budget of $25.050 USD for a 3-month development project, which will be allocated as follows:
– 12 days of a senior blockchain developer at a rate of$ 900 USD per day.
– 15 days of a web/backend developer at a cost of $300 USD per day.
– 15 days of an app developer at a cost of $300 USD per hour ..
– 7 days of project management and reporting at a cost of $750 USD. The team that the project describes in this proposal will require more funds than only the $25,000 USD asked, but will be paying for additional development themselves via their token sale proceeds.
Final Thoughts from the Team
“Today, users have no control over the collection and use of their personal data online. Companies collect data on their users and decide at their own discretion how they’ll use or misuse personal data for their benefit. Profila wants to solve this issue and bring benefits for both users and brands, making questionable tracking practices a thing of the past. By using our solution, consumers will take over control of their personal data, while brands will gain back trust of users and increase their customer lifetime value (CLV),” said Shawn Jensen, co-founder and CEO of Profila.
If you’d like to know more information or have questions/comments regarding this proposal, please click here.