Blockchain Revolution

ICROMONETIZING
DATA.
Parents who work in the home and family caregivers of
all kinds who labor tirelessly over young children and aging parents can at last
monetize their efforts and be recognized for the value they deliver every hour of the

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day. This is not a developed-world opportunity exclusively. Big companies are
looking for ways to market to people in the global South but often lack the right data
to make business decisions. Contracting and licensing personal data could be a great
opportunity to add a new revenue stream for a young entrepreneur while he is
launching his new blockchain IPO. Today, huge digital conglomerates like Facebook
and Google harvest petabytes of data about billions of people. We enter into a
Faustian bargain where we give up data in exchange for cool services, but we lose
privacy and data integrity in the process. Blockchain turns consumers into prosumers.
Nike might like to know what you ate for breakfast, how often you go for a run, and
whether you are thinking of buying new workout gear. Why not contract that data in
exchange for Nike points or real money? Let’s go one step further: Insurance
companies are searching for the best data to make actuarial calculations. Your own
data—how much you exercise, if you smoke, what you eat—are very valuable to
them. Enter into a licensing agreement where every time they use your data to make
an actuarial calculation and price a new product, you get a micropayment.
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