AIRBLOC - Road to a legit data marketplace

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AIRBLOC aims to create a healthy big data marketplace and give users a chance to make some money from their own data

The big data industry has been witnessing the most prosperous period since it was born. The global revenue reached $130.1 billion in 2016, and it is expected to surpass $200 billion in 2020 with annual growth rate of 11.7% (Forbes.com). Banking is deemed to be the industry which invests the biggest amount of capital in big data and business analysis solutions ($17 billion in 2016).

Big data seems to be a very sensitive industry, and at this time, users and companies are having numerous problems with trading and using it. It is hard to forget about the Facebook scandal which took place at the beginning of this year, when it was discovered that the  confidential data of 87 million users leaked out and was used by Cambridge Analytica for political purposes. The case was so serious that Mark Zuckerberg - the CEO of iconic social media company - was asked to testify before Congress. And even many questioned went unanswered, the crisis raised deep concerns among its users and U.S government about privacy and transparency in exchanging data. Commercialization of big data for sure has many advantages but at the same time may pose a real threat to matters of legitimacy. Lack of interaction between users and service providers can also backfire later on.

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Source: 5wpr.com

What problems  AIRBLOC resolves?   

AIRBLOC targets at building a transparent framework for big data marketplace and creating an opportunity  for users to make some money monetization by selling their own information. AIRBLOC aims at solving problems of three types of market participants:

1. Users

At present, users are those who suffer the most in this industry, but how come? They are the main source of data, but the sad truth is that they no longer can exercise control over their own data, once it has got into server provider’s hands. These companies arbitrarily sells data on the market, needless to say,  without any prior consent or knowledge of the users.. And of course, users have no chance to make a profit that could result from sharing their own information. Besides, users reluctantly receive irrelevant and annoying advertisement on social media like Facebook, Twitter,etc. For example, or when the users are looking for something on Facebook and Google, later they have to deal with a ton of spam about the they they was looking for.  

2. Service providers

This term refers to companies that supply both online and offline services such as social media, credit activity, tourism, mobile apps,etc. Usually, these businesses collect and sell data to brokers without approval of users, this may violate the data protection rules and end up with the negative public reaction The fact that, there are no clear regulations on legitimacy and fair competitive market for big data may be one of the main reasons why service provides feel free to misuse our data.

3. Data consumers

Nowadays, the enterprises that use customers data as a means for running advertising and marketing campaigns, the quality of the data source is far more important than the number of it. These enterprises (especially small and medium ones) lack in ability to access a set of data with specific and detailed uses. For instance, a company wants to advertise a Japanese language course to customers, aged 18-25 years, who plans to study or work in Japan someday and whose income is limited . These kinds of information is extremely difficult to collect because they come from numerous and diverse sources. This may cause the inefficiency in enterprises’ marketing operations.

One more thing, customers data is  essential for business decision making, for example, a bank wants to provide a loan, it needs to know the credibility of the borrower. Possession of data like phone number, insurance number, email, history of activities on social media will be helpful for assessing the customer’s credit risk. But this sort of data is easy to be duplicated or counterfeited, even though the enterprises paid huge amount of money for it.

Solutions of AIRBLOC

By using the applications of blockchain technology, AIRBLOC’s goal is to solve all the above-mentioned issues. Users, service providers and data consumers will gain significant benefits when using products of AIRBLOC.

  • AIRBLOC builds a data supply chain on the basis of blockchain technology, allows users to track their own data, namely who use it  and for what purposes. Besides, by using smart contract, users will receive a part of revenue from a company which sells their data. Users also have full control of their personal information, they can choose what kind of advertisement they want to see, and cease to allow companies to use their data.
  • AIRBLOC creates a real data marketplace  for service providers. They can display the data and information they want to sell. AIRBLOC has created DAuth - a protocol which requires users approval when companies sell and buy data on behalf of the users. DAuth generates the transparency and legitimacy for the data marketplace .
  • AIRBLOC will verify the origins and authenticity of the data, guaranteeing a trustworthy and high-quality data source for companies. AIRBLOC promotes the idea of non-discrimination between small and big enterprises, everyone has same opportunity to access the same source of data.

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Legal framework is a big matter of big data industry. Source: npr.org

AIRBLOC TOKEN: ABL and AIR

AIRBLOC allows users to possess two kinds of tokens:

  • AIRBLOC (ABL): ABL can be traded on exchanges. You can also  convert from AIR into it. ABL is used as means of payment for purchasing or verifying data and running Data Campaigns (asking directly users to collect specific set of information).
  • AIRBLOC Reward (AIR): Users will be rewarded by AIR for providing data or contributing to the process of justifying data. AIR is non-transferable and ABL cannot be converted into AIR, but AIR can be converted into ABL with the ratio of 1:1.

AIRBLOC MILESTONE

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Source: Airbloc Whitepaper

AIRBLOC TEAM

AIRBLOC has been founded by a very young team (currently there are 25 members), their little experience in blockchain and software industry may become a problem:

  • Sungpil Nam: Co-founder and CEO of the parent enterprise ab180 and leader of AIRBLOC protocol. Nevertheless, Sungpil has modest experience in web and mobile applications developing, he worked as a CSO of a small start-up company for a year.
  • Wonkyung Lyu: Co-founder and leader of dev team, Wonkyung is a young software developer, he worked a few years for  medium technology company in Korea.
  • Naeun Kim: Co-founder and UX designer (user experience), Naeun has 6 years of experience as designer and publisher for Movie Magazine (Korea), 2 years working in Naver Corp – a TNC operating in online advertising, mobile messenger platform.

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Source: icobench.com

ICO information

  1. Token: AIRBLOC (ABL)
  2. Total supply: 400,000,000 tokens
  3. Token price: 1 ABL = 0.0001 ETH
  4. Soft cap: 7,000 ETHs
  5. Hard cap: 20,000 ETHs
  6. ICO from 19/06/2018 – 29/06/2018 (hard cap was reached)

Token distribution

221,450,000 ABL tokens  out of 400,000,000) will be distributed to investors in private sale, presale and public sale. Invested ETHs will be used for following purposes:

  • Recruiting developers and maintaining platform development: 50%
  • Marketing platform: 20%
  • Network Operation and Maintenance: 10%
  • Creating ecosystem for the platform: 10%
  • Emergency Fund: 10%

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How Airbloc use the capital. Source: Airbloc.org

Written by nami.today

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