Datafunds are a new form of personal data oracle that can form or connect to data markets. Organizations (data users) are incentivised to give data back to individuals and to participate in a fair and ethical exchange of data value. Contributors to a specific datafund are rewarded with intrinsic tokens of a receiving datafund. Datafund protocol guards personal data, provides safe storage and enables ethical data exchange. Individuals create their own datafund to reclaim, own and manage their data.
One of the three pillars of Ethereum. It offers encrypted, serverless data storage and content distribution with a built-in incentivisation system. Datafund runs on the Ethereum blockchain, a decentralised platform that runs smart contracts. Habits make up almost 50% of our daily decisions (HBR) and various studies have shown that even small bits of personal data provide a detailed and comprehensive insight into an individual’s habits and lifestyle — habit formation is a marketer’s holy grail. When did you think about opening Facebook or did it just open right in front of you? Well, it didn’t happen by accident.
Humans forget, computers don’t. The talkative digital trail we are already leaving now — without being aware of it — will only be expanded, more detailed and more actionable. We lock doors but leave access to the mind wide open.