Large companies operating in the Web2 space continue to collect user data to increase their profits, but they do not share most of this value with the users who provide the data. However, with the advent of Web3 technologies, the necessary infrastructure has arrived to give control back to the people. Through a new Web3 technology created by Itheum, users can own, trade and be rewarded for their data as it transforms into a new high-value asset class powering the future data economy.
Through Itheum, business enterprises and end users can enjoy various advantages. Platform integrators, which are third-party companies or projects, can use the infrastructure provided by Itheum to create data-backed loyalty cards, identity and reputation-carrying data passports, and other behavioral data aggregation tools such as non-fungible tokens (NFTs) data streams, which can be used to collect and store data about a user’s behavior.
On the other hand, market traders such as companies, advertisers, and users can mint and list their data stream NFTs. The ultimate model of the platform will enable NFT data trading in a decentralized and permissionless way, leveraging the best features of NFT technology to license, prove ownership and be rewarded with ongoing royalties for your data.
The Cointelegraph Accelerator Program was launched in 2023 to help promising early-stage Web3 projects and contribute to their growth. Itheum was chosen to be part of the program for its innovative approach to data ownership, combined with its strong technical foundation and vision for a decentralized data brokerage platform.
Cointelegraph’s vast global audience will provide a strong foundation for Itheum to spread its message and fuel its growth. The partnership will help Itheum broaden its reach and more effectively convey its mission of returning data ownership to users through its innovative data brokerage technology and blockchain-based tools.
Leveraging Cointelegraph’s global audience and participation in its Accelerator Program, Itheum aims to spread its message and mission to the masses, returning data ownership to users through its Web3 data brokering platform.
The Itheum Web3 data infrastructure empowers users to take control of their data thanks to its flagship data tokenization technology and peer-to-peer multi-chain data protocol. In addition, the project’s technology enables users to prove the provenance and lineage of their personal data, key elements that enhance individual data ownership. With this collaboration, both ecosystems are striving to create a more democratized and equitable data landscape where everyone around the world can benefit from the value of their personal data.
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