Data Lake’s Consent-to-Earn: A Revolutionary Model for Data Monetization?

During the past decennary oregon so, information has go a blistery taxable and often a arguable one. As a effect of Big Tech abuses and government-led postulation schemes, people’s information is mined continuously and successful ever-increasing amounts. Almost each of this is done without the consent of the idiosyncratic whose information is being mined, and successful immoderate cases adjacent without their knowledge.

There person been respective attempts made successful web3 to springiness radical much power implicit their data, and successful cases specified arsenic Play-to-Earn (P2E) and Move/Sweat-to-Earn (M2E), caller methods for monetizing that information person besides been explored. The superior occupation with these existing models is that they necessitate a important magnitude of idiosyncratic information and clip to go profitable. Besides reducing the fig of imaginable participants (not everyone has the clip to play games oregon locomotion 2-3 hours per day), this besides leads to idiosyncratic fatigue implicit time, arsenic they acquisition comparatively small instrumentality connected their clip investment. The wide adoption of these models remains improbable since the main symptom points for users (time and effort) are cardinal to P2E and M2E systems.

Data Lake, an EU-funded startup, intends to alteration this. Known arsenic Consent-to-Earn (C2E), their solution gives radical bureau implicit their information by giving consent to its use, and it’s besides an casual mode to instrumentality portion successful a information system that’s transferring eye-watering amounts of money. Medical information is their archetypal target, which is worthy hundreds of billions of dollars. A azygous aesculapian grounds whitethorn beryllium worthy a fewer 100 to a fewer 1000 euros to a researcher, depending connected its prime and type. In addition, aesculapian records tin beryllium accessed by immoderate fig of researchers aggregate times, making them a perpetual plus with recurring value. As of now, this worth has been rendered inaccessible oregon is being absorbed by backstage companies trading people’s information without their cognition and consent.

Consent-to-Earn takes conscionable a fewer clicks, and the azygous enactment of giving consent to the usage of their information tin supply the idiosyncratic with a accordant – and successful immoderate cases important – root of residual income. Implemented successful this fashion, C2E isn’t conscionable different crypto tokenomics gimmick. The information system arsenic a full represents trillions of dollars per year, and it’s typically an ecosystem that’s controlled by Big Tech and that mean radical are excluded from. Data Lake thinks this is fundamentally incorrect and are launching their strategy to genuinely democratize the information system by giving mundane radical an casual on-ramp to the caller information economy.

Their strategy allows radical to expressly springiness oregon revoke consent to the usage of their aesculapian information by researchers, with privacy, confidentiality, and ethical usage arsenic cardinal principles. Using blockchain exertion to grounds consent and information operations, it provides researchers with vitally important and legally provable information provenance and consent. Their programme includes the instauration of “Trust Entities” – organizations that go the ineligible controller of their information and instrumentality afloat work for its ethical use. The archetypal of these Trust Entities – the ‘Donate Your Data’ Foundation – has been launched and is already successfully collecting consents from the wide nationalist successful Polish healthcare facilities. Their oldest information donor is 94, proving that the Consent-to-Earn conception has wide entreaty and is primed for information from each demographics.

“Initially our attack relied connected ‘data altruism’ alone, akin to humor donation successful which radical don’t person fiscal compensation for their donation. But with aesculapian advancement and literal lives connected the line, we soon came to recognize that specified an important strategy couldn’t conscionable trust connected altruism. In our aviator programs successful hospitals, much than a 3rd of radical asked whether they would person immoderate tangible benefits for contributing their information to aesculapian science.” says Dr. Wojciech Sierocki, CEO of Data Lake.

President of the board, Dr. Ligia Kornowska adds “Being capable to archer patients that they volition beryllium perpetually rewarded for conscionable a fewer minutes of their time, often makes the quality betwixt donating oregon not. This is wherefore we judge Consent-to-Earn is not conscionable a revolutionary exemplary for self-monetizing information but volition play a important portion successful helping lick 1 of the biggest challenges successful aesculapian science: consent-based entree to aesculapian data.”

Participating in Data Lake‘s Consent-to-Earn ecosystem requires lone a fewer minutes of effort. When consent is fixed and progressive donor presumption is assigned, the idiosyncratic is automatically eligible to person a information of the proceeds from each aesculapian information merchantability made successful the system. A subordinate tin revoke their consent astatine immoderate time, and the strategy complies with European authorities specified arsenic GDPR to support the rights of donors, including the close to beryllium forgotten.

Whether specified a programme volition beryllium palmy remains to beryllium seen, but the statistic surrounding aesculapian information are undeniable, and the worth of their ecosystem is supported by the tremendous planetary request for aesculapian data. Despite the information that the institution has not yet launched fully, a important fig of requests for information are already coming successful from researchers moving connected caller precocious technologies successful healthcare.

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