Monetization of Private Data Using Blockchain Ensuring Control and Ownership of the User Data

Abstract

In the digital era, data is one of the most valuable assets and is worth more than any other commodity that exists, Data is an essential resource that powers the information economy, and the data with such value is being siphoned from the users without their knowledge and is being sold in data markets. We are providing a way to give power and control to users by which they can sell and have control over their data. We are developing A web extension that collects users DNS propagation data for each site they visit and streams it to the data unions in real-time in exchange for cryptocurrencies like data coins, Ether, bitcoin, etc., without compromising the user’s real identity leveraging the block chain, Ethereum framework, and Streamr data marketplace. The DNS propagation data is different for each ISP as they hold different SRV records, A data map of interlinked DNS propagation data could be used by data analytics companies for a lot of reasons.