How Can we earn money from our data?

Several Startups are launching to help people get paid for their data via blockchain

Today Companies like Facebook, Instagram, Google, and others hold all our internet data. Do we get paid for this data that they sell for target advertising? No, they take our data because we use their free services. Do you have any idea what is the worth of your data? Let’s say that it would be enough to add some extra income for doing nothing. Today big tech companies like Google, Facebook, and others make billions out of our data.

Startups like UBDI and Permission are now trying to give back control of people’s data in their own hands. What is the role of blockchain technology in all of this? Do you know about cryptocurrencies? Cryptos are based on blockchain and that is what makes them much more secure than traditional currencies. You can transfer data anonymously with the help of blockchain. That is the role of blockchain technology in this process. To anonymize your data.

As I told you two programs are currently in beta. UDBI is a platform where you share your data with the help of digi.me, which is an app that allows you to share data anonymously. UBDI (Universal Basic Data Income) as the name suggests aims to redefine the paycheck system. Your data can really make you rich that’s what this Company believes.

You can also learn about your data on this platform and after analyzing your data they show you various earning opportunities. You can also meet people with traits similar to yours. Permission.io is another platform for earning money from your data. But their model is not yet clear. As they are still in beta and not officially launched.

But Currently, permission pays for making purchases online on their website. Subscribe to our newsletter at the bottom to stay updated on these platforms.

What is the worth of your data?

Now we know we can earn money from our data. But exactly how much can we really earn? Well, the actual worth of your data depends on how unique your data is. If your data is similar to thousands of others than you are not likely to get paid as much. But if your data is unique and cannot be substituted then it is precious. Your data can generate you a good income or in the worst case, it could provide you with some extra pocket money. But at least you will be able to control your data flow.