Iteum: Web3 Platform Remarkable Data Ownership Transformation

Enterprise data control

Every day billions of users unknowingly expose their personal data when they access online products and services. People typically fill in personal information when signing up for apps, using websites, participating in social networks, making online purchases, and using technology devices provided by commercial profit-seeking organizations. These organizations collect users’ personal information, lock it in a data warehouse, and use it to create products and services that meet users’ needs. The goal is to keep users coming back to the platform and sharing more data.

Not stopping there, these commercial organizations also sell user data to brokers who make billions of dollars in profits simply by collecting and trading data in the “black markets”. As personal data is circulating in the market, advertising companies are already “targeting their prey” and thereby promoting strategies to influence consumer behavior and even manipulate thoughts. their.

How Iteum gives ownership of data to individuals

Iteum is on a mission to change the current negative data exchange and collection model by leveling the playing field, requiring consent to access personal data sources. The goal is for both organizations and their customers (data owners) to equally benefit from the exchange and trading of personal data in the marketplace.

Iteum has built a suite of data collection and analysis tools for companies that need rich, seamless, and structured data sources. The toolkit also exposes trends and visual patterns to data using user-protected anonymous analytics.

Iteum also features a free and open market decentralized data exchange and trading (Data DEX) that allows users to own and trade their personal information collected by organizations through a suite of public utilities. Iteum’s instrument. Iteum unlocks users’ personal data from these institutions’ archives and creates new value-sharing models. This data can then be traded on open markets.

How is Iteum paving the way for organizational transparency?

Iteum ensures that all data collected by online businesses can be tracked and accounted for. Since Iteum’s platform is built on a public blockchain, all transactions are recorded using smart contracts and can be viewed and verified by anyone. As a result, projects using this toolkit can be assured of the transparency of the data they have collected.

Data holders can use Iteum Data DEX to exchange their data through direct peer-to-peer trading. Data owners can also cooperate with decentralized organizations supported by DAOs (Decentralized Autonomous Organizations) and transact data on their behalf.

In addition, Iteum’s Data DEX allows users to secure sensitive personal data in a secure data vault using a separate encryption scheme for each person. Moreover, they are fully cross-chain compatible, working efficiently on all blockchains.

Iteum’s active role in data privacy week

Iteum’s mission has always been a priority during the data security week from January 24 to 28. This is an annual event that aims to raise awareness about the importance of protecting personal data, empower and remind individuals of the importance of user information, and encourage businesses to respect this privacy.

Iteum is at the forefront of the campaign in favor of protecting user data. The project team is also driving conversations and constantly improving the toolset to keep data safe and maintain privacy in this digital society.

Conclude

By enabling the collection and exchange of valuable personal data sets within Web3, Iteum promises to bring practical convenience to organizations seeking data collection, results-driven, and ownership. Real data ownership goes hand in hand with fair value to data owners.

About Iteum

Iteum provides a set of tools that allow high-value data to be bridged from Web2 to Web3 and then transacted peer-to-peer without any centralized intermediary. This will help users keep their data safe and secure, and easily join the Web3 and Metaverse data economy.

Learn more about the project: Twitter | Telegram | Website | Discord

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