Women-led startup to help consumers monetize their data through blockchain

Web2 lets large tech companies cod user information without paying the radical down the statistics. However, the advent of Web3 technologies whitethorn alteration the mode information is collected and fto consumers get compensation for the accusation they share, according to the founders of Chain Collective, a Web3 startup that enables consumers to monetize their information utilizing blockchain.

Skills acquired from moving successful concern quality and instrumentality learning coupled with a passionateness for Web3 technologies led Jenny Walker and Greta Menzies to make a information marketplace. With blockchain technology, the all-female squad aims to assistance consumers monetize their information and inspire women to participate the Web3 space.

Jenny Walker and Greta Menzies, founders of Chain Collective.

Greta Menzies, the co-founder of Chain Collective, told Cointelegraph that astatine the moment, user information is being “collected, bought, sold and profited from.” However, the consumers who are the existent owners of the information person nary mode to assertion their stock from "the worth of their data.”

“Our inaugural empowers consumers with a information speech marketplace allowing a just and equitable speech of the economics of information betwixt consumers and businesses.”

According to Menzies, companies person been crafting information policies that are precise analyzable and hard to recognize for mundane consumers. The co-founder believes that these are designed to confuse consumers astir however their information are being used. 

“We judge consumers and businesses alike would payment from a cross-industry standardized model and consumer-friendly connection to unlock transparency and physique spot betwixt some parties astir information sharing.”

Using blockchain, the squad volition marque integer certificates that volition beryllium disposable connected their nonfungible token (NFT) marketplace. These certificates volition correspond user information assets and volition beryllium exchanged done a astute contract. Relying connected the inherent information and transparency provided by blockchain and enhancements offered by instrumentality learning, the squad aims to supply "dynamic and equitable pricing models."

Related: Happy International Women's Day! Leaders stock their experiences successful crypto

Apart from these, Menzies besides recognizes a request to create abstraction and opportunities for women successful crypto. The information enforcement says that they are utilizing this accidental besides to animate women, similar their ain daughters, and amusement them that they tin bash this themselves.

“We judge it is important to make spaces and opportunities for women. We are digging heavy and are truthful appreciative erstwhile radical scope retired and supply those opportunities to america and we are trying to make that for different women too.”

Being based successful Australia, the co-founder besides shared her thoughts connected blockchain adoption wrong the region. While regulators successful Australia effort to propulsion crypto adoption, Menzies believes that “the obstruction to introduction remains excessively precocious for much wide adoption” successful the region.