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Data — Intangible Gold All Around You

In March 2012, famous photographers Rick Smolan and Jennifer Erwitt launched a project called “ The Human Face of Big Data “ under the sponsorship of EMC, Cisco, FedEx, and other enterprises, to deconstruct human beings with data.

The project invites people around the world to share their lives in real time through a mobile app to collect participants’ views on dreams, interests, sleep, love, trust, and family. Statisticians and analysts will analyze this information to see what happened in the world each week, so as to inspire thinking about collecting, analyzing, and visualizing big data in real time. Since then, many people have begun to recognize the great power of data.

In the field of national economy, data resources mainly include: financial and economic data, social behavioral data, personal identity data, and a larger amount of Internet data generated by social computing, e-commerce, online games, e-mail, and chat tools. The commercial application of big data is particularly prominent. For example, search engines based on advertising and the accurate advertising delivery of major websites can feedback users’ behavioral habits and interests to the business to increase revenue, improve interactive experience, and then retain customers.

The value of data in business activities is obvious. Therefore, data is considered an important enterprise asset today. From the definition of assets, it is not difficult to see that assets are “formed due to past transactions or events.” In terms of data assets, its subject should be the data producer — Internet data owners. At present, the actual owners and final vested interests of most data are network service providers, but it is difficult for data producers to derive value from data.

How to confirm the right of data and return the income right of its value to the data producer himself is what GDF(Good Data Foundation) has been studying.

GDF believes that in order to realize the monetization of personal data, the first problem to be solved is data security. GDF adopts secure multi-party computation, machine learning, encryption algorithms, federated learning, and other technologies to realize data privacy protection and encryption sharing, and applies it to its blockchain platform, GoodData. Combined with blockchain and defi, GoodData promotes the full flow of data, and everyone can participate in the monetization of data. “ Intangible” gold will become real gold with the help of GoodData.

Summary of GoodData’s official account


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