Streamr
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Streamr

How to Crowdsell Your Information Through a Data Union

The opening of the RadicalxChange Conference in Detroit in late March
Data Union activists Paul Tang, MEP (left) and James Felton Keith (right). Photo courtesy of RadicalxChange
  1. People need to be able to transfer ownership of their data to someone else. If, for example, you own your house but couldn’t ever transfer the title to anyone else, then the notion of ‘ownership’ becomes more than a little meaningless.
  2. That asset needs to be discoverable. To use the house example again, if no one could ever know your house was for sale, then again, ownership loses its power. That’s exactly what marketplaces are for. But in the case of individually generated data, there’s a twist. This type of data is only really valuable in aggregate form. So individuals need to be able to bundle/unionise/aggregate that data so they can sell it as a crowd. They need their data to be discoverable en masse.
  3. Data owners also need to get paid for their data. This turns out to be the last and perhaps the most technologically complex piece of the puzzle because if your data is only worth 20 cents, the regular fiat banking system isn’t going help solve this problem. And that’s where micro-payments facilitated by cryptocurrencies come in.
Weilei Yu, Head of DevRel, manning Streamr’s stall at RadicalxChange
Streamr Core Editor Showing Spotify Data Union
A mock-up of a Community Product view.

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Shiv Malik

CEO of Pool instigating Data Unions. Author. Broadcaster. Former investigative journalist. Passionate about economics, decentralization & mutualism.