A person’s data can be used simultaneously by many firms, that is, data is nonrival. Nonrivalry data used broadly across firms, leads to social and financial gains to the consumers and deliver increasing profitability to firms that are optimal.
Consumer’s data stored & financial transactions conducted on Blockchain. Blockchain data communities where decision making is by participants consensus. Everyone in the ecosystem share in common benefits. Decentralization governing principle driven by delivering benefits to participants.
Apple has earned US $42.8 billion by sharing the consumer data, (Frier, 2018).
The data generated from an adult is worth about $35 per month.
The data brokering indust generated a whopping $150 billion in revenue (2012).
Facebook paid $39.6 for single WhatsApp’s users.
Email of a single internet user is worth $89 to big brands, (Medium).
Decades of research by economists from top Universities has concluded tremendous benefits when data is treated nonrival. This Conclusion was arrived after rigorously modeled, calculations and results analyzed in the seminal paper published in Sep 2020 titled “Nonrivalry and the Economics of Data” by Charles I. Jones and Christopher Tonetti*.
Economic Review 2020,110(9): 2819-2858
Toward building a global decentralized system
Building a consumer database -Industry 4.0 technologies
CLEANUP FOR VALUE ADDED, EDGE COMPUTING, BIG DATA, DATA SCIENCE
CENUS DATA, ZILLOW, GPS, SOCIAL MEDIA
MACHINE LEARNING & ARTIFICIAL INTELLIGENCE, DIGITAL TWIN
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