A unique combination of a blockchain and Secure Multiparty Computation (SMPC) makes it possible to enforce the exchange of data and payment between the provider and the requester of data without third-party involvement.
Join us in building the world's first user owned secure consumer database.
For years the data brokerage industry has been completely broken. Over $200 Billion of data is exchanged each year in an unfair and non-transparent way. In the present day, data brokers collect data on individuals around the world from a wide array of sources, both online and oline. The data is packaged into profiles, which they sell to organizations who can use them to make decisions that impact the lives of ordinary people without them ever being aware of it.
But consumers, who are actually driving the industry, do not share in the profit. Simultaneously, they experience many negative consequences as a result. Centrally managed databases allow hackers to steal large amounts of personally identifying information in just one attack, which allows for large-scale identity theft and fraud.
Recent advances in decentralized storage, digital currencies, and smart contracts enable us to create a decentralized, incentivized platform for conducting marketing research and securely storing consumer data.
Organizations will be able to use our platform to make requests for data from precisely defined populations amongst members of the Insights Network. Insights Network users, not data brokers, will benefit from selling their data.
Primarily, we are serving two types of users: those who request data, which we call requesters, and those who provide it, which we call providers.
Requesters are typically organizations, but anyone can buy INSTAR tokens and use them to submit a request for data to the Insights Network. Data Requesters want to be able to collect data that is:
They want to be able to gather data from specific populations, for example, only those between the ages of 20 to 35.
The data that is collected is free from fraud. That is, the data is collected from targeted providers who have provided their data honestly. For example, requesters expect their surveys to be answered truthfully by their target demographic, and not say, a bot.
Requesters should be able to get answers to their questions quickly without worrying about the details of how to reach their target demographic. By using smart contracts, which execute transactions between anonymous parties, users will be able to sell their data without disclosing their identity, only broad demographic information.
Providers are users who comply with a data request by providing data; the ones who fit a data requesters’ target demographic are compensated for their data in INSTAR tokens. Data Providers want assurance of the following:
Their data is not collected without their explicit permission.
Sensitive information, such as who they are, is not provided, only broad demographic details.
They are paid for the data they provide.
Their data is handled securely. Traditional marketing research firms collect data over a fixed period of time and provide a single report to their clients. On our platform, requesters would never have to close their request for data.
Insights Network core contributors are located around the globe and include experienced entrepreneurs, researchers, software engineers, data scientists, and marketers.
