-- As more data floods digital storehouses with people using devices more during the pandemic, companies such as CMDX are looking for innovative ways to reward people for their data
ROSEAU, Dominica (January 17, 2021)—While concerns over online privacy have been growing for years, the COVID pandemic has accelerated these concerns due to the rapid shift to doing more online, from working to school to shopping and more. With people spending more and more time online, people, businesses, and digital security firms have been looking at ways to help improve digital privacy
And as we shift to an environment where people are using a wider variety of devices, they are leaving a larger digital footprint than in years past. And their digital footprints may be larger than they realize. Information is not collected simply when we engage in online transactions, it is also captured each time we use a device such as a laptop, phone, tablet, smart TV, webcam, and more. With this in mind, the Internet Data Corporation is predicting that the amount of data to be generated globally to approach 80 zettabytes (ZB) by 2025.
With the vast amount of data being generated by web and smart device consumers, talks of privacy concerns and data ownership are escalating. An increasing number of firms are exploring how giving people ownership of their data versus corporations collecting and storing it could change the face of digital privacy. This approach to decentralized data has gained traction and is offer exciting new possibilities for how people may be able to leverage their data and earn an income by trading it for compensation.
With device usage on the rise and people spending more time at home, an increasing number of people are looking for at-home business solutions. These factors, coupled with the move to a decentralized model for personal data collected online and via devices, present exciting possibilities for Universal Basic Data Income (UBDI), an economic model that pays people for sharing their data.
UBDI allows users to monetize their data with nothing more than their smartphones. There are a few companies that are at the forefront of the UBDI revolution by rewarding users for their data. One global health brand, CMDX, rewards its community members for their health data with the company’s own cryptocurrency. Members can then invest these rewards in crypto markets, purchase health products and services, or spend and invest them in any other ways they wish. CMDX community members link their health trackers to their CMDX accounts, which allows CMDX to reward them for sharing their health data.
“CMDX’s model provides an ideal at-home business solution during any time but especially during global lockdowns,” said CMDX CEO Tom McMurrain. “Now more than ever, it’s important to keep moving for your health, and CMDX rewards its community members for their health activities with cryptocurrency that they can use any way they want. We employ a model that recognizes the importance of personal data ownership and gives people the power to monetize it to build their wealth.”
Release ID: 88999144