June 11, 2018 - The recent situation with Facebook and Cambridge Analytica reinforced that consumers are largely in the dark regarding data that’s being collected on them, how it’s being used, and who it’s being shared with or sold to. It served as a wake-up call to the industry that consumers deserve a much higher degree of control and protection over their data, as well as the decision to sell their data and be incentivized accordingly.
To further this concept, Samba TV is exploring the option of using cryptocurrency as a technology solution that gives the end-user control to make decisions related to – and provide more transparency for – the collection and monetization of their data.
CRYPTOCURRENCY: PUTTING USERS IN CONTROL OF THEIR DATA
As outlined in today’s MediaPost article, Samba believes that cryptocurrency can support many facets of user-based data control. Details are still in the exploratory stages, but the main concept involves creating a wallet within Samba TV’s services and allotting tokens to consumers in exchange for using Samba’s services. These tokens could also be used by the consumer to transact their data with third parties.
Specifically for Samba TV, the exciting potential for cryptocurrency is focused on giving our users control over what data is captured by us, what that data can be used for, visibility over who wants to buy it, and incentives for the consumer to sell it.
“I think people feel surprised and shocked by how their data is being utilized in this industry. Raw data is different than targeted advertising, because it floats around the industry in ways that are not well-understood by people. I think one thing we like about the potential for cryptocurrency is to create more transparency for what data is out there about us and how it is moving across the industry.” – Ashwin Navin [pictured], Co-Founder & CEO. More...