Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: foxinthebox on November 04, 2021, 05:11:41 PM
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A few short years ago, the Economist made a rather bold statement – that the world’s most valuable resource is data, not oil. At the time, few realized how true this statement was, but Google, Amazon, Microsoft, Apple, and Oracle have clearly known about the tremendous value of data for decades.
In the last 20 years, these companies have been working in the shadows to collect, harness, and control the near-limitless power of data. Today, they dominate the global digital advertising market, which is expected to reach $179.77 billion in value by the end of 2021. But it’s not just about advertising – nearly every single industry in the world depends on the information technology systems these companies provide.
Gone are the days when sheiks and oil barons wielded the greatest influence and economic might. Now, a shortlist of tech entrepreneurs and “data barons” – like Jeff Bezos, Sergey Brin, Larry Page, Mark Zuckerberg, and Elon Musk – have become the most powerful and influential people in the world.
But will their reign last forever?
Finis Conner is no stranger to the world of data. He’s seen disk drives grow from the initial 5-megabyte hard drive he brought to market in 1980 to the 20-terabyte drives that businesses require today. From Conner’s 10,000-foot view of the data landscape, a sea change is on the verge of disrupting the entire data economy. But this time, the trend doesn’t center around the “data barons.” Instead, it has everything to do with the rising power of ordinary people to recover and monetize the value of the data that’s rightfully theirs.
Signs That Data Really Is More Valuable Than Oil
It’s no coincidence that the most valuable companies in the world – except for Saudi Arabian Oil Company (#3) – are the technology firms that own the most data. It’s no coincidence that Apple (#1), Microsoft (#2), Alphabet/Google (#4), Amazon (#5), Tesla (#6), and Facebook (#7) are aggressively acquiring, analyzing, leveraging, and selling the data they collect from billions of global users.
Like oil barons seeking to grow their petroleum reserves, these companies are continually pursuing strategies to increase their reservoirs of data. Last year, the total amount of global data reached 64 zettabytes (64 trillion gigabytes), and Seagate projects that global data will reach 175 zettabytes (175 trillion gigabytes) by 2025.
Most of this data is stored in large data centers – like the “Hive” facility where Facebook adds 4 petabytes (4,000 terabytes) of user data per day, and Google’s millions of servers that maintain an estimated 10 to 15 exabytes (10 to 15 million terabytes) of data. Even Tesla collects massive amounts of data to train sophisticated AI systems for its self-driving cars and arguably sources most of its success from data analysis.
Understanding the Value of Data
The best way to understand the value of data is to look at the billions of dollars in annual revenue that the most powerful technology companies are earning from it. Alphabet (Google’s parent company) used its Search, Gmail, Maps, Youtube, and other platforms – along with the free data from its users – to generate revenue of $65 billion in Q3 2021. About $53 billion of that revenue came from Google’s digital advertising sales, which skyrocketed by 43% during the pandemic.
Meanwhile, Facebook used its social media platforms – and the free data from its users – to generate revenue of $29 billion in Q3 2021. That means the social media giant is collecting about $40 in annual revenue from each of its 2.91 billion monthly active users. Approximately 97% of that revenue comes from digital advertising alone.
Facebook has leveraged its users and their data to corner about 16% of the $180 billion digital advertising market. Alphabet (Google) has done the same to control about 29% of that market.
To understand what’s really going on, Conner suggests, “We should look at the amount of data being created, and the revenue being generated from it. I don’t think people have considered what their data is worth and what they are contributing to this massive market. Just in terms of digital advertising, $180 billion is being made from harvesting other people’s data assets, but none of that revenue is being shared with the people and businesses that are actually creating it.”
Considering the tremendous wealth and power that these firms are gaining through our data, you might think it costs them a lot to acquire it. But in fact, they’re getting all of this data for FREE!
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So these firms are collecting people data's for nothing. I was checking CIRUS Foundation and saw they are also working on data-collection for turning them into value. That Web3.0 thing is going to be huge and CIRUS will get benefit from it for sure. I just really can't understand why people let that HUGE firms to collect their data for ADS... While Cirus offering something very special,can you explain it to me?
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So these firms are collecting people data's for nothing. I was checking CIRUS Foundation and saw they are also working on data-collection for turning them into value. That Web3.0 thing is going to be huge and CIRUS will get benefit from it for sure. I just really can't understand why people let that HUGE firms to collect their data for ADS... While Cirus offering something very special,can you explain it to me?
They are not collecting your data for nothing. Its an exchange for your needs
Technology rules the world, after all, you can't be here without data even and you will also make back money with it.
I got the point several billions of people who uses data daily are more that those who must have a deal with the oil and gas today.
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I just realize the value of data ,great article thanks for it. Also I checked CIRUS and think they are really working on new techs. Web3.0 will be here in near future and i believe CIRUS going to get benefit from it for sure. But i shocked when i realize i know little about CIRUS lol. I have to dive into it and see if it really that good.
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After that thread you started,i did a lot of research about CIRUS and saw they already have amazing developer team. That data-collecting mechanism need to change imo,as a long-term investor i always hate to give my data to ISP's,KYC's are bullsh-t to me. I hope Cirus could change it with their high-tech and Web3.0. Data-collection than turning into value is great innovation,wish good luck to team.
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Mate,CirusFoundation recently mentioned in Forbes... I didn't realize that project yet but damn it seems really good to me now. I believe once Cirus got more popularity it will effect price if market recovers itself.Currently at exact buying spot imho.
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The launch of the Cirus Platform, which provides instant participation in the Cirus ecosystem, will be very soon. It is planned as Q4 and in my opinion that will be a very good start for 2022. :)
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A platform that converts data into cryptocurrency and allows users to easily convert that value into DeFi goods or offramp into cash.After hearing this definition, I decided to congratulate the Cirus Foundation.I'm surprised how this is possible with data.
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A platform that converts data into cryptocurrency and allows users to easily convert that value into DeFi goods or offramp into cash.After hearing this definition, I decided to congratulate the Cirus Foundation.I'm surprised how this is possible with data.
I was surprised too but then i learned that Cirus is a simple yet powerful platform that converts your data into bitcoin and uses it to gain access to DeFi and other Web 3.0 revenue streams. It enables you to manage, monetize, and earn directly from your greatest digital asset by allowing you to control, monetize, and profit directly from your data.
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Good news for Cirus is slowly starting to come in. We really needed it.Have you heard crypto.com news?? It is a such a good step from Cirus.
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This was great article,but let me remind you something,oracles are necessary for data too. Oracles are bridge for real-time data to the blockchain via smart contracts. Just do research about oracle protocols and it will amaze you im pretty sure. I recently checked SupraOracles (one of the biggest oracle protocol) and saw their latest works. It really amaze me..
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hey guys, have you seen Cirus' twitter account? they have missions for each day and there are very nice rewards. Cirus started this event for Christmas. ı think you must look
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Cirus will enable users to gain real value from their data. A “Data Vault” function is also available. It allows users to define what they want to share and what they do not want to share. This ensures transparency for everyone
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For those who enjoy to understand and learn CIRUS evolution,I suggest you to check that article,CIRUS is moving forward to achieve what they deserve,2022 will be a CIRUS year imho.
Link of article : https://blockonomi.com/cirus-foundation/
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There are other projects that working on Data collecting,Itheum is going to launch Data DEX,where you could safely trade personal dataset. It sounds unique and necessary to me! Being my favorite so far!
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There are other projects that working on Data collecting,Itheum is going to launch Data DEX,where you could safely trade personal dataset. It sounds unique and necessary to me! Being my favorite so far!
I was really upset about Data Privacy than i find out Itheum! They are offering to make personal dataset's valuable things! Now,things are getting interesting with Metaverse and web3! Thanks Itheum for that!
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As we all know how important is Web3,CIRUS could grow rapidly if the hypes start! They have unique idea.
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Itheum seems interesting to me. I believe if they want to be succesful,they need to work hard and grow a lot more.
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Collecting data is not a novel concept, but creating value is. I am grateful to the CIRUS team for being my favorite thus far.
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Itheum will enable verifiable personal data to enter web3 for the 1st time in history - enabling amazing use-cases in DeFi, Gaming and Metaverse, Social Media, Insurance, Health and almost every other vertical
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In the enterprise and government space; Itheum will enable incredible cost-efficiencies by reducing the intermediaries required for inter-organisation data trade, supply chain and business verticals that need data that's guaranteed to be authentic
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Dude CIRUS is trending on Crypto.com Currently sitting at #3 and I believe they could achieve #1. Web3 projects are interesting,they are growing insane and they could have potential for being more and more. If i have more capital I would probably put it on CIRUS and never look back again.
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Many developments are being made in the field of personal data with web3. Itheum is a first in this regard. It provides an end-to-end platform for making personal data available on the Web3. I believe that firsts will always be one step ahead. Itheum is a project that I am very hopeful about.
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"As we enter the Web3 and Metaverse era; Itheum unlocks data silos and generates new value for your data
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Many of us still do not know or do not take the value of data seriously. Considering the prevalence of social media today, protecting our data has also become a problem. I heard about a project on this topic, it's called Solcial. Solcial's purpose is to leave our personal data under our control over web3. It's actually a great idea and I'd love for you to do some research on it.
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CIRUS seems promising with their idea but I believe the main reason why people like CIRUS is their awesome developer team. I believe Web3 will lead market soon and CIRUS will be the biggest player on it!
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I believe that value of data will be realized by investor soon and people will turn to the opposite way. Major firms collecting personal data without permission and I think that's disgusting. If Itheum could change it,they will be huge! I appreciate Itheum for being useful for humanity.
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Before that thread,I didn't realize major firms use data for personal ADS.. I hope Itheum could solve that issue,data privacy is the most normal rights for human-beings. They can't take our data without permission...
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Thanks to projects like solcial, it is much easier to grasp the importance of data. we really need to learn what we can do with our data and what has been done in the hands of others. For these reasons, I recommend you take a look at the Solcial project.
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I see there are a lot of comments about Itheum. After a quick research, I believe they could have potential for being huge. Data privacy is the most important key factor on web tbh. That's why we need web3 projects!
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Data is well on its way to being the asset of the future. Projects like CIRUS are trying to turn that data to assets that you could get opportunity to make some valuable things. It's always great to see Web3 projects are well improving quickly, I believe after market recovery, they will be a lot better.
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I read all of comments and saw there are only 2 projects that working on data privacy.. I believe Itheum is looking more promising than other ones. I know Web3 will be the future of internet and users could control their valuable data and gettin' opportunity from that. Always dyor before investment but I believe Itheum has a potential for future.
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Personal data has unquestionably become a valuable asset during the last few decades. And itheum has been aware of this for some time and has to work diligently to correct it.
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I did some research and came across itheum. Itheum will help you discover the value of the Metaverse by introducing data ownership to it! This project provided much-needed relief for me.
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Even doing a little research on the Solcial project will be enough to appreciate its value. Personal data is really very valuable, especially in this period when everything has been moved to digital, it has become even more important.
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I did some research and came across itheum. Itheum will help you discover the value of the Metaverse by introducing data ownership to it! This project provided much-needed relief for me.
Itheum is the very potent data platform tbh. Fintech's are raising rapidly and I believe Itheum-like projects are going to be a lot bigger than we expected. The data privacy is the important subject!
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Cirus to announced that 10,000 people worldwide have downloaded Cirus to take control of their data and enter Web3! this is perfect isnt it
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I did some research and came across itheum. Itheum will help you discover the value of the Metaverse by introducing data ownership to it! This project provided much-needed relief for me.
Before Itheum,Elrond is also very potent ecosystem, Itheum's web3 tech is good enough to follow them but I believe first of all investors need to realize what's "private". Data doesn't seem private for large amount of users. I hope that'll be the first thing Itheum would change.
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I believe that value of data will be realized by investor soon and people will turn to the opposite way. Major firms collecting personal data without permission and I think that's disgusting. If Itheum could change it,they will be huge! I appreciate Itheum for being useful for humanity.
Also the Itheum's token launch will be announce soon, Q1 conditions didn't effect Itheum's growth and it makes me feel like I just find the safest way to invest on Web3.
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Today I saw a diagram of who sees our data and how much they know about us. It's a little scary because almost everything about us turns into stored data for marketing. Solcial was a project that caught my attention because of this issue. hopefully this will create a great solution for this problem on web3
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I don't think many people realize the value of their data. Sometimes they act like they really care, just like with the WhatsApp thing, but it's short lived. Projects such as Itheum that share the knowledge about the importance of data and what we can do with the data and give the opportunity to use them should be recognized. I find Itheum very successful in this field.
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The Unlocking Data Series is fantastic for getting a deeper grasp of Itheum. They're not only concentrating on changing data collecting, but they're also offering to transform it into something useful! I'm hoping that web3 will make users' lives easier and safer.
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When I think of personal data, the first thing that comes to my mind is ITHEUM :) I guess many of you do, after all, it's a great project focused entirely on this subject, am I right?
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When I think of personal data, the first thing that comes to my mind is ITHEUM :) I guess many of you do, after all, it's a great project focused entirely on this subject, am I right?
you're absolutely right dude it's also great that Itheum especially makes our data available to us and we have a chance to sell it. In fact, it gives back to those who have the right, that is to us, what the social media has done right now.
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After seeing how much data I provide huge companies, I feel Itheum has the potential to alter the rules and make the internet more secure and private!
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After seeing how much data I provide huge companies, I feel Itheum has the potential to alter the rules and make the internet more secure and private!
That's the exact goal of Itheum's developer team. I believe if people realize they're not controlling their own data, Itheum could get the chance for being HUGE.
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It's really nice to see how Web3 projects are trying to solve current issues on blockchain-internet. I believe projects like CIRUS would also have an impact of our personal life with their private data product!
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Seeing such enthusiastic posts on behalf of Itheum made me very happy. A project that I believe in and support because the Itheum project
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It was the clearest data concept I've ever heard. Thanks for it. I believe, as the mentioned above , Itheum has solid project to chase their plans and there're no good way to stop them.
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Data is well on its way to being the asset of the future. Projects like CIRUS are trying to turn that data to assets that you could get opportunity to make some valuable things. It's always great to see Web3 projects are well improving quickly, I believe after market recovery, they will be a lot better.
Possibly one of the most potent Web3 projects in market. CIRUS accumulate well atm and I believe it's right time to put on it. I expect great future with Web3.
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Data is on its way to become the future's most valuable asset. Projects like CIRUS are attempting to convert that data into assets from which you may be able to create something useful. It's always encouraging to see Web3 initiatives progressing fast; I believe they'll be much better once the market recovers.
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Existing blockchain data projects are regarded as "boring" and have received little support from the public – Itheum will be the project that transforms Data Trade into something "sexy" and "fun," and as a result, propels it into the mainstream.
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Data will be the building blocks of the Metaverse, and Itheum is creating the premise for everyone everywhere to share in the significant upside potential of this untapped new economy
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the whole thread is about $Cirus. I really want to have a better understanding on project but where to start? I'm gonna start reading the whitepaper first but do you think that's enough?
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I combed through all of the comments and discovered that there are just two projects focusing on data privacy. Itheum seems to be a more viable option than the others, in my opinion. I am aware that Web3 will be the internet's future, and that consumers will be able to govern their precious data while also gaining opportunities as a result of this. Always do your research before making a financial investment, however I feel Itheum has great potential in the future.
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The Itheum crew did an excellent job with the publication of that video series. I feel Unlocking Data Series is one of the most concise definitions of the project, and it will be quite beneficial!
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I believe that investors will see the importance of data in the near future, and that individuals will begin to go in the other direction. I find it terrible that major corporations are gathering personal information without authorization. If Itheum is able to make a difference, they will be enormous! Itheum's contribution to mankind is something I respect.
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The notion of collecting data is not new, but the concept of providing value is. To the CIRUS team, I express my gratitude for being my favorite up to this point.