There is yet another development in the data monetization arena. As most of us know, companies like Google, YouTube and Facebook make a lot of money by selling user data. Data is the building block of the digital economy and those who don’t monetize this information, end up losing big time. HUDI or Human Data Income is a company which wants to change this fact. Its driving idea is to make users of information the primary beneficiaries. What is this market currently worth? $3 billion dollars.
The founder of HUDI, Gianluigi Ballarani, talked about the long road to develop this platform. His own career was made in the marketing sector, and he realized that data monetization sector would undergo a huge shift. With a rising interest in the crypto industry, many people found themselves unable to make inroads because of soaring prices and a lack of entry on ramps. By combining these two, he was able to offer a new platform which brings data monetization opportunities to the web3 sphere.
Ballarani is firmly convinced that helping people to take control of their own information will help them to get into the crypto arena easily. This is possible as people use their own data to make money and harness the power of the crypto industry.
Thanks to efforts in legislation like the GDPR, users can regain control of all the information collected by different platforms. Users can then use the HUDI wallet to upload data to the platform which acts as the custodian for information. This information is something they would usually not have easy access to. With information in one place, each user can earn rewards in the form of HUDI tokens. Users have the choice and power to choose which platforms they want to sell personal information to.