Conflicted about the tradeoff of convenience for data that comes with the Internet of Things? W3bstream aims to solve that.
Network — a project that is working to merge blockchain technology with the IoT — has recently announced the rollout of a new product called W3bstream. W3bstream is a chain-agnostic system that has been developed to disrupt the monopoly that has been formed around user data and smart devices.
Beyond just protecting the end user, W3bstream will give users the option to profit from their own data, reshaping the current state of the industry. The key to being able to do this is the platform’s decentralized approach, which takes the ownership possibilities opened up by blockchain technology and applies it to the full spectrum of the IoT.
The way this works is through data pools to which participants can contribute without having to reveal their names or any other information they wish to remain private. In the health sector, this could greatly advance research efforts without participants having to cede unnecessary personal information to third parties that may use the information to profit.
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