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Marriott International

marriottinternational

Welcome back to our 'Behind the Startup' series where we dive into the journeys of innovative companies reshaping industries. Today, we're revisiting Travala.com through a conversation with Juan Otero, who last joined us in May 2020. At that time, Juan forecasted a recovery in the travel sector which largely rang true. As we catch up with him today, we'll learn how Travala.com has navigated the evolving landscape of the travel industry, especially in light of the ongoing shifts towards digital and decentralized technologies. Join us as Juan shares insights on the company's growth, the integration of web3 technologies, and how these strategies are positioning Travala.com for future challenges and opportunities in the travel sector. Ishan Pandey: Welcome back, Juan; it's a pleasure to have you in our 'Behind the Startup' series. Last time we spoke in May 2020, you correctly predicted about a recovery starting in Q3, particularly for domestic travel post Covid-19, with a full recovery including international travel by Q4. As we continue our 'Behind the Startup' series, could you update us on how Travala.com has evolved since then, especially considering the ongoing shifts in the travel industry? Juan Otero: Thanks Ishan, great to be speaking with you again. So much has happened at Travala.com in the last four years as the travel industry rebounded and the web3 industry continued to swell. In that time, we’ve significantly expanded our offering through partnerships with some of the biggest names in travel, including Expedia and KAYAK. Our accommodation selection multiplied to over 2.2 million properties, and we introduced flights with 600+ airlines as well as 410,000+ activities, with a total of over 3 million travel products now available on Travala.com. Our team has also more than doubled in size to accommodate our growth, with hires across all departments from the management team to security, developers, marketing, and customer support. All of these developments have culminated in tremendous growth in customers, bookings, and revenue, with our gross revenue growing from less than $1 million in Q1 2020 to over $22 million in Q1 2024. Ishan Pandey: During our last discussion, you highlighted some pivotal adjustments made at Travala.com in response to the pandemic. Looking at the current times, how has your business model or strategy changed to align with the new dynamics of the travel industry? Juan Otero: From the rise of domestic travel to the influx of digital nomads across the globe, the pandemic has prompted the emergence of many new trends that look likely to continue well into the future. Where we once might’ve promoted a weekend away, we’re now encouraging longer, more immersive experiences through marketing, exclusive mobile-only deals on stays, and by offering an average of 16% savings on hotels after booking a flight. One of the often overlooked developments in recent years has been the rapid emergence of metasearch engines. With shifting behaviours in how savvy travellers search for, compare, and book travel, we recognised the importance of these metasearch engines—which have quickly gained market share when it comes to the discovery phase of travel—and became the first crypto-friendly online travel agency to be listed on leading metasearch engines KAYAK and Google Hotels, alongside incumbents in the travel industry. Ishan Pandey: Cryptocurrencies have seen substantial growth in value and popularity since we last talked. How is Travala.com planning to capitalise on this trend? Are there new strategies or technologies you're implementing? Juan Otero: We’ve honed our web3 strategy by partnering with projects to promote cross-community growth and leverage the power of highly engaged web3 audiences. As a result, we now have over 100 cryptocurrency payment options and frequently conduct campaigns with partners to promote the ability to travel with crypto on Travala.com. From leading web3 events like TOKEN2049 and Paris Blockchain Week to traditional brands interested in expanding their audience—such as Marriott International and the Catalan Tourist Board—we’re leveraging our position as the bridge between the world of traditional travel and the web3 space to continue underscoring our reputation as the leading crypto-native travel booking service. We’ve also introduced Bitcoin rewards for Platinum and Diamond members of the AVA Smart Program, the travel rewards program available on Travala.com in partnership with the AVA Foundation. These two membership groups can receive up to 10% back in Bitcoin on bookings made via Travala.com, which can be put towards future bookings or transferred out of the platform. Ishan Pandey: With rising competition and shifting consumer behaviors, how does Travala.com intend to differentiate itself in the travel industry? Juan Otero: As consumer behaviours continue evolving and products become increasingly tailored to the millennial and Gen Z audience that now make up the majority of the travel market, the key advantage that we have over more established players in the travel industry is our agility as a team, coupled with our innovation-first approach. We predict that crypto payments will become more commonplace as the web3 industry continues to mature, to the point where it will no longer be a point of differentiation. Other web3 elements (and how successfully they can be incorporated into the travel experience) will therefore be the main area of differentiation for Travala.com. From areas like web3-oriented loyalty programs to digital collectibles, we’re continuously exploring new ways that enhance the experience and make it more rewarding, pushing the boundaries of what travel is in today’s age. Ishan Pandey: Previously, you mentioned the impact of Bitcoin halving on your operations. Can you expand on how recent cryptocurrency events have influenced Travala.com's market dynamics and user behavior? Juan Otero: The positive market action driven by the Bitcoin halving saw the cryptocurrency reach an all-time high in mid-March earlier this year and resulted in our bookings soaring, leading to the strongest quarter in Travala.com’s history. As approximately 75% of our bookings are purchased with crypto, we experience a strong correlation between a crypto bull market and high booking volume on our platform, given the additional value available for travellers to derive from their crypto assets in dollar-value terms.
With the fourth Bitcoin halving now behind us, we expect the crypto market to continue performing well in the next 12–18 months, based on historic trends following previous Bitcoin halving events. Ishan Pandey: Finally, considering all the challenges and opportunities that have emerged, what is your long-term vision for Travala.com in this new era of travel and technology? Juan Otero: We see Travala.com as becoming a hub for crypto travellers to create genuine connections with the world, themselves, and each other. Web3 is a community movement, and our community is constantly brimming with discussions about travel tips, destinations to explore, the broader web3 space, and suggestions for Travala.com. We want Travala.com to be more than just a platform where travellers go to book their travel; in the long term, we envision Travala.com solidifying its position as the world's leading web3 travel ecosystem, where knowledge, creativity, and of course the act of travel itself is rewarded. Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Welcome back to our 'Behind the Startup' series where we dive into the journeys of innovative companies reshaping industries. Today, we're revisiting Travala.com through a conversation with Juan Otero, who last joined us in May 2020. At that time, Juan forecasted a recovery in the travel sector which largely rang true. As we catch up with him today, we'll learn how Travala.com has navigated the evolving landscape of the travel industry, especially in light of the ongoing shifts towards digital and decentralized technologies. Join us as Juan shares insights on the company's growth, the integration of web3 technologies, and how these strategies are positioning Travala.com for future challenges and opportunities in the travel sector. Ishan Pandey: Welcome back, Juan; it's a pleasure to have you in our 'Behind the Startup' series. Last time we spoke in May 2020, you correctly predicted about a recovery starting in Q3, particularly for domestic travel post Covid-19, with a full recovery including international travel by Q4. As we continue our 'Behind the Startup' series, could you update us on how Travala.com has evolved since then, especially considering the ongoing shifts in the travel industry? Ishan Pandey: Welcome back, Juan; it's a pleasure to have you in our 'Behind the Startup' series. Last time we spoke in May 2020, you correctly predicted about a recovery starting in Q3, particularly for domestic travel post Covid-19, with a full recovery including international travel by Q4. As we continue our 'Behind the Startup' series, could you update us on how Travala.com has evolved since then, especially considering the ongoing shifts in the travel industry? Ishan Pandey: Welcome back, Juan; it's a pleasure to have you in our 'Behind the Startup' series. Last time we spoke in May 2020, you correctly predicted about a recovery starting in Q3, particularly for domestic travel post Covid-19, with a full recovery including international travel by Q4. As we continue our 'Behind the Startup' series, could you update us on how Travala.com has evolved since then, especially considering the ongoing shifts in the travel industry? Travala.com Juan Otero: Thanks Ishan, great to be speaking with you again. So much has happened at Travala.com in the last four years as the travel industry rebounded and the web3 industry continued to swell. In that time, we’ve significantly expanded our offering through partnerships with some of the biggest names in travel, including Expedia and KAYAK. Juan Otero: Travala.com Our accommodation selection multiplied to over 2.2 million properties, and we introduced flights with 600+ airlines as well as 410,000+ activities, with a total of over 3 million travel products now available on Travala.com . Travala.com Our team has also more than doubled in size to accommodate our growth, with hires across all departments from the management team to security, developers, marketing, and customer support. All of these developments have culminated in tremendous growth in customers, bookings, and revenue, with our gross revenue growing from less than $1 million in Q1 2020 to over $22 million in Q1 2024. Ishan Pandey: During our last discussion, you highlighted some pivotal adjustments made at Travala.com in response to the pandemic. Looking at the current times, how has your business model or strategy changed to align with the new dynamics of the travel industry? Ishan Pandey: During our last discussion, you highlighted some pivotal adjustments made at Travala.com in response to the pandemic. Looking at the current times, how has your business model or strategy changed to align with the new dynamics of the travel industry? Ishan Pandey: During our last discussion, you highlighted some pivotal adjustments made at Travala.com in response to the pandemic. Looking at the current times, how has your business model or strategy changed to align with the new dynamics of the travel industry? Travala.com Juan Otero: From the rise of domestic travel to the influx of digital nomads across the globe, the pandemic has prompted the emergence of many new trends that look likely to continue well into the future. Where we once might’ve promoted a weekend away, we’re now encouraging longer, more immersive experiences through marketing, exclusive mobile-only deals on stays, and by offering an average of 16% savings on hotels after booking a flight. Juan Otero: One of the often overlooked developments in recent years has been the rapid emergence of metasearch engines. With shifting behaviours in how savvy travellers search for, compare, and book travel, we recognised the importance of these metasearch engines—which have quickly gained market share when it comes to the discovery phase of travel—and became the first crypto-friendly online travel agency to be listed on leading metasearch engines KAYAK and Google Hotels, alongside incumbents in the travel industry. Ishan Pandey: Cryptocurrencies have seen substantial growth in value and popularity since we last talked. How is Travala.com planning to capitalise on this trend? Are there new strategies or technologies you're implementing? Ishan Pandey: Cryptocurrencies have seen substantial growth in value and popularity since we last talked. How is Travala.com planning to capitalise on this trend? Are there new strategies or technologies you're implementing? Ishan Pandey: Cryptocurrencies have seen substantial growth in value and popularity since we last talked. How is Travala.com planning to capitalise on this trend? Are there new strategies or technologies you're implementing? Travala.com Juan Otero: We’ve honed our web3 strategy by partnering with projects to promote cross-community growth and leverage the power of highly engaged web3 audiences. Juan Otero: As a result, we now have over 100 cryptocurrency payment options and frequently conduct campaigns with partners to promote the ability to travel with crypto on Travala.com . From leading web3 events like TOKEN2049 and Paris Blockchain Week to traditional brands interested in expanding their audience—such as Marriott International and the Catalan Tourist Board—we’re leveraging our position as the bridge between the world of traditional travel and the web3 space to continue underscoring our reputation as the leading crypto-native travel booking service. Travala.com We’ve also introduced Bitcoin rewards for Platinum and Diamond members of the AVA Smart Program, the travel rewards program available on Travala.com in partnership with the AVA Foundation. These two membership groups can receive up to 10% back in Bitcoin on bookings made via Travala.com , which can be put towards future bookings or transferred out of the platform. Travala.com Travala.com Ishan Pandey: With rising competition and shifting consumer behaviors, how does Travala.com intend to differentiate itself in the travel industry? Ishan Pandey: With rising competition and shifting consumer behaviors, how does Travala.com intend to differentiate itself in the travel industry? Ishan Pandey: With rising competition and shifting consumer behaviors, how does Travala.com intend to differentiate itself in the travel industry? Travala.com Juan Otero: As consumer behaviours continue evolving and products become increasingly tailored to the millennial and Gen Z audience that now make up the majority of the travel market, the key advantage that we have over more established players in the travel industry is our agility as a team, coupled with our innovation-first approach. Juan Otero: We predict that crypto payments will become more commonplace as the web3 industry continues to mature, to the point where it will no longer be a point of differentiation. Other web3 elements (and how successfully they can be incorporated into the travel experience) will therefore be the main area of differentiation for Travala.com . From areas like web3-oriented loyalty programs to digital collectibles, we’re continuously exploring new ways that enhance the experience and make it more rewarding, pushing the boundaries of what travel is in today’s age. Travala.com Ishan Pandey: Previously, you mentioned the impact of Bitcoin halving on your operations. Can you expand on how recent cryptocurrency events have influenced Travala.com's market dynamics and user behavior? Ishan Pandey: Previously, you mentioned the impact of Bitcoin halving on your operations. Can you expand on how recent cryptocurrency events have influenced Travala.com's market dynamics and user behavior? Ishan Pandey: Previously, you mentioned the impact of Bitcoin halving on your operations. Can you expand on how recent cryptocurrency events have influenced Travala.com 's market dynamics and user behavior? Travala.com Juan Otero: The positive market action driven by the Bitcoin halving saw the cryptocurrency reach an all-time high in mid-March earlier this year and resulted in our bookings soaring, leading to the strongest quarter in Travala.com ’s history. Juan Otero: Travala.com As approximately 75% of our bookings are purchased with crypto, we experience a strong correlation between a crypto bull market and high booking volume on our platform, given the additional value available for travellers to derive from their crypto assets in dollar-value terms.
With the fourth Bitcoin halving now behind us, we expect the crypto market to continue performing well in the next 12–18 months, based on historic trends following previous Bitcoin halving events. Ishan Pandey: Finally, considering all the challenges and opportunities that have emerged, what is your long-term vision for Travala.com in this new era of travel and technology? Ishan Pandey: Finally, considering all the challenges and opportunities that have emerged, what is your long-term vision for Travala.com in this new era of travel and technology? Ishan Pandey: Finally, considering all the challenges and opportunities that have emerged, what is your long-term vision for Travala.com in this new era of travel and technology? Travala.com Juan Otero: We see Travala.com as becoming a hub for crypto travellers to create genuine connections with the world, themselves, and each other. Web3 is a community movement, and our community is constantly brimming with discussions about travel tips, destinations to explore, the broader web3 space, and suggestions for Travala.com . Juan Otero: Travala.com Travala.com We want Travala.com to be more than just a platform where travellers go to book their travel; in the long term, we envision Travala.com solidifying its position as the world's leading web3 travel ecosystem, where knowledge, creativity, and of course the act of travel itself is rewarded. Travala.com Travala.com Don’t forget to like and share the story! Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: This author is an independent contributor publishing via our business blogging program . HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR. Vested Interest Disclosure: business blogging program business blogging program

How Travala.com Skyrocketed to $22 Million in Revenue: Lessons for the Travel Industry

কিভাবে Travala.com স্কাইরোকেট $22 মিলিয়ন আয়ে পৌঁছেছে: ভ্রমণ শিল্পের জন্য পাঠ

Wie Travala.com seinen Umsatz auf 22 Millionen Dollar steigerte: Lehren für die Reisebranche

Cómo Travala.com se disparó hasta alcanzar los 22 millones de dólares en ingresos: lecciones para la industria de viajes

Comment Travala.com a grimpé à 22 millions de dollars de revenus : leçons pour l'industrie du voyage

कैसे Travala.com का राजस्व 22 मिलियन डॉलर तक पहुंचा: यात्रा उद्योग के लिए सबक

Travala.com が収益 2,200 万ドルに急上昇した方法: 旅行業界への教訓

Travala.com이 2,200만 달러의 매출로 급상승한 방법: 여행 산업을 위한 교훈

Como Travala.com disparou para US$ 22 milhões em receita: lições para a indústria de viagens

Как выручка Travala.com взлетела до $22 миллионов: уроки для туристической индустрии

Travala.com'un Geliri Nasıl 22 Milyon Dolara Yükseldi: Seyahat Sektörü İçin Dersler

Làm thế nào Travala.com tăng vọt doanh thu lên 22 triệu USD: Bài học cho ngành du lịch

Travala.com 如何实现收入 2200 万美元：旅游业的教训

Data breaches and information theft are rampant – indeed, with more information sitting online than ever before, criminals lurk in the shadows of the web. In 2020, over 33,000 individuals registered on the Pandemic Unemployment Assistance program had their identities exposed in a data security breach. If that sounds like a lot – you might be surprised to know that in 2018, Marriott International suffered a data breach that affected 500 million guests, which included leaked banking information. If you’re still not convinced, Yahoo suffered the largest data breach of all time, with three billion compromised accounts. A solution is needed to the crisis of individual data. Passports, driving licenses, addresses, and dates of birth – all documents that individuals should have true ownership of, without the involvement of a centralized authority. With the advent of blockchain technology and zero-knowledge proofs, we might finally be looking at a solution – today, we’ll be discussing , the challenges facing its mass adoption, and the potential remedies sitting on the horizon. Self-Sovereign Identity What is Self-Sovereign Identity? The term ‘Self-Sovereign Identity’, or SSI for short, tends to be used interchangeably with ‘decentralized identity’ and tackles the very problem we studied in the introduction – the security of personal information. SSIs aim to return ownership of identity to the individual. Imagine having a non-custodial crypto wallet, but instead of just holding different kinds of crypto currencies and NFTs at a stretch, you could hold your driving license, passport, and qualifications. Such a system would mean that each user fully owns and controls their own data with increased security and privacy, eliminating the central points of failure that we’re all too familiar with. As an added bonus, data can’t be tracked and correlated by corporate algorithms looking to compile and exploit user data. An SSI could be used to store academic qualifications in digital form, so that they can be used prior to a job interview to demonstrate authenticity without the disclosure of unnecessary information to the employer, such as one’s date of birth, for example. This is also where Zero-Knowledge Proofs come in, a kind of technology that can be used to provide solely needed information to a target audience, all the while being cryptographically secured on the blockchain using a cryptography function. The end result is beautiful – a system providing a better, more convenient user experience, one that greatly reduces data misuse and identity fraud. Organizations employing and partnering with such technologies undoubtedly see increased consumer confidence and reputation as a result. How does it work? It’s all very well in theory, but understanding how SSIs work in practice is equally as important. There are three main aspects to any SSI system: – this is the individual creating the decentralized identifier with the help of a digital wallet. For example, an individual embarking on a job search, looking to prove his or her academic suitability for the task at hand. The holder is the one receiving Verifiable Credentials (in other words, digital, cryptographically secure digital credentials that may be presented to the employer). The holder – this relates to the recognized authority responsible for issuing verifiable credentials to the holder. For example, the passport office, a university, or a training center. The issuer – this is the party requesting the check. This could be an employer looking to verify an individual’s right to residency, an online shop verifying the age of a customer, or a bank verifying a mortgage applicant’s credit score. The verifier Due to the convenience of such technology and its ability to massively reduce instances of data breaches and identity theft, there are already a handful of solutions working on SSIs today. Dock Wallet is a great example – an app that lets a holder conveniently import a range of digitally verifiable credentials via QR Code or JSON file. As each of these credentials is permanently verified on the blockchain, the role of the issuer diminishes as ownership is transferred to the holder. Competing, more technologically complex solutions such as Gitcoin also serve to accelerate the adoption of decentralized identifiers with greater choice when it comes to credentials. Many firms are also experimenting with Sismo badges, or SBTs for short, a kind of technology that serves to tokenize identity. Ultimately, these badges prove the ownership of select Data Shards that are stored in user vaults. These shards facilitate the categorization of users without the revelation of any sensitive personal data. Badges might be ‘contributors to a specific GitHub repository’, could indicate long-term use of a certain blockchain, or they might relate to something as simple as nationality. Problems with implementation In theory, SSIs work. In practice, SSIs work. However, just because something solves a problem doesn’t guarantee its widespread adoption. Many barriers still lie in the way of SSI systematic adoption, characteristic of the border issues with the transition to Web3: The first stumbling block lies in the s. When digital transformation happens at different rates across industries, there can be great challenges for businesses such as Dock Wallet. For example, if an organization has implemented a different identity and access management policy to its customers, then Dock Wallet’s SSI on the customer end will be useless. If customers don’t have a use for the technology, then regardless of the hypothetical beauty, it simply won’t be downloaded. backward compatibility of self-sovereign identitie The next hurdle is familiar to systems of decentralized finance and relates to the steep and involved in understanding and interacting with blockchain technologies. Consumers are ultimately used to handling simpler methods of access authorization, and with the amount of anti-blockchain press being peddled by the media, it’s unlikely that a newcomer is going to be open to storing their sensitive data on the blockchain. In short, the adoption of blockchain technologies as a whole seeps into the issues surrounding the implementation of mass SSI. complex learning curve An issue specific to SSIs, however, is that PII (personal identifiable information) will still be created in order to create verifiable credentials. Moreover, due to the current legal landscape and associated costs, verifiers are likely to copy credentials and have PIIs of their own. This means that while the storage of personal data is less centralized, there are still barriers to true decentralization, and the possibility of data breaches and information theft isn’t completely stamped out. centralized databases Another important point to make is that the widespread adoption of SSIs is c of large companies. As one of the consumer-side benefits relates to greater online anonymity, businesses will no longer be able to target audiences on a microscopic level. As, more often than not, the larger companies are the ones with industry-moving power, they may choose the more profitable, and therefore more privacy-invasive option of inhibiting the growth of SSI technology. ounter-productive for the marketing efforts The last notable issue facing the widespread adoption of SSIs is . Higher costs are associated with longer dApp testing periods, and PKI (public key infrastructure) solutions are much easier to securely implement. the complexity of developer environments If these barriers cannot be overcome quickly, the community excitement surrounding digital identities may dwindle until a significant technological breakthrough can be made. What are the solutions? Despite the challenges facing the widespread adoption of digital identities, there are a range of projects, just like Dock Wallet, aiming to navigate them. The first solution relates to the and would propose a hybrid approach to verifying identity, be it digital or physical. backward compatibility problem One doesn’t have to glance back very far to analyze how contactless payment cards came into play. Readers (or in our case, the verifier) could accept both contactless and contact-based payment methods. Only then, after a public adoption period, did contactless-only terminals begin to surface. This is certainly how we would aim to approach the backward compatibility problem. On the customer side, it’s all but a waiting game. Statistically speaking, the percentage of blockchain-literate individuals is increasing at a rate not too far away from computer literacy in the 1990’s. In terms of , new projects such as Gitcoin are beginning to gain traction. Now, the Gitcoin Passport on offer by Gitcoin is gaining momentum as the industry standard. On this platform, users can create an SSI and release a large set of verifiable credentials – far greater than those on offer by Dock. Via the Gitcoin terminal, stamps can be attained where the platform itself acts as the issuer. Regardless of the platform giving even greater power to the user, ready-made infrastructure still exists to protect against Sybil attacks with liveness checks and KYC. Moreover, Gitcoin is built on a decentralized data network known as Ceramic. This is known in the industry as being the Web3 standard for storing DIDs and VCs – as such, Gitcoin has much better grounding when it comes to solving the integration problems that Dock currently faces. fighting persistent centralization In terms of the to accept such solutions, it’s also a waiting game. With recent legislation such as GDPR in the EU setting out a framework for how companies process data, there’s an observable regulatory trendsetting the stage for a more anonymous world. willingness of ‘big corporations’ In the evolving landscape of self-sovereign identity (SSI), World ID, introduced by Worldcoin, emerges as an exemplar of innovation combined with privacy. This decentralized identity protocol seeks to sidestep many of the traditional hurdles faced by SSI platforms. Instead of relying on centralized agencies or personal data like names and emails, World ID underscores a user's uniqueness through zero-knowledge proofs, ensuring that users remain in complete control of their personal data. The protocol's multi-faceted verification approach, which includes phone number verification and Orb biometric authentication, further diversifies its identity validation methods. World ID's emphasis on creating a privacy-first, decentralized identity solution addresses many concerns regarding data monopolies and centralized control. However, as with other SSI platforms, its widespread acceptance will require addressing challenges such as global interoperability, universal recognition, and user education about the importance of data privacy. World ID's strategy, rooted in decentralization and fortified by advanced cryptographic methods, signals a promising trajectory for the mass adoption of SSI. Final thoughts While the solutions proposed are speculative, and hypothetical in most instances, they all point towards time as a common factor. Indeed, a conclusion can be drawn that as time goes on, blockchain literacy will increase on both the developer and the consumer sides. With ongoing data breaches across a vast number of industries, regulation may very well assist in the growth of SSI popularity, especially in the world of big corporations. Indeed, with time, applications such as Dock Wallet will expand their product offering and explore more hybrid integration methods. There’s no doubt that the challenges facing the mass adoption of self-sovereign identity are vast and difficult to overcome, but the dream of true privacy and selective disclosure is vivid, and Rome wasn’t built in a day.

Self-Sovereign Identity and the Challenges Facing its Mass Adoption

As the global tech landscape has moved in a more decentralized direction over the last few years, the burgeoning Web3 paradigm has completely redefined the idea of individual data privacy and security. Built on blockchain technology, Web3 platforms — especially security-centric ones — store data across a network of computers and not some centralized entity, thus substantially reducing any chance of third-party hacks and exploits. One of the key advantages of Web3 systems is that they allow individuals to take control of their data, which is a significant departure from the current state of things, where many companies own and control sensitive information related to their users. Over the past decade, several reputable firms have been found to have compromised their clients' data. Individuals are protected by data privacy because it prevents their personal information from being gathered, processed, or shared without their knowledge or permission. This may include names, addresses, Social Security numbers, financial information, and internet history. Individuals may be vulnerable to identity theft, financial fraud, and other hostile behaviors if their data is not protected. Furthermore, data privacy is critical for establishing trust between people and organizations and ensuring that personal information is treated ethically and responsibly. Consumers may be worried about data privacy because firms and organizations often acquire a large quantity of personal data from their users, including personal identity data and browsing history, location, preferences, and even biometric data. Companies may profile consumers and utilize this information for targeted advertising or even decision manipulation using this data. Data breaches are also , making it simpler for hackers to access and steal sensitive information. As a result, sensitive personal data may be disclosed online and utilized for fraud or other nefarious purposes. growing more regular and sophisticated Furthermore, governments and other organizations may get access to personal data without the users' knowledge or agreement and use it for surveillance, censorship, or other reasons. Because of the lack of transparency and control over how personal data is used, users must be more aware and take precautions to safeguard their personal information. Misgivings galore As mentioned earlier, there have been several high-profile cases of major companies indulging in illegally sharing their customers' private data in recent years. For example, allegedly collected the personal data of Facebook users over many years without their knowledge. Cambridge Analytica Another example is the Equifax data breach in 2017, in which the personal information of customers was exposed to hackers. In 2018, Google was fined by the French Data Protection Authority (CNIL) for not properly obtaining user consent for targeted advertising. In the following year, guests of Marriott International had their data exposed in a data breach over four years. 143 million $57 million 500 million In 2021, TikTok was fined by the Federal Trade Commission (FTC) for collecting data on children under 13 without their parent's consent. In addition, WhatsApp is currently dealing with a lawsuit in the U.K. for sharing users' data with Facebook without their consent. $92 million Decentralized solutions are needed moving forward With more and more individuals beginning to understand the importance of protecting their digital data, there has been a significant surge in demand for self-sovereign data custody solutions. One such offering is , a decentralized platform that revamps how users exchange their data online. To elaborate, it enables users to come up with their decentralized personal identities (DID), as a result of which they can retain complete control over their information, especially from third-party surveillance. ShareRing From an operational standpoint, the project utilizes blockchain technology, specifically the ShareLedger platform. This ensures that all shared data is securely stored and managed in an immutable, distributed ledger. Moreover, it should be noted that ShareRing features two central components: ShareRing ID and ShareRing Vault. While ShareRing ID consists of an individual's verifiable physical documents (matched using OCR, Ai, and facial recognition technology), its Vault module can be seen as a digital representation of the person's identity (including official I.D. documents, membership credentials, academic qualifications, etc.). To put it another way, the Vault is a digital platform capable of automatedly managing and characterizing an individual's identity. Another offering in this vein is BlockID, a -based distributed identity cloud service utilizing cutting-edge biometric technology and blockchain to authenticate and confirm the identity of individuals (seeking access to various systems and programs). This contactless system is designed to provide secure and efficient verification. 1Kosmos With the help of identity-proofing features, users will be led on an identity enrollment journey that is best for mobile devices. Users can sign up with several forms of I.D., such as passports or driver's licenses. In addition, the protocol can use non-physical identifiers like banking credentials to verify identities even more. When a new account is opened or a new form of I.D. is registered, the registered address and phone number are checked with the institution that issued the account or I.D. The protocol then checks the user's identity by comparing the recovered image to the user's LiveID scan. When the person's identity has been confirmed, their biometrics and identification information are stored. Lastly, users can also check out Digital Credentials solution. It offers a secure means for exchanging information globally, allowing individuals and organizations to control how they own, manage, share and maintain their identity and information. It is built on a standard-based decentralized identity framework that empowers individuals and organizations to self-sovereign data ownership. IBM's Users can access their digital credentials through a mobile app, and employers and other organizations can easily verify them through the platform. The solution can be used in various industries, such as education, healthcare, and finance. It also offers analytics and reporting features for organizations to track the usage of the credentials and evaluate the program's effectiveness. Employers and other organizations can easily verify their credentials through the platform. They can search for individuals based on specific criteria, such as name or qualifications. In addition, they can view detailed information about the credentials, such as the date they were issued and by which organization. What lies ahead? Research studies estimate that over the next three years, issues related to identity theft and data breaches will grow exponentially, rising from their . Therefore, as we continue to see clear growth in the use of decentralized identity services, it stands to reason that platforms will garner an increasing amount of mainstream prominence. 2015 valuation of $3T to $10.5T during that time

Web3.0 Powered Privacy: Decentralization for More Control and Transparency

Seeing that there was a massive influx of ICOs back then, and having over seven years of experience in the communication industry, I figured that I should merge my hobby in trading cryptocurrencies with my professional talent in communications/public relations. " " Interview Transcript: You started one of the most prominent PR agencies in the crypto industry when you were just 27 years old. Can you tell us a bit about the journey of building Crypto PR. ’s success comes from several things, but to put it simply, I genuinely had an idea that translated into a product that was better than the competition. Crypto PR I was introduced to the crypto industry from an HSBC banker; at the time I was a PR consultant for the world’s largest PR agency, Edelman. I used to handle the PR for well-known corporations such as HSBC, Marriott International, and LinkedIn. By summer 2017, I was the only person in the agency who had hands-on experience with cryptocurrencies and blockchain. Seeing that there was a massive influx of ICOs back then, and having over seven years of experience in the communication industry, I figured that I should merge my hobby in trading cryptocurrencies with my professional talent in communications/public relations. By November 2017, I onboarded Edelman, their first cryptocurrency client, and a month later I left my job. By January 2018, I walked into an exclusive crypto event in Dubai and pitched myself as a freelancer for the first time ever. There were about 25 ICO projects with booths erected across the hall, and I talked to each one and successfully landed five of them as clients on the spot. A month later, I got a surprising call from CNBC asking me to talk crypto at a one-hour live interview during their peak-time program. This was the first time Crypto PR went officially mainstream. The secret of our continuous growth in this field comes from being honest and straightforward with all our clients, never have we ever over-promised on things that we couldn’t achieve just for the sake of winning a client. I can count numerous agencies that have done unethical things to win clients over, but eventually karma strikes back. What is your current vision of the crypto market? What are the three most significant events that have happened in the past three months? Crypto will continue to grow, and I see that we’re on the verge of global adoption. During the current pandemic we are experiencing, crypto proved to be the best form of transfer of value. In the comfort of their own homes, people are able to continuously make global payments/transfers through cryptocurrencies, at a time when many bank transactions are frozen due to worldwide lockdowns. As for the time being, the three main events that recently occurred in the crypto market are: The rise of DeFi tokens Global sovereign institutions and authorities adopting crypto Increasing interest in NFTs (Non-Fungible Tokens) PayPal recently announced that they will be adding crypto-buying services to their platform. Do you think that the era of crypto wallets for the mass market is over? So this is very interesting, the situation here will surely exceed the demand for crypto adoption among the mainstream audience. PayPal has already mentioned they received an overwhelming amount of requests from its current users to subscribe into their crypto services, with a waiting list that is triple the number they previously expected. However, they are just allowing 10% of their US customers to test their crypto wallet in the early stages, prior to mass adoption in Q1 2021. PayPal’s adoption of crypto will surely entice current crypto traders and newcomers to join their platform, and it may even impact the current crypto exchanges given their continuous hacking issues. PayPal could be a safer place to store and trade crypto, but it won’t lead to shutting down the use of current crypto wallets. If anything, it may lead to a huge influx of newcomers to open wallets in current exchanges to risk trading with a variety of tokens. DeFi added another $3 billion in locked value since September; what do you think about this? Is this a long-term game or just a new ICO scam? If I was asked this question three years ago, I would have said that DeFi’s market cap will continue to rise to astronomical levels… But the reality seems to be far from the truth. We are seeing many scams that emerge everyday, and DeFi protocols have made scamming much easier than in the past. At the moment, anyone can develop a DeFi token, and at least 80% of them turn out to be a scam. I believe that the billions flowing into DeFi tokens came from greed to make a quick buck and not out of belief in DeFi. But don’t get me wrong, I’m not saying DeFi is not worth the money flowing into it, but I would wish that people would pay attention to the projects they invest in, as the technology has remarkable solutions and it does have a real use that considers long-term perspectives. Personally, I wouldn’t invest in a DeFi project that conceals the name of its founders, and has bad branding with basic websites (if any). Those that start a token sale without clearly showing effort in creating it are a red flag. We already saw a mass audience come to the crypto market in 2017, and it seems that everyone who is interested in crypto is already here. Do you think that the current user base is at its maximum, or will we see a new phase of “to the moon” again? I would argue that crypto market did see a new wave of adopters, especially those that missed the 2017 wave and were spectating another good entry, MetaMask has recorded 400% growth compared to 2019, with over a million new wallets opened to trade on decentralised exchanges such as Uniswap. The recent Paypal announcement, additional to the 601k BTCs held by companies listed on Nasdaq, and having some banks (such as Gazprombank) offering bitcoin trading and custody, could be signs that we are marching towards a wide scale global adoption. How long do you think it will be possible to receive such a big profitability rate in DeFi? When trust in DeFi projects increases through a Proof-of-Work and concept, and when a new regulation is set to curb the emergence of scammy projects. Are you earning with DeFi yourself? I did invest in DeFi for experimental purposes, and it would be profitable for those that put their time and effort in researching the projects on the market, but the fact is that everyone has tasted both the sweet and the bitter of this highly volatile market. What top three blockchain projects that appeared in 2020 stood out to you the most? I wouldn’t be able to highlight a specific project, but I would say that I’m a big fan of deflationary tokens. I’ve seen those become the most profitable asset to traders in the long term. Do you think that DeFi is just another instrument for traders? It seems that the crypto product market fit is trading, and the reality has shown that all of those “decentralized ideas” are just not viable. DeFi has made buying and selling tokens easier than ever, so it did improve the trading process, and any token could be easily listed for free on DEXs; therefore, the dictating demands of centralized exchanges ceased to exist with DeFi tokens. But for most of us traders that are currently involved in DeFi, yes, they are clearly in it for a quick buck, and DeFi did not disappoint from this perspective. We’ve seen projects skyrocket in value in minutes, but not because they have a great idea or they are solving a world problem. The truth is, they just hyped their tokens on Twitter and Telegram. How do you see the current regulation landscape in crypto? What has changed since 2017? It still seems to be that we are still in the wild; governments still did not find a reasonable way to regulate crypto, probably because of the lack of experience in the industry, or because they still see it as a relatively small market. After all, the all-time high of crypto market capitalization stood at the boundaries of $900 billion, which is just 1/10th of the current market capitalization of crypto’s most relatable asset, gold. But based on recent events, the IMF has hosted an online conference that discussed the creation of a unified CBDC (Central Bank Digital Currency), and to give central banks power to adjust fiscal policies on an individual basis rather than the current “one size fits all” method. If these changes come into realization, then the regulation landscape in crypto could change significantly. It seems that the SEC has shown us what could happen if you try to scam users through ICOs. Do you think that DeFi will share that same fate? I hope so. No scam should be tolerated, and the SEC is doing the right thing by prosecuting scammers. But in the case of DeFi, scammers try to be more sneaky by concealing their identities, making it harder for regulators to track them. Nonetheless, there are several ways to track scammers and eventually they get caught.

"The Billions Flowing Into DeFi Tokens Come From Greed and not Belief in DeFi" - Mohanned Halawani

Zero-party data (ZPD) means a company only collects user data that is freely given. Period. But why would a modern business, raised on the wonders of , undertake such a foolish philosophy? Maybe because they aren’t fans of financial ruin. Big Data The idea of treating a user’s personal information the same as a civil right didn’t start with the GDPR ( ) and CCPA (California Privacy Act), but these two revolutionary consumer privacy regulations sure gave the idea a solid kick in the rear end. After and were fined $230 million and $123 million respectively in 2019 by GDPR for data breaches, companies around the world were paying attention. General Data Protection Regulation British Airways Marriott International The question to ponder is whether ZPD is a legitimate business strategy or an unrealistic pie-in-the-sky yearning? Let’s dig deeper. https://www.bankinfosecurity.com/gdpr-126-million-in-fines-counting-a-13630 How GDPR Can Ruin Your Day Back in 2018, the EU enacted a sweeping set of regulations determined to take back consumer privacy by allowing every individual on this planet who uses the internet to be in charge of their own personal data. Though based in Europe, the new rules, for all practical purposes, apply to any website that is accessible to Europeans, which means almost all of them. The part that drew the attention of website owners around the world was the mind-blowing fines that could be levied for mishandling data, an amount equal to 4% of annual revenue or $20 million, whichever is GREATER. As fines were applied in ever greater amounts, some companies reconsidered the necessity of storing personal user data at all. But before we venture into the pros and cons of that “crazy” little zero-tracking idea, let’s reverse course a bit and review the types of data collected and where it comes from. Know Your Data Types In the beginning, God (or the deity or random force of your choice) created three types of data. First Party Data - any data collected directly from consumers. Second Party Data - any data received from the party that collected it directly Third Party Data - any data collected through a variety of sources and received from a broker who was not involved in the initial collection. In recent years, the and a critical part of in the modern business world. The practice is now so ingrained in a company’s DNA that no one ever questioned whether it was right or wrong, effective or a waste of time. Along the way, though, marketers realized there was a problem with their definitions. automation of data collection has become synonymous with marketing revenue increasing strategies https://commons.wikimedia.org/wiki/File:Cloud_For_Permanent_Digital_Storage.jpg Data collection gurus observed that the first party data (FPD) category really needed to be split in two. It was obvious that there was an ocean of difference between FPD collected through and that received as a result of a user making a conscious decision to share their data through contests, surveys, downloadable ebooks, discounts, recommendations, quizzes, social media, and the like. sneaky little trackers and cookies To review, ZPD is data that a user gives you on purpose. A centers on this idea. Add in the looming spectre of the hand-smacking GDPR power to find a business out of existence, and you have an increasing number of companies considering whether they need to collect and store any data at all. growing conversation in the online business community In other words, move to a zero-tracking model. How ZPD Works in the Real World In order to embrace a ZPD model, an organization finds itself in opposition to a world that never met a scrap of personal information it didn’t want to tuck away in a database somewhere. So how does a company go about bucking the trend and reach for this new ideal? The first order of business is to focus on the things a consumer actually intends to share, such as: How they want to be identified How, where, and when they want to be contacted What they intended to share when they purchased Anything that strays outside these boundaries is taboo for ZPD purposes. In order to exit the black hat side of the data collection game, the first thing that has to go is cookies and the various trackers that follow us around online everywhere we go, sending our browsing habits data back for analysis. Though marketers might experience a full blown seizure at the thought of voluntarily surrendering any level of data collection capability, a moral aspect comes in. You remember about morality, right? Where you do the right thing because it’s the right thing and not for fear you’ll get in trouble. Try this. Rather than obsess on all the formerly acceptable tactics you used to deploy, and which are now off-limits, focus on the three items above. It’ll make your life simpler, that’s for sure. And for those who prefer to go about their merry way collecting personal information by any means available, good luck with that. Hope the nice folks at the GDPR don’t notice. Benefits of ZPD Before you tie yourself to the nearest train tracks or leap from the tallest bridge you can find, stop for a moment and consider that there are a handful of real benefits to embracing the ZPD game. It’s more accurate and helpful: In case you haven’t noticed, consumers are becoming more reluctant than ever to share their personal information and (GASP!) might even provide bogus information. That means that the data you buy from a third-party broker is at least some percentage of pure undiluted crap. Is that what you want to base your marketing on? Embrace the future: If you think the GDPR and CCPA are the end of personal data regulation, here’s a tip - you’re wrong. Get used to the idea that consumer information will become even more off-limits in the future. Invaluable Consumer Trust: What’s more valuable than scraped, out-of-date third party data? How about customers that actually trust you and continue to buy your product/service for that very reason? The bottom line is that the ZPD model creates an actual dialogue with consumers and that’s good for business. https://www.visualcapitalist.com/5-big-marketing-budget-mistakes-avoid/ There are no guarantees, but a ZPD approach might (should) have a positive effect on your bottom line. Before transitioning to this method, take note of the and monitor whether or not they show a new positive growth over time after you switch to ZPD. Maybe, just maybe this whole “treating a customer like you would like to be treated” will pay off in higher profits. current key performance indicators tracking in your business The Search for Privacy Conscious Software No one said switching to ZPD would be easy. The online world is built around the idea of out of anyone it can. To move away from that model, you’re going to have to get rid of some of the platforms, software, services, and apps that you’ve grown accustomed to. The good news is that there is a whole world of privacy conscious software waiting to be discovered. strong-arming personal information Remember that customer dialogue we talked about? A great way to start one is to point out how most of the online world works in exhibiting no remorse for its shady data collection tactics. Don’t just focus on selling your product or service. Educate them on how to protect themselves anywhere they go online by using tools tuned for privacy. Maybe they aren’t aware that an easily installed, from prying eyes when they go online. For Google addicts, there are a variety of private, secure search engines - is a popular one - that return the same results and don’t violate your privacy a dozen different ways while doing it. Other include password managers, private email, ad blockers, secure browsers - and the list goes on. free VPN can hide their internet sessions DuckDuckGo categories of privacy software Final Thoughts If you’ve decided to move your company towards a ZPD model, bully for you! Prepare for resistance from your marketing department, though they will hopefully be able to see the wisdom of the benefits we mentioned. The first step is to figure every avenue by which any form of non-permissive personal data arrives and shut off the faucet. Eliminate all forms of second and third party data. Review your marketing strategies to make sure you’re not relying on any type of cookie or tracker. Audit your website to make sure any customer data outreach relies on the white hat methods mentioned above. The bottom line is that none of this is difficult, it’s just different, which makes it pretty dang hard for some to do. Let’s close with a bit of Yoda-esque advice, though we’re pretty sure the little green guy never actually said this: let your conscience guide you. Now get out there and don’t track anything without permission because you’re part of the Zero Tracker Movement.

What You Should Know About Zero-Party Data

If you are alive and functioning as a member of society in 2020, chances are you've used a or a proxy server in the past. It may have been to stream a sports channel not available in your home country, to gain access to a foreign website, or to overcome the one-vote-per-IP address challenges associated with having multiple people in one household trying to do the same thing online. VPN (Virtual Private Network) VPNs and proxies make life — and being entertained, in particular — easier. But in 2020 is more important than ever, with the number of victims of cybercrime growing each and every year. show that this year alone, tens of millions of Americans will have their , credit-card numbers, or hospital records hacked or stolen. protecting your personal and corporate data Key internet statistics digital identities A ’s most recent report an estimated 64 million American adults —more than a quarter of the adult population — had their personal data breached in 2016, and that number is only growing. ccording to RAND research organization For businesses especially, protecting customers’ data is absolutely critical and is the minimum that most people expect from companies they invest time or money in. , accessing 145 million records, and in 2018, a Marriott International data breach affected roughly 500 million guests. Yahoo holds the record for the largest data breach in history to date, with the theft of 3 billion compromised accounts. Not even the big guys are immune from data theft, it would seem. In 2014, Ebay was hacked A whopping 68 percent of business leaders feel their are increasing, and their fears are justified: 62 percent of businesses experienced phishing and social engineering attacks in 2018, and data breaches exposed 4.1 billion records in the first half of 2019. To top it all off, a mere 5 percent of companies’ folders are properly protected, on average. At the same time, has found the average cost of a business data breach to be $3.8 million. So the question of whether a proxy or VPN is better for protecting personal data is an extremely valid one. cybersecurity risks Microsoft Let’s start by looking at what each of these data security tools are before assessing which is best to use in 2020. A VPN, or Virtual Private Network, allows you to create a secure connection to another network over the Internet, while a , also known as a "proxy" or "application-level gateway", is a computer that acts as a gateway between a local network (for example, all the computers at one company or in one household) and the internet. proxy server A proxy server acts as a middleman, if you will, in the flow of your internet traffic, so that it appears as though your internet activities appear to come from somewhere else. For example, if you are located in Australia but want to access a film or website only viewable for internet users in the United Kingdom, you could connect to a proxy server located within the UK, which would then allow you to view that website or watch that film. Proxies are typically considered safe for lower-risk activities, like watching region-restricted YouTube videos, or bypassing IP-based restrictions on services. But when it comes to higher-risk activities, VPN is always best. This is because a VPN encrypted tunneling service secures 100 percent of your internet access, unlike a proxy which only secures a torrent client or web browser. Proxies only hide your IP address, and don’t have the capacity to encrypt traffic between your computer and proxy. Proxies come with few additional security considerations, meaning that prying eyes or anyone who truly wants to identify private information can do so. VPNs, on the other hand, can protect you and your customers’ data from ISP tracking, government surveillance, and hackers. VPNs provide comprehensive data protection, and will capture the traffic of every single application on your computer, from your web browser to your online gaming to your Google Drive, which is of course constantly running in the background as you browse. On a practical level, VPNs are also far more dependable than proxy servers. The connection is more reliable than proxy servers, which drop more frequently, and with a VPN you’ll also get faster connections and military grade encryption. To seal the deal, most operating systems have integrated VPN support, allowing pretty much anyone the opportunity to shield browsing activity from prying eyes, the government, hackers, and so forth. , with estimates in place that a business will fall victim to a ransomware attack every 11 seconds by 2021. It’s time we started taking cybersecurity and data protection seriously. Given that a VPN can cost as little as $5 a month, it seems absurd to consider anything other than not investing in one in 2020 - to protect both yourself and your business. Worldwide spending on cybersecurity is forecasted to reach $133.7 billion in 2022

Proxy Vs. VPN: What Is Better For Data Protection in 2020

Our identity is, without doubt, the most important asset we hold. In the digital age, our daily lives are fraught with dangers which undermine our identity or expose details of our personal lives we’d rather keep out of the public realm. Often, it’s necessary to give certain websites or service providers details about our identities to gain access to exchanges, financial products, or even online communities. However, every time we share our identities online, they become vulnerable and potentially open to criminals. At present, the safety of our online identities is only as secure as the third-parties who hold them, the number of which increases each time we open a new account. But with blockchain, the way we store and use our digital identities could be about to change. Here, we’re going to explore how digital Avatars and blockchain-based identities could revolutionize the future of digital identification. How can blockchain provide a better digital identity? Blockchain, the digital ledger technology best known for powering cryptocurrencies, can also be used to store data in a transparent, immutable, and secure manner. As a result, it’s easy to see blockchain’s suitability for storing and managing our online credentials. Through a decentralized approach to , users are empowered to keep their personal identities safely stored on the blockchain, only revealing critical details when required to third-parties. identity management As a result of certain aspects of blockchain technology, such as zero-knowledge proofs, blockchain credentials can also be a much safer solution for storing data than directly storing identity documents on the blockchain. Zero-knowledge proofs essentially allow data to be verified as correct or existing on the blockchain, or at a certain blockchain address, without a third-party ever revealing the true value of the data – in this case personal details. The most powerful aspect of a blockchain-based identity management system is the self-sovereignty of personal data, which means that third parties never have to act as custodians for your data. When third parties have control of user data, such as emails, passwords, and personal details, they become custodians of that data. However, most companies are ill-equipped to adequately protect their customer’s data, which often ends up in data silos and vulnerable to attack. The result is huge data breaches which cause the loss of user’s data, and the potential trading of this user data on criminal marketplaces. Some well-known examples of this are Marriott International’s data breach in November 2018, which led to the data being leaked, and also Facebook’s breach in 2019 which exposed due to poor security. 540 million user’s records In practice, this means that through blockchain-based identity management, data breaches such as those which happened at Marriott and Facebook would be prevented from occurring, as third-parties would never become custodians of user data in the first place. How to protect your personal data using a Metaverse Avatar? Metaverse’s goal is to build a digital universe where blockchain-based assets, and digital identities known as ‘Avatars’, form the basis for a new way to interact with third parties and make transactions. Avatar’s can be used to manage personal digital identities on the Metaverse blockchain, as part of the digital identity layer. Each Avatar is made up of 64 alphanumeric characters and has its own address on the Metaverse blockchain. are linked to a user’s real-life identity, but do not require third-parties to independently verify the user’s personal details, and therefore never requires service providers to keep user details on file. Metaverse Avatar’s Instead, Avatar identities are already pre-verified by Oracle providers on the blockchain, and in turn the Oracle providers communicate with third-party service providers, such as banks, exchanges, and finance providers, to verify a customer’s identity. Through Metaverse’s relationships with partner banks, digital Avatar’s can be used to verify the identities of user’s looking to open an account, and pass know your customer (KYC) requirements. In this process, instead of the user’s ID being passed directly to the service provider, it would instead show that the user had been verified using their digital Avatar –keeping their identity and personal details safe and secure in their blockchain wallet. There are already created on the Metaverse blockchain, with more being created every day. almost 2,000 Avatars What are some good practices for users who want to be in control of their own data? Whilst blockchain-based identity systems may usher in a revolution in the way we manage our online identities, there are a few security considerations and best practices that users should be aware of when using a digital avatar or blockchain-based identity. 1. Protect your private keys The main consideration is ensuring that your sovereign identity, which is stored on the blockchain, is protected. This involves taking private key safety seriously. Private keys are used to access wallets, and so whilst digital Avatars and blockchain-based identities remove the reliance on third-party data custodians, they also require an extra layer of security from users to protect their private key. 2. Keep your wallets safe Other best practices include taking measures to keep your wallet safe from bad actors, such as only sharing your wallet address with known entities, and checking that addresses are correct before sending data to them. 3. Remember self-sovereignty Many of the best practices required for keeping a digital identity safe on the blockchain are similar to those for transacting safely with digital assets, and users should be mindful that a digital Avatar puts them in sovereign control of their identities. This means that while your identity is much safer in your hands, there is no centralized service provider to restore access to your wallet or private data if you lose your access information! Metaverse recommends that users follow these security best practices when using a blockchain-based identity solution, to ensure the protection of their personal information.  These steps provide a greater level of protection from third-party data breaches, but also requires greater diligence on the users’ behalf. You can create your own Avatar on Metaverse blockchain by following . this tutorial Learn more about Metaverse at: http://mvs.org/ Check out our newest development, the Dualchain Network Architecture (DNA) at: http://mvsdna.com/

Enable Secure Sovereign Identity: Avatars by Metaverse

What is your privacy worth to you? In this modern, digitized world, privacy is arguably more important than ever. It has value, far more than most may realize, and we wear and share our private information every single day through our smart phones and computers. The inherent value of information is easily proven by how society as a whole utilizes information as a commodity, exchanging it for goods and services all the time, whether it’d be “free” public WiFi, a store discount, or even access to “free” social media like Facebook. I put quotes around “free” because it is not . Monetarily, strictly in fiat such as USD, YEN, or EUR — yes, it’s , but in reality you are paying with your information. free free What if I told you that the information you are giving away is worth far more than you’re getting in return? That Facebook is making more off of your information than you are getting value in return from Auntie Jasmine’s 5th post about her dear cat Mr. Snuffles this week? Well, I just told you. Now what? Take Control, Dammit! The very first step you need to take is to protect your information. Take control of it, not letting the vultures that are ad-centric businesses — Facebook get it without compensating you_._ No, Jasmine, I don’t think Mr. Snuffles is cute enough to warrant Facebook selling me off to advertisers trying to get even more value from me. *cough cough* *cough cough* — Now, you might ask: “How do I ?” Well, let me tell you. This wouldn’t be a good article if I preached without presenting a solution. The solution, at least for me personally, is . It’s a browser with native built-in ad-blocker, keeping those pesky advertisers from yet again trying to sell you a car that you don’t need nor want. I don’t need a brand new car, Volkswagen; I’m fine thanks. take control Brave My personal statistics from just 1 week of Brave Browser use, even excluding the use on my laptop’s Brave The Switch to Brave Changing to has been quite the positive influence in my life this past week. I’ve blocked thousands of ads, hundreds of trackers, and I’ve saved 17 minutes that would have been otherwise spent loading ads — yes, you’ll even save time whilst protecting your personal information. Brave You see, manages to make your browsing up to 8x faster on popular news media sites like the New York Times by just removing the ad component of loading their sites. I wonder, is this reflective of the abundance of trackers, ads, and more on mainstream sites? Sorry, I lied. That wasn’t a question, but a statement. Brave Yes, it is reflective of that fact. There might be a final hurdle for you. “All my stuff is on Chrome and I can’t be bothered to move it over.” First of all, you’re lazy, but that’s fine — laziness was my first reaction too when I was initially recommended the browser. What I discovered when I finally got around to installing, however, is that you can simply import all your browsing data and more from any browser with 2 clicks, and what’s more is that the import is a part of the setup process for the . Did I win you over? I hope so. Make the move, be . Brave Browser brave (I accept complete responsibility for my terrible pun and I fully expect the pun police to read me my Miranda rights within the week’s end.) If I still can’t convince you, I’d recommend ’s browser extension. It’s an alternative for those who won’t move from Chrome, letting you earn crypto for watching ads in about the same way as , and also allowing you to turn ads off when you need to get things done. ClearCoin Brave “Why Should I Care?” This is something I’ve heard several times before, and you’ve also likely heard variations of it before in similar contexts. It’s a question that is reverberated across countries, ages, and social classes. It’s in fact so common that it has almost become fact, and that’s dangerous. The question is often played in two different ways, or contexts; one is tied to government spying, overstepping, and other related activities — and the other is tied to companies and more misappropriating and undervaluing personal information. Wasn’t , , and similar large companies’ scandals proof enough that private information is not best trusted in the hands of strangers with a profit incentive far misaligned with your own incentives? Facebook Marriott International Governments and Privacy In regards to government spying and overstepping, you’ve probably heard the famous saying “if you have nothing to hide, you have nothing to fear.” It is simply wrong, both factually and morally. I think Snowden puts it best: The “if you have nothing to hide, you have nothing to fear” argument doesn’t make sense. Privacy is, in fact, the fountainhead of rights, from which other freedoms flow. Privacy isn’t about something to hide. Privacy is about something to protect. That’s who you are. Privacy is baked into our language, our core concepts of government and self in every way. It’s why we call it ‘private property.’ Without privacy you don’t have anything for yourself. — Edward Snowden, ( ) paraphrased Snowden is completely correct. In my mind, by not fighting for privacy and freedom of speech, you are giving in to oppression, or at least the potentiality of oppression. If that which is you can be misrepresented and fabricated, then we truly have an Orwellian future ahead of us. Ad-Centric Businesses and Private Information When it comes to businesses and private information, the overall question changes a bit. It’s no longer necessarily about privacy, but the value of private information. The immediate value of personal information is perhaps not so visible, yet the value remains. The argument “it’s not like I’m using it for anything else” is wrong — don’t undervalue yourself. When you’re not “using it”, and you’re effectively giving it away, you’re allowing it to be used against you. And no, I’m not talking about getting blackmailed with compromising browser history. I’m talking about getting manipulated into buying products and services from companies that had absolutely no business knowing your personal preferences, perhaps compiled and sold to them by an entity like Facebook . without you even having an account there Am I being unfair to Facebook by having an elevated level of scrutiny aimed at them? Perhaps, but the lack of transparency from these entities fuel that scrutiny, and the fact that I simply who has my information, or has had my information, nor what they know about me — is scary to me. Is it scary to you? If it is, then the solution can be simple. Block their trackers, and protest against their ads. Again, can help you do just that. do not know Brave Privacy is a right, not a privilege. Personal information is valuable, not to be discarded or traded for a cup of coffee. Protect your value and share it sparingly, and if you do, in exchange for appropriate compensation. I have in the success of Brave or their BAT token, nor do I have a stake in ClearCoin. I hold $30 worth of BAT which will be given away through their auto-contribute feature — that’s it. I’m merely writing an article featuring a product which I find immensely helpful in my day-to-day life in the hopes that it might be useful for someone else too. Clarification: absolutely zero stake If you like my writing, consider following me on Medium and Twitter <a href="https://medium.com/media/ba793f076ecdd82485039d04fbc3679d/href">https://medium.com/media/ba793f076ecdd82485039d04fbc3679d/href</a>

The Inherent Value Of Private Information

Blockchain technology is bringing the power back to shoppers eCommerce marketplace giants such as Amazon, which alone takes up to , have transformed the way people shop: empowering shoppers to easily make cross-border purchases, compare and select goods from multiple vendors on a single platform. near 50% of the U.S. eCommerce market share Consumer behaviour has also shifted in this evolution of the digital environment, with 64% of respondents in a stating that they begin product searches at marketplaces, citing product variety and price as key motivators. global Amazon and Pymnts.com survey With the evolution of the eCommerce industry and more discerning shoppers with no lack of choices, this presents a new set of challenges and opportunities for industry players. In this competitive landscape, much can be done to improve current systems to maximise business efficiencies and opportunities. Blockchain technology — a perfect fit for the eCommerce industry? Enter blockchain technology — a distributed ledger technology steeped in immutability and transparency with the potential to streamline the eCommerce industry’s complex system of supporting multiple players. Blockchain technology will not only enable varying businesses to enjoy different advantages, but also help enhance the buying experience for shoppers in areas such as: By enabling a distributed peer-to-peer network, unnecessary intermediaries are removed, therefore reducing merchant mark up costs, which translates to cost savings for shoppers Cost efficiency: Providing a borderless payment solution through tokenization Convenience: A decentralised network removes the need for the middleman, protects user data and privacy by preventing any centralised access with its distributed nature. Smart contract technology also helps to enable automated escrow services, preventing any cases of fraud Reliability & security: Here, we further explore some current pain points shoppers face and how blockchain technology could help bring the power back to the people. “ I wish there was a way to forgo expensive third-party payment charges…” Online transactions are typically fraught with , including transaction, currency conversion and merchant mark up fees, which shoppers are often unaware of. To optimise this process, many companies have explored means to bypass external payment gateways and their limitations, while shoppers have looked into bank alternatives such as and . extra charges and hidden fees Transferwise Xfers The reduction of intermediaries, such as third party credit card transaction fees, will enable merchants to reduce costs, which translates to lower mark up prices and in turn leads to more cost savings for shoppers. More companies are also exploring alternatives such as proprietary payment services, with , a native payment gateway which offers an integrated payment solution in the ecosystem to simplify the payment process for both buyers and sellers. Singapore mobile marketplace startup Carousell launching Caroupay last year Asset tokenization, which issues rights to an asset through a digital representation of it could be a way to enhance shoppers’ experience by simplifying and making the payment process more convenient. Through placing it on the blockchain, it comes with the added advantages of traceability, immutability and irrevocability in the system. , is one example where shoppers can pay with , their native digital token, which removes the need for third-party fees such as transaction and service fees thus bringing cost savings to shoppers. QuuBe, e-commerce site Qoo10’s new blockchain-powered counterpart Q*Coins Blockchain smart contracts, which are digital protocols developed for automated proofing conditions of a contract between two or more parties (or otherwise best described as an automated vending machine on simpler terms), could also help eliminate the need for costly intermediaries and prevent fraud. , a blockchain-based project by Arcadier, a leading online marketplaces builder utilises smart contracts in its ecosystem to facilitate peer-to-peer transactions with the options of funds escrow, eliminating the need for costly intermediaries. ArcadierX “Is my data safe here?” A 2018 global survey on Internet Security and Trust has found that , being cautious about online transactions due to privacy and security concerns. over half of internet users are discouraged by the lack of trust online In 2014, an compromised 145 million users’ private information, while Marriott International shockingly had an for 4 years from 2016 to 2018. Such cases highlight the reality and the growing threat and impact of business data breaches. eBay data breach undetected data breach of 500 million customers The growing . This highlights the importance for the eCommerce industry to take action and explore ways to improve the current system before any potential oversight cause irreversible damage to their business and reputation. global average cost of a data breach (defined as both direct and indirect costs to the business) has risen up by 6.4 percent in 2018 over the previous year to $3.86 million Blockchain offers an opportunity to securely manage eCommerce databases through distributed ledger technology, where data and transactions can be stored in a distributed, immutable and irrevocable ledger. Through this decentralised peer-to-peer network, any single point of failure that is present in traditional centralised databases can thus be fully eliminated. is an example of a fully decentralised peer-to-peer only marketplace where data is distributed across the network instead of being stored in a central database, so the power is transferred from a central authority to individuals. Although this helps to minimise cases of data breaches and fraud, it also shifts the responsibility of ensuring safety and security to the individual. Openbazaar Of course, there are also current limitations of blockchain technology with regards to issues of speed and scalability in a decentralised network that companies have to take into consideration. For instance, some companies are choosing to integrate blockchain technology to proven areas such as data storage and payments while industry standards and technology continue to mature. , an eCommerce marketplace, is enhancing their platform with blockchain technology — building its decentralised infrastructure on top of its centralised base, in areas such as payments, data verification and smart contract execution. Storiqa “ Fake reviews, sellers not delivering the products, counterfeit goods… [there’s] too many reasons not to trust the current system!” The growth of the eCommerce industry, with (a threefold increase from 2014) presents lucrative opportunities for players looking to capture a slice of the market. retail sales projected to rise to US$4.88 trillion in 2021 With that growth, however, comes more bad players in the market looking for ways to exploit the system. is a huge issue, with the and the in the industry Fake reviews Federal Trade Commission recently bringing its first case against an Amazon merchant’s fake reviews rise of counterfeit goods Ironically, this is where trustless systems could help play a part in demystifying and rebuilding trust in the industry. As a distributed ledger system, blockchain enables a systemised way of ensuring provenance through a decentralised peer-to-peer ledger which enables the tracking of transactions and the flow of goods. Tmall Global, Alibaba’s international e-commerce platform, has integrated a using blockchain technology set to be able to trace imported goods every single step of the process, where users can simply scan a QR code and receive all information regarding the product. Likewise, Reebonz, an online luxury marketplace, has also with blockchain startup Vechain, to tackle fraud cases by enabling tracking and authentication for the luxury goods sold on its platform. global tracing system “Traceability for TMG” recently signed a Memorandum of Understanding (MoU) The benefits are not limited to the transaction of goods and services but also in other areas such as eCommerce ratings and reviews. For example, on ArcadierX, the distributed nature of blockchain technology would help prevent fake reviews and even allow sellers to bring their reputation with them on multiple marketplaces. Similarly, , another decentralised marketplace builder, is hoping to enable a transparent and automated escrow system through using smart contracts built on the Ethereum blockchain. NeoPlace Empowering shoppers through rebuilding trust Blockchain technology represents a paradigm shift in the system, transforming shoppers’ role and experience in the eCommerce ecosystem. No longer are they passive consumers, but rather active participants gaining back control of their data and privacy through decentralisation. As the technology continues to mature and gain traction, shoppers can look forward to more impactful innovations and disruptions that could further enhance their shopping experience. ** (The writer is the CCO & Co-Founder at ArcadierX) Disclaimer: Nothing written, posted or said by representatives of ArcadierX , its community managers, or community members should be interpreted as, taken as, or constitutes investment advice. All written comments are opinions of individuals and any investment is a risk that individuals take themselves. ArcadierX is leading marketplace builder Arcadier ’s blockchain initiative to onboard users with a blockchain enhanced platform. For more insights and developments about blockchain and eCommerce, check us out on Medium . What are some other ways blockchain technology can disrupt the eCommerce ecosystem? Continue the discussion with us on Telegram .

Blockchain technology is bringing the power back to shoppers

Mobile Apps are an important chunk of our lives. Barely an hour passes without us our smartphones to check out regular notifications from our favorite apps. While we use these applications to satisfy our needs, we hardly acknowledge the people behind the scenes. Yes, I am talking about top app development companies, the corporations, and enterprises which work to get the app you exactly want. These app development companies in New York cater to your specific requirements in the most efficient manner. Let us discuss some of these important App Development Companies in New york: Blue Label Labs Blue Label Labs is a 40-person mobile, tablet, watch, TV, IoT and AR/VR app design, development and marketing agency based in New York City and Seattle. Over the last 6 years, we have partnered with enterprises, entrepreneurs and digital/full-service agencies to build over 150 iOS and Android-based apps. We can help with everything from initial app design and development through app marketing/PR and post-launch maintenance. Pricing: $100 — $149/hr Location: new york Employees: 10–49 Founded: 2009 2. Hopinfirst Hopinfist is a web and mobile app development company delivering the best-in-class solutions. We’re a team of design-oriented entrepreneurs building award winning mobile applications. We specialize in the beautiful craft of branding, designing, developing, and launching , , and web apps. iOS Android Pricing: $25 — $49/hr Location: new york Employees: 10–49 Founded: 2016 3. Utility Utility specializes in crafting custom mobile applications and web software with innovative partners, from startup ventures to Fortune 500 brands. Founded by digital leaders from companies like Major League Baseball and McCann Erickson, Utility is built by folks that have been on the other side of the table. We’re made up of digital product strategists, user experience designers, and top-tier software engineers. Pricing: $150 — $199/hr Location: new york Employees: 50–249 Founded: 2013 4. iTechArt Group iTechArt is a top-tier, one-stop custom software development company with a talent pool of 1000+ experienced engineers. We help VC-backed startups and fast-growing tech companies build successful, scalable products that users love. Our forte is agile dedicated teams of brilliant minds who rock in Web, Mobile, Big Data, QA & Testing, and DevOps. Pricing: $50 — $99/hr Location: new york Employees: 1,000–9,999 Founded: 2002 5. Five Founded in 2008, Five builds award-winning mobile products that deliver measurable value to our clients, including Rosetta Stone, Squarespace, Napster, Choice Hotels, and Marriott International. Our product teams offer world-class development, design, QA, customer service and support across offices in Brooklyn, New York and Zagreb, Croatia. Pricing: $100 — $149/hr Location: new york Employees: 50–249 Founded: 2008 6. Prolific Interactive Prolific Interactive is a mobile-focused product agency based in Brooklyn and San Francisco. Through a strategy-driven, user-centric approach to creating products, Prolific delivers mobile experiences for leading brands Pricing: $150 — $199/hr Location: new york Employees: 50–249 Founded: 2009 7.Sneakers Agency Sneakers Agency is a, NYC based mobile-first product studio with a ‘work hard, laugh hard’ ethos. We provide start-ups, enterprises, non-profits and other agencies with solutions for digital product strategy, roadmapping, design, development, and QA. Pricing: $100 — $149 / hr Location: new york Employees: 10–50 Founded: 2014 8. Dom & Tom Dom & Tom is a product agency that helps Fortune 500 companies and next generation startups build the future of digital. We support our client’s strategic initiatives first and foremost through open collaboration, forward-thinking user experience, engaging design, and cross-platform development for web, mobile, and emerging technologies. Dom & Tom has launched 400+ web projects and 120 native mobile applications with teams located in New York, Chicago, and Los Angeles. Pricing: $150 — $199/hr Location: new york Employees: 50–249 Founded: 2009 9. Fueled Fueled specializes in designing and developing award-winning mobile apps and websites that are fast, attractive, responsive, and easy to use. But we’re not here to work on just any apps or for any client. We come to work in the morning to work on the most interesting projects with the best clients, whether for startups or big brands, because we’re united by an unwavering passion for quality. It’s what makes us tick. Pricing: $150 — $199/hr Location: new york Employees: 50–249 Founded: 2007 10. App Partner App Partner is a NYC-based app development firm that works with Fortune 500 brands, leading retailers, funded startups and more to craft digital products and strategies that solve business problems and drive measurable results. Pricing: $100 — $149 / hr Location: new york Employees: 10–49 Founded: 2011 These are the Top app development companies in New york that you can look out. You can also give me your suggestions in the comment box below. PS: This list is in progress and I update it every fortnight. Would you Like to list your App Development Company? Please do comment with your company name.

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