In the last month the news has been blowing up about Facebook and their use — or rather misuse — of user’s personal data but many people don’t know how they can do anything about it or don’t really know how valuable their data actually is. Some estimates put a conservative value of about $250 per person per year on personal data and when you think about how big marketing companies use it, you can understand why.
The Product
Algebraix Data is based in Austin, Texas and is using the blockchain to create a secure, permission-based ad network platform. The Algebraix platform is currently in the beta testing phase and looks set to revolutionise the way people think about their personal data by facilitating storage and ownership using blockchain technology. Individuals using the app can own and be rewarded for sharing their data, selectively selling it to advertising networks in exchange for ALX tokens.
The personal data in question comprises of a wide range of data points and information sources including personal history, interests and preferences, personal documents and credentials, health information, digital possessions, financial data, titles, memberships, and purchase history, among other things.
The Token
ALX tokens are currently ERC20 tokens built on the Ethereum blockchain but Algebraix intends to launch an independent blockchain after initial product development. There will be a total supply of 100 billion ALX which are pre-mined and distributed according to a pre-defined schedule including a pre-sale that was held in October 2017.
35% of the total supply is available during a public crowdfunding campaign although, due to being based in the US, the crowdsale is in the form of a SAFT for accredited investors only. The team looks to have an extensive background in big data, advertising, and blockchain and are very capable of seeing this project through to completion.
For more information on Algebraix and the ALX token sale, visit Algebraix.io and check out the whitepaper. The website is looks professionally designed and is easy to navigate which is always a good sign with blockchain start-ups. For any questions about the project, the team can be contacted directly via telegram. Alternatively check out the ANN and Bounty pages on Bitcointalk forums.
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