On Friday, over 20 businesses worldwide announced the creation of the Data Privacy Protocol Alliance (DPPA). The DPPA hopes to build a decentralized blockchain-based data system that can compete against data monopolies like Facebook, Google, and a few others by giving users control of their data. According to the report, the DPPA will develop specifications and guidelines for a version of CasperLabs’ layer-one blockchain for sharing, storing, owning, and monetizing data. As a proof-of-stake network, the Casper Network allows businesses to build private or permissionless applications. It also offers upgradeable smart contracts, the ability to support scale, and predictable gas fees. An initial proposal was made at the founding members meeting on May 4 by the head of product at DPPA founding member BIGtoken, Ivan Lanzano. According to Lanzano, any system should include supporting tools like a data wallet that allows users to control their data and monetize it. He also said that this system should consist of non-commercial data sharing and storing capabilities. Data privacy systems – according to Lanzano – should allow commercial users to verify, onboard, and handle large data sets. A recent survey from BIGtoken shows that 78% of the 35,000 consumers queried expressed concerns about their data privacy. Founding members include privacy advocators, data aggregators, brands advertising platforms and agencies, and are located in the U.S., Singapore, Israel, and the U.K.
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Source: https://www.blockleaders.io/digital-asset-insights-15/
