SNGLS: If data is the new oil, then why I am still broke?
In the modern media and entertainment industry, there are clear cases in which masses of data are being extracted and commodified. Netflix has been a pioneer in this space, using complex algorithms to decide which shows or movies to suggest to individual users, and aggregating these preferences to select which shows are commissioned in the first place. For viewers this is a positive feature: personalized recommendations are a key part of the user experience, and the platformâ€™s content development strategy has largely paid off.
But the losers are the smaller independent filmmakers, who donâ€™t have access to the kind of complex analytics used by Netflix, Hulu and others, and so struggle to capture the finer details of how audiences are reacting to the content they create.
Thatâ€™s where blockchain-based platforms like SingularDTV come in. Counter to data harvesting practices at Facebook, Google, and the other tech giants, SingularDTV will by default collect only the minimum amount of transactional data needed to operate the platform, with further exchanges of personal and demographic data being opt-in or opt-out on the part of the users. Opting inâ€Šâ€”â€Šwhich can also be done in an anonymized wayâ€Šâ€”â€Šopens the possibility of a future where fans can share data about their preferences directly with the artists they admire, helping level the steeply sloping playing field which the media streaming giants dominate at present.
Weâ€™ve taken on the mission of building a new media platform based on respecting usersâ€™ right to own their own data and decide how, when and with whom to share it. We think itâ€™s important for the future of media, and the health of the internet more broadly. Though data is not the same as oil, for both resources the threat of monopoly stands in the way of consumersâ€™ best interests; thatâ€™s why individual choice, and control over our own data, is a cause worth advocating for.
Original article was created by: SNGLS at medium.comDisclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.
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