The Blockchain based answer to the professional data economy.
In the centralized data economy, digital service providers have historically been known as the gatekeepers of information for much of the business world.
The true value of the data gathered by these companies, such as Google or Facebook, wasn’t truly realized by the public and observers until these companies began to use the data to provide insights to partners and advertisers. This includes the provision of analytical services which utilize their vast interlinked network of related databases, along with self-learning machines, to provide predictions based on present and historical trends.
However, such volumes of the user and public information were not obtained overnight, and their acquisition would not have been possible without the services offering a highly competitive level of quality.
Trading Identity for Services
In return for access, users are required to sign extensive terms and conditions contracts, and due to the ubiquity of the services, most users are willing to agree without so much as reading them. As a result, the sovereignty of personal and sometimes private data has arguably shifted from the user to the service providers.
Additionally, these digital service providers and their users face frequent and considerable threats from external malicious actors, due to the amount of data available for duplication or editing.
There are many recent examples of centralized servers which have been subjected to targeted hacks, with some of the more infamous historical examples being Sony and LinkedIn. Personal users face the risk of having their payment details and passwords exposed. Even worse, public, vulnerable, or targeted individuals, run the risk of having identities or private activities exposed.
The same risks also apply to users of business-oriented services, but with far greater potential consequences. This is due to the number of people involved with, and affected by, the decisions of an institution, including employees, customers, and business partners.
The decentralized Blockchain-based solution
Profede is a decentralized Blockchain based solution which aims to resolve data related issues that business services and professionals face today.
First and foremost, in opposition to the current, centralized data economy, the team has decided to place a qualitative value on data, based on depth and quality. They seek to implement a robust system which gives the power of privacy to the user – rather than the centralized platforms owned by large corporate service providers.
Through the use of cutting edge encryption, Profede’s professional users can choose how much, if any, of their data they would like to share, and who with. Third parties can send requests to users for specific information from their profile.
These users can earn rewards in return for sharing this data, in the form the Profede’s proprietary token-based economy (PATO).
Conclusion: Another Industry Disrupted
Being a protocol, rather than platform-based ecosystem into itself, Profede can be employed by a variety of interested parties and seamlessly incorporated into existing systems.
The potential for massive disruption is widely acknowledged, with the team having worked in partnership with highly recognized organizations, such as beBee, a professional community for professionals with over 12 million users.
Use cases include the recruitment sector, as well as professional social media. In the case of the former, businesses who are seeking new candidates usually go through extortionately priced recruitment firms or middle-man recruitment websites. The Profede protocol will make solutions such as decentralized recruitment platforms possible, minimizing the expenses incurred by businesses whilst rewarding high-quality clients for allowing companies to headhunt them.
They have already secured an agreement with beBee, which is a disruptive form of professional social media, dubbing itself a “Collaborative platform for professionals”.
Profede is currently in its pre-sale period, you can find out more on their Token Sale by visiting their website or Telegram, or by reading their white paper. The hard cap is $20 mln, with the entire volume being 6 bln PATO.