NOIZ Chain: The Evolution of Personal and Business Data into Secured and Monetized Digital Assets
With the proliferation of social media sites and applications where communication, data, and content sharing gets to be fast, easy and eventually monetized, the risk of personal and business data leak has also become imminent. Data and information breach and fraud has become bywords, thus the need for data and information security companies and custodian.
I recently met with Andy Ann, the CEO of NOIZ, a company that not only safeguards data and digital assets but also allows their owners to monetize them.
“NOIZ is a data custodian and digital asset transfer platform that provides consumers control over their data and privacy. This means having control over the media targeted to you online while also giving you the ability to monetize your data,” Andy says.
He further adds, “Using blockchain, NOIZ puts you in control of your advertising and content delivery. As a consumer, this means controlling your lifestyle data, which is a highly valuable digital asset that NOIZ enables you to monetize. For advertisers and publishers, control means pairing the right ads with the right content for the right audiences, making ad spend, ad creative and ad placement all more effective.”
I asked him about their ICO and he gladly shared these insights:
1. What problem is your ICO project addressing?
There are a few problems we are trying to solve.
a) Ad Fraud: It is a rampant problem in the advertising industry. Ad Fraud is estimated to be 19B USD in 2018 and will continue to rise. Many brands like P&G are demanding transparency in digital advertising.
b) Data Leakage: Data privacy is crucial and it should be respected. In 2018, over 600 data breaches, so far. 87M Facebook profiles. 9.4M Cathay Pacific customers. These are just some of the cases made public, there could be more.
c) User Rights: Consumer data is a major contributing factor to the growing net worth of many tech companies, but consumers see no return on data they create. Allowing internet users to monetize their data is a stepping stone to address the issue.
2. What makes blockchain the ideal technology for solving this problem?
Decentralized – Lifestyle data and other B2B digital assets are un-hackable, removing the risk of data breaches.
Cross-chain ledger – NOIZ consists of permission-based blockchain networks built upon multiple blockchain protocols, including NEM. This keeps personal/sensitive information from being visible on public chains.
3. Which key markets, industries or applications will benefit from the scalability of your technology or platform and how?
NOIZ will benefit Marketing industry a lot. Brands and publishers will gain transparency on their target audience, have access to meaningful data to measure their ROI. They will no longer blindly chase after the number of Likes or Impressions. Data will come in context and provide actionable insights. Hence, reduce the Marketing budget being wasted and gain reliable information.
4. What makes ICO or ITO the best way to raise capital for your blockchain company?
It helps build a community that shares the same vision with NOIZ. Also, it allows the project to have more freedom to focus on or reshuffle priorities.
5. What is unique about your token or coin that will encourage mass adoption and why?
Digital advertising is not a foreign new concept where people have no exposure to. Therefore, it is more easy for consumers to embrace. Hence a better chance of mass adoption. Furthermore, our team has extensive experience and connections in digital advertising and marketing. We already have established partnerships for NOIZ which makes it easy for us to roll out and encourage mass adoption.
6. What is the main challenge your platform is facing right now?
The lack of regulations and different jurisdictions have different rules make it challenging for us to operate.
7. What is the biggest win that your team has achieved so far?
We have successfully launched the first cognitive ad campaign for Orbis. To help Moonwalkers, their annual fundraising event in Hong Kong to raise awareness. Furthermore, we are the first in the Asia-Pacific region to launch a cognitive ad campaign.
8. What is the best advice you have received from one or more of your advisors and why?
If a token is taken away from the ecosystem and the project still functions it shows that a token is not necessary. This helps us to understand and build our product. To make sure we are creating something valuable and useful.
Disclaimer: David Drake is on the advisory board of this company.