We are introducing a brand new model of sharing in the rewards of the data economy, and we’ve called it Consent-to-Earn, or C2E. But what does it mean to consent to earn, and why did we create it? The amount of data collected every year is expected to rise exponentially and reach 175 Zettabytes by 2025, according to the International Data Corporation1. This expected increase is a consequence of the rise of new technologies that are able to capture and analyze data. There’s also an enormously-growing demand from businesses, which are developing the abilities to use these to refine their marketing strategy, get an edge over their competition, and even to sell them to third parties for their own profit.
As regulations and discussions with stakeholders struggle to keep up, in the last decade several scandals caused by the misuse of personal data by private companies have come to light, as we have analyzed in our article “Is my Personal Data private?“2 . The common thread of these scandals is that individuals are not aware of the use of their personal data, and are being completely excluded from the data market. We believe there’s a better, and more equitable way. A way in which everyone – especially those providing this valuable resource – have a seat at the table.
Unlike other earning models such as Play-to-Earn or Move-to-Earn – which require an initial investment and a daily commitment of several hours by their users to recover the initial investment and hopefully make a profit – the Consent-to-Earn model does not require any initial investment, nor continuous participation or input from its users. Instead, it empowers users with the possibility to actively join the data economy by enabling them to give their consent for their medical data to be used by researchers in just a few clicks.
Consent can be revoked at any time, but by maintaining active donor status they are eligible for sustainable and potentially significant rewards. In short, people will simply need to consent to earn from their data, safely and privately. Consent and data operations are recorded on distributed ledger technology, providing a transparent system that eliminates the need for trust. It does this by proving with mathematical and verifiable certainty whether someone has given, not given, or revoked consent to the use of their data.
Why we created the C2E model
Data Lake is an EU-funded startup building a global medical data donation program. There’s a huge blockage right now holding up progress in modern medicine, and that’s legal access to high-quality and representative data. Just like donating blood, giving your medical history to science can be crucial in finding new cures and treatments for diseases, as well as for training the new medical AI algorithms that are already saving lives by diagnosing cancer, as an example, much earlier than humans can.
To give researchers access to data while respecting privacy and data laws such as the GDPR, we’ve created a system that allows individuals to give the consent over the use of their medical data either in person or by signing a transaction on the Polygon blockchain. We then collect and anonymize the medical data from the patient’s healthcare provider, and make them available in the form of large anonymous datasets to anyone performing legitimate research and development.
We used web3 technologies because we believe everyone should have the opportunity to participate in such an important program, no matter where they are in the world. Our token acts as a global rewards points system, and in the future will allow people to access popular healthcare and wellness products and services.
Find out more about our Consent-to-Earn (C2E) model by reading our front-page featured article from Bitcoin News: