Insights Network: A Platform Offering Data Monetization Opportunities

Project Reviews / 11.02.2021

Data collection, selling, and manipulation practices are on the rise on the internet today— some of the largest internet-based platforms are beneficiaries of data collection. Platforms collecting the information often track apps behavior from individual mobile devices. 

The information is collected without consent, and as such, to some extent, that is an infringement of privacy. On some occasions, hackers have been able to attack the information systems and leave with large private personal data chunks. What if there were a platform that provides sanction information from the owner? The Insights Network is launching with such solutions. 

What is The Insights Network?

The Insights Network platform is a blockchain-based network that provides its users with the ability to sell their information to sanctioned parties. Using this platform, large companies will not need to go through data brokers to access information; instead, they can link directly with users. 

The Insights Network is serving two types of users in the crypto world, requesters and providers. But who are these parties?

  • Requesters can be primarily defined as organizations or individuals who request data in the Insights network by leveraging the Instar tokens.
  • Contrarily, providers are the recipients of the requests and immediately work on reverting by providing the needed data. These providers receive their Instar rewards for delivering data.

Quality of Data in The Insights Network

Any organization or individual in need of data requires it to hit some of the following required expectations; 

Relevant

The information provided should show relevance. It should relate to a specific subset of people, either of different ages or areas of residence. Irrelevant information has no value. The platform and its data providers foster the relevance of data.

Trustworthy

The truthfulness of the data is also highly critical for the data requesters. The providers and the platform should institute policies to ensure the data offered is free from any fraud. Insights Network platform fosters fraud-free information. 

Timely and Convenient

The information requesters should quickly get the information they need from the providers without any worries. The data collected should be from the consent of the provider, and private information should remain private. Similarly, the providers should be able to earn from their data providers. 

Security of Information

Any data handled by the Insights Network ecosystem from providers to requesters should be highly safe. The platform can get on top of any security threats handling them without worry. 

The INSTAR ERC-20 Token

The Insights Network platform introduces its native ERC-20 token, dubbed INSTAR token, to power its activities. Token holders will get the option of placing requests to or sell the tokens. The original number of INSTAR coins in circulation on launch was  300 million tokens. 

Features of The Insights Network

The Blockchain

The Instar network introduces an EOS open-source software to provide developers and block producers with a top speed and free web.  

The Insights Network as an ecosystem provides transaction support between the parties dubbed providers and requesters. That’s called multiparty computation. They run a two-sided marketplace.

Instar for Consumers

The products introduced for consumers is the wallet option. There are two types of INSTAR wallets introduced for users, the Web wallet and Mobile wallet. The current mobile wallet is only available on Android, and users can earn by using the platform. 

Instar for Businesses

The Insights Network also introduces a businesses’ option to access a chain of private data from blockchain results. There are three unique options in the Instar businesses feature, aiming to ensure the enterprises maximize using the platform. 

Moreover, the network option provides ads and survey features, voice options, and listen to opportunities for employee engagement. 

The Benefits of Insights Network

The first benefit of the platform is the possibility of creating an account at low costs. Since the platform is independent and it solely supports itself, it will be offering free account creation. However, currently, the result of accounts costs between $5-10. 

Another benefit is the creation of a trusted user base. The quality of Data submitted in the networks is high, owing to the participants’ KYC verification

There is a secure multiparty computation designed to allow multiple parties to perform calculations while protecting information and releasing only the permitted information. 

The INSTAR tokens have a bolstered utility, allowing the users to vote on governance issues. That helps in the platform’s mission achievement and block production and earn rewards. 

Another great benefit of the platform is its excellent on-chain reputation by using rating options. 

Conclusion

Although data selling practices are continually gaining traction today, the security implications and privacy infringements are a concern for all internet users. Insights Network, however, redefines the information selling practices declaring data brokers extinct. The information owner gets the right to choose. Who can buy their information and who can’t, and they are compensated handsomely for the info. 

This platform introduces a world of features, a blockchain, a user-friendly wallet, a networking option for businesses, and a marketplace. It has its token dubbed INSTAR token, one used as the utility token in the platform. 

Its benefits include trust, convenience, security, reliability, and ultimately a good investment prospect. You can now take advantage of this platform as the internet world struggles to migrate from the data broker’s systems to a more privacy-focused system. 

Adam is an outgoing young lad who likes adventures and discovering new things. Despite his boring life, he loves writing about cryptocurrencies and exploring what blockchain technology can do for the coming digital world where all adventures will be virtual.