Companies, and social media platforms, particularly, Facebook, Twitter and others profit from your data by using it for commercial and research purposes. However, they do not share the value with you at no point in time. This phenomenon excludes millions of people from the rapidly growing data economy, which is worth over $1.7 trillion per annum just within G7 nations. All because they do not own their data, and therefore unable to leverage it for value.
Consequently, boundless quantities of unorganized user information are not accessible by individual and business alike. Most of the time, such data are kept from the public to benefit big companies, alas but not the general public.
However, Decentr promises to end such an exploitative state of affair, thus ensuring users profit from their data in a secured and immutable fashion. It is rooted in the belief that “Data is the new currency” hence people should be able to use it in exchange of value.
The project strives to achieve the ample prospect of the real data economy by establishing a secure, open-source platform that decentralizes contemporary centralized data exchange ecosystems comparable to Blockchain decentralize digital trades. In this mode, data can be securely stored, recycled and exchanged in decentralized and distributed form.
Decentr, therefore, affords a web browsing encounter that makes surfing the internet a value exchange experience where data becomes a medium of exchange. Eventually, the authority over data gets stripped away from governments and multinationals to come under the control of individuals.
How It Operates
Decentr improves your browsing experience with a suitable one set of innovations and devices consisting of online transactions know as dPay, plus a permanent and secure, digital ID and wallet called DecID or dID. Furthermore, there are decentralized communications, data sharing, and social media services also referred to as dNews, dChat and dPost.
Users become empowered to interact with each other and businesses, search and browse the internet through signing up to Decentr with the web browser. It is just like “wallet browsers,” which enables web browsers, like Chrome and Firefox, to correspond with the platform and different applications.
Decentr employs a decentralized Web 3.0 and 4.0 resolve for all its operations, whiles the user’s DecID is notified by the information and action recorded as data. It is for the efficiency of checking credentials and negotiating, with the stored data.
This feature is also responsible for later retrieval, reuse and exchange in any way a user wishes. Decentr accomplishes that by expediting among the native token of DEC, through the removal of economic value from user information into either fiat or virtual currency via Personal Data Value.
Features of Decentr
The platform has three distinctive features in its ecosystem. Let us take a brief look at each:
dLoan: It is the consumer Cryptocurrency loan, which is an answer that can be leveraged by established users who despite that fact that they possess meagre amounts of DEC token in their wallet. Also, the DEC can accumulate earnings through the investing pool, even though the per might have no precise Cryptocurrency and trading experience.
Cross Chain and Cross-Platform Protocol: As a chain agnostic protocol, all dApps interconnected by it interact with each other and share the PDVs of the users. Therefore, Decentr users can utilize other DeFi platforms to borrow or lend funds that have higher interests as a result of their superior PDV level. More interestingly, any DeFi project built on the Ethereum Blockchain can go into a partnership with Decentr for expeditious integration.
Decentralized User Layer (Web Browser): There’s a 100 per cent data flow in a decentralized style unlike what Blockchain and DLT offer, which are normally formulated for decentralized data storage. The platform’s user layer is innovative and 100 per cent secure, which is also an anonymous and decentralized alternative to interact online.
As a utility native token for the Decentr ecosystem, DEC is for various applications both inside and externally:
- A layer of communication linking fiat accessing and leaving the Decentr structure.
- A means to obtain the expense of user data and consolidates the pursuit of all players.
- DEC is moreover, for making payment (dPay), or borrowing and lending (dLend) which is a method to pin PDV to real value.
- A system to support the Decentr economy.
Join Decentra Community
Decentr warmly welcomes every individual to join their community, so together, the dream of achieving data independence and profitability will be a reality. Here are links to their various social media platforms: