During our recent visit to Starfish Mission, we spoke to some of the most impressive and innovative blockchain startups coming to market today. One of those was Lumeos.IO whose founder and CEO Ali Ayash gave us the scoop on how the company plans to use its blockchain technology to allow individuals to protect and monetize their own data and earn Lumeos tokens in the process.
While still working at Google, Ali felt an inclination to learn about blockchain technology so he invested in bitcoin as a start. His interest in decentralized ledger technology grew and he soon realized the underlying tech foundation was similar to building the distributed systems he had been working during his time at Google and Amazon. In an effort to fully explore blockchain he participated in a small workshop, built a smart contract and deployed it successfully. Soon after he left Google and cofounded his first company called Bee Token, a decentralized home sharing network that raised $15 million through its ICO.
Through his experience with Bee Token and watching the development of blockchain, Ali realized that this technology could help people make a passive income simply through a continuation of their normal data sharing activities on big online platforms such as Facebook and Twitter. Lumeos was born out of his desire to combine blockchain with data sharing to create something that offers users full protection and ownership of their data, along with the opportunity to monetize on vs. the larger platforms that own their users' data and monetize it without anything going back to the original user.
The current model of data sharing is that users will provide their data to monoliths like Google and Facebook who can sell their data to interested third party buyers. But now, thanks to decentralization anyone can fully own their shared data by putting it on their own personal digital wallet on the chain and protect it with their private key
Lumeos' focus is on data ownership and the fact that every individual has the the right to own and have full control over their data. Lumeos' wants people to continue to use Facebook, Google and other big platforms, but authorize the Lumeos to collect their data and sell it on their behalf to interested advertisers, so that anyone can make a passive income just by continuing to do what they are doing anyway when engaging on social networks.
In August of this year, Lumeos kicked off its beta with the Lumeos app for iOS and Android. The beta went well and the team is working to have the app approved on the app store, which should be coming very soon! Users who download this app can back their data on the blockchain and start monetizing it immediately.
Throughout the rest of the year, the team is focused solely on growth, expanding its ambassador program and continuing to educate the market data ownership and user empowerment. A big part of Lumeos' growth strategy is focused on the college demographic, and through their ambassadors inform students about blockchain and how important and valuable their own data is in order to get more people interested in the blockchain, data privacy, and ownership.
This conversation was another enlightening view into the future and infinite possibilities blockchain technology offers. Ali’s mission to empower us to own and monetize our own data has the power to truly revolutionize the way people make passion income. Have a listen here and you can check them out on their site and social channels, Facebook, Twitter and Telegram.
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