Users of the GeoScan app will earn crypto rewards when they share their shopping records.
The peer-to-peer decentralised data-sharing ecosystem,GeoDB, has officially released its first incentivised data-sharing application. The app, named GeoScan, is a crucial achievement in GeoDB’s quest to make people earn rewards for the data they generate.
What Is The GeoScan Application?
GeoScan is an app that enables users to anonymously share records of their shopping activities and earn GeoDB’s native token, the GEO. The app was developed in conjunction with AboutGoods Company and is available on Android and iOS mobile platforms. In its pilot phase, the use of GeoScan as an earning app will be initially available in France only, but will spread to other countries with time.
How Does GeoScan Work?
Using GeoScan is quite simple. Users only need to take a snapshot of their shopping receipts and consent to share them. When users share the data, their profile data with the receipt is anonymised by GeoDB and forwarded to AboutGoods. AboutGoods will then analyse the data using Artificial Intelligence. Once the data is verified, the data owner will receive their rewards in the GeoScan app.
Additional information about GeoScan is contained in this official announcement.
Brief Overview Of The Data Mining Industry
The data mining industry is generally unfair to the people who produce the data. Many activities we do online generate data that data-brokers sell for profit. For instance, consider the ads that are displayed when browsing on our mobile phones. Many of such ads are specific to your location. Invariably, data about our location are harvested from our devices and sold to third-party firms that send targeted adverts. Data-brokers are paid for the data, but more often than not, those who generate the data do not get anything in return.
The vision of GeoDB is to correct the unfair imbalance in the data-mining industry. The GeoScan app is a big step in the realisation of that objective.
GeoDB is a peer-to-peer data-sharing blockchain protocol. The platform was founded in 2018 and incentivises sharing of data by users. GeoDB initially launched on the Ethereum network but has expanded onto the Binance Smart Chain.
Source : bsc.news
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