Data is now a trillion-dollar industry, where most of it is harvested, siloed and monetized by large tech companies, leaving the user out of the value equation.
While data privacy is an increasing concern, partly due to the way data is held (and occasionally lost) by centralized corporations, data is undoubtedly the asset of the future as the world continues to become increasingly digital. And that’s why data-powered digital advertising still powers the internet.
Michael Luckhoo, co-founder of the Cirus Foundation, shares their view on how data should be protected, why the ownership economy is gaining momentum, and what Cirus has to do with it.
1. Could you share the initial idea behind Cirus?
Cirus gives control and ownership of their data to the user and enables them to earn directly from it. Our main goal is to make sure the user benefits directly from the data they generate and is included in the value equation. This is step one in expanding the ownership economy and advancing data’s evolution as an asset class.
2. Why are the ownership economy and data ownership concepts so important? How do they fit into the current progress of the platform?
Decentralization was one of the original premises of the internet. It’s moved through different iterations over the years into the Web 2.0 world we see today: many benefits, more connectivity, but also huge drawbacks, including centralized platforms with monopoly-like power in data markets, playing an imposing role in interactions between users.
The promise of Web 3.0 is a system where users are active participants rather than a resource to be exploited. As the world becomes more digital, data will play an increasingly important role. And while this shift is happening, individuals need to be empowered with the tools needed to play in the new economy.
3. A month after the launch, walk us through the platform’s progress and announcements.
It's been an exciting month! We brought on Finis Conner, founder of Seagate Technologies and Conner Peripherals. We also announced our first ISP contract with D-VoiS for our hardware device rollouts. Finally, in late September, we opened the door to signups for phase one of the Cirus platform - Genesis.
Genesis - a beta version for early adopters and expect to have that ready on schedule in Q4 of this year. The waitlist is live and people can join it to get updates about our pre-launch.
4. What is the ISP contract with D-VoiS and why is it important for the platform? Any further plans for hardware expansion?
One of the most effective ways to close the adoption curve is by using common experiences that enable people to use crypto in their everyday practice without requiring them to learn new behavior.
We’ll be supplying the routers to D-VoiS’ domestic Indian customer base. This translates into approximately 5 million users in the Cirus Ecosystem from router deployments alone (not including users who join the platform for the web-only experience).
This integration will be a huge boost for adoption in crypto and we’re starting out in a growing market where demand for high-speed in-home internet is rapidly expanding. Beyond D-VoiS, we intend to continue pressing ahead with this rollout strategy.
5. What are Genesis, Alpha, and Everest?
Genesis, Alpha, and Everest are the first three stages of our product rollout.
Genesis opens the door for early adopters to plug into the Cirus Platform and contribute towards network development through staking and other features.
Shortly after Genesis, Alpha will unlock data capture and data monetization through a browser extension and provide insight into your browsing trends over time. In addition to the browser extension, users will have real-time access to their dashboard through the Cirus Mobile App.
Everest is the third step and probably the most anticipated within our community. At this stage, users will be able to integrate the Cirus Device, which complements the platform and boosts their data earnings by connecting IoT devices and expanding the horizon on what data could be collected and monetized.
The end result is the user who is in control of monetizing the highest-quality version of their data asset available anywhere. More accurate insights and higher quality data is much more desirable in the adtech world, which results in more earnings for the user.
6. Anything planned after phase three so far?
Right now, the team is very focused on bringing the current roadmap to fruition. Once that is accomplished, Cirus and our users will be on a very solid base from which we can begin to expand beyond just data monetization and explore further applications for data as it matures as an asset class, especially when combined with blockchain technology.
We also think that NFTs could represent the next phase of data’s evolution. What better way to store a unique digital representation of yourself than an NFT that dynamically updates and allows you to move it between ecosystems as a form of digital identity? This could add a much-needed layer of security in Web 3.0 applications, where Privacy is key, but some trust or verification is still required.
This would open up a whole host of opportunities beyond just digital identity, with lots of derivative functionality. We are building the Cirus Ecosystem with the future in mind, and everything we do is to move the ball further down the field toward that future.
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