BehaviourExchange three party ecosystem The
BehaviourExchange platform connects three parties in a smart and unique way: web visitors, websites and B2C businesses. We provide each of the parties with unique benefits:
1.
Media websites are offered a free service of content exchange, which results in a higher number of unique visitors for each participating website.
2.
Visitors immediately find a product or service that fits their needs and are not bombarded with irrelevant ads and content.
3.
B2C businesses understand who their visitors are in real-time and use our service to show every visitor the most appropriate product or service.
This is a fascinating diagram that shows how the metadata from news and social media and other websites you visit as well as from enquirers and purchased you make from businesses, all flows into a big central database where it is analysed and mined to create a profile of you that is used by the big centralised companies doing this metadata analysis now to make money selling ads per click. And there’s a strong incentive for the big online companies doing this metadata analysis like Google and Facebook, to find out and record every little thing about you so that the ads are targeted to likely interested people and there are more clicks on them and they make more advertising money - and we’re talking about a worldwide paid online advertising spend of 585 billion dollars in 2017 and rising
https://www.emarketer.com/Report/Worldwide-Ad-Spending-eMarketers-Updated-Estimates-Forecast-20162021/2002145The trouble with the current centralised model is that the user and consumer has little to no control of their personal information and metadata being stored and used by these big companies to profile them, and essentially make money from their personsal information! This personal information is actually o wned by the individual person, and should be private and only used with their proper informed consent and probably a share of the resulting profit one would think - but there’s limited or no consent and no profit-share! The security of a persons information and profile is another big concern of course when the data is kept on the centralised servers of these companies, that can be accessed or hacked by bad actors in many ways!
Behaviour exchange wants to change this situation using blockchain technology and smart contracts for the better in a number of ways, but especially by giving the user and customer complete control of their personal details and preferences and interests and their metadata - and if a person agrees to share this information to make web use as looking for goods and services better, then the person will be rewarded for their information without a middle man taking all the money. It might only be a hundred or so a year for the average user, but I think it’s more important that you are in control of your data that you own. And the security of your information is ensured by the decentralised way that Behaviour Exchange will store it using blockchain. BEX is a good project with a lot of potential in the areas it’s targeting!