Why build a Smart Data Ecosystem?

Because the big data era has concentrated the value of data in the hands of a few people. On the one hand, it is difficult to extract the full value of the data created online, and also difficult to regulate. Data trading has taken place in a gray area for years. On the other hand, those harvesting and collecting data are not trusted. We’ve been selling our data without realizing it while using the convenient and free services provided by giants like Facebook.

The combination of big data and Artificial Intelligence (AI) is bound to be a source of potential benefit and also danger. Big data itself is neutral. It lies there like a powerful weapon that can be used to keep the peace or to destroy the world. But artificial intelligence magnifies the power of weapons and then things can get out of control–for example, there are numerous instances of the abuse of data. We have seen the use of big data to interfere with the U.S. presidential election. Centralized AI may even replace humans in the future as some experts expect. Therefore, AI should not be applied to large data directly, but applied through the blockchain, a trusted system that protects privacy, to locate the value in every piece of data and build an intelligent data sharing community.

The Internet as it is cannot guarantee a more evolved data sharing community. This can only be realized in the next iteration via blockchain. We live in an age of information and data economy, in which each unit of data created makes value. In the future, everyone may well have their own AI, instead of a centralized AI across the whole network. Everyone’s AI will make full use of the value of their own data, helping them fulfill an array of needs while adding benefits–from smarter shopping to getting rewards by sharing data. Meanwhile, blockchain technology will guarantee the privacy of data in the whole process.