HUDI has released the first report showing results on ‘data monetization’ in crypto, i.e. the data-based universal income experiment.
HUDI: first report on ‘data monetization’ in crypto
The crypto startup HUDI has released the first report on ‘data monetization’, the first experiment with universal income based on data, with users managing to monetize their data up to €10 per day.
“Arrivano risultati promettenti dal report sulla data monetization di HUDI, il primo esperimento di reddito universale basato sui dati”@Libero_official racconta i risultati ottenuti ad oggi da HUDI 🔥 articolo completo qui 👇https://t.co/GBM17kG1SF
— HUDI (@humandataincome) May 28, 2022
With over 240,000 users, including 11,000 Italians, taking part in the initiative, HUDI has released the first data monetization report on its first three months of operation.
In practice, HUDI allows people to regain control over their data and monetize it in exchange for the HUDI crypto. Through the platform, users can request their data from the various digital properties that have collected it (such as Meta, Instagram, LinkedIn, Amazon, Google, Netflix…) and deposit it in HUDI’s data wallet.
HUDI and the data market: 50,000 requests with €10 per day rewards
In this first quarter of activity, HUDI received 50,000 data requests, with a peak daily reward of €10 per user, and an average transaction of €0.40 per data set.
Human Data Income (HUDI) Ltd was founded in London by three Italian guys, Franky Ballarani, Andrea Silvi and Gianluigi Ballarani. In this regard, Ballarani G. commented:
“Data is the new oil, the raw material of the new economy, and it creates a trillion-dollar-plus market. But we, as data owners, have no control over it and are cut off from the profit”.
In this sense, HUDI functions as a data bank, where the individual user decides if and what data to share, with organizations that request it, in exchange for a royalty that HUDI redistributes up to 75% of the transactions to all stakeholders and 50% to the data owner.
Ballarani F. also gave his thoughts:
“These results have been achieved with a handful of data. We are just at the beginning. HUDI will disintermediate and democratize the data market, to the point where every person can cover basic living expenses, thanks to Human Data Income”.
HUDI’s price pumps 5% in the last 24 hours
Looking at the chart, the HUDI token price has pumped 5% in the last 24 hours.
As of today, HUDI is worth $0.42, still far from its ATH (All Time High) of $4.50 last November 2021.
According to general prices, HUDI follows the trend of major crypto such as Bitcoin and Ethereum. In this regard, BTC today presents the Fear and Greed Index from 10 (Extreme Fear).
Bitcoin Fear and Greed Index is 10 – Extreme Fear
Current price: $29,363 pic.twitter.com/1fP4LYjY6k
— Bitcoin Fear and Greed Index (@BitcoinFear) May 30, 2022
This is two more points of “fear” than at the end of last week, when it was calculated that BTC held $30,000 for 16 days. At the time of writing, the queen of crypto is back at 30k after a weekend in the red.