Web3 Platform Pool (web3) is developing a crypto-based market infrastructure and application tools.
Pool Data, who helps people monetize their data for tokens and cryptocurrency, has recruited former presidential candidate Andrew Yang as an adviser and released a new suite of Web3-focused data marketplace tools.
Pool Data connects their market infrastructure, composed of payment rails and a consumer-facing app, with the USDC. Pool Data’s goal is to be a foundational layer for the data unions gaining popularity. There are next to none in this space that can scale without Pool Data’s assistance–they can’t handle millions of small payments for individuals who earn data.
Yang, who is the founder of the Data Dividend Project, is closely aligned with the push for accessing and owning data on a decentralized web. This can result in legal rights to owning data like the California Consumer Privacy Act.
Andrew Yang, a presidential candidate, has taken an approach to data control and monetization that is different from the way others have approached it. Malik said in an interview, “We’ve seen over 120 share-to-earn data unions pop up, some of them with tens of millions of active users. Andrew has already taken a legalistic rather than a tech approach to data control and monetization so Pool Data is a perfect project for him to support as a base layer rather than backing any particular data union.”
Individuals are outgunned by tech companies, but the data economy is on the verge of a major shift.
“It makes sense for consumers to come together and form strong, collaborative data unions that can reduce the power large companies have over their data. I really like Pool Data because is provides the tools needed to provide data security for consumers.”
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