Some thoughts on data economy, NFT

web3’s knowledge management is financial management

The second part is the recent thoughts on the combination of NFT and data. The second part is the recent thoughts on the combination of NFT and data. The readability is poor, and it is the kind of thing that will die if it is not sent out.

The first party
Private ownership of data

Collective poverty [1] is the idea that a small group of people take everything that includes what you and I produce, and we have nothing. Or most people are very equal, equal poor. For the 80s, 90s and 00s who have not experienced collective poverty, it seems like rural China in the 1970s to say that.

But it seems, we are also producing something every moment?

Some thoughts on data economy, NFT

In China in the 1980s, the rise of commercial private ownership allowed people to own cars, property, food and clothes that they produced themselves. People were beginning to be allowed to own a portion of what they produced.

Jennifer Zhu Scott in “TED – Why is data privatization important for pervasive AI? says that private ownership is a form of freedom that we don’t have.

What if we looked at data ownership from a completely different perspective? What if data ownership was actually private, individual, and economically problematic? What if, in the new digital economy, we were allowed to own a part of what we create and give people the freedom of private data ownership?

The vision of the data economy is one in which every data producer recognizes that he or she is “producing”, is “incentivized” in the process, and then “decides for himself or herself” what to do with it.

The importance of the data economy

Some thoughts on data economy, NFT

Previously data and artificial intelligence tended to accumulate in the hands of a few Internet giants, Ocean protocol aims to democratize the value of data and artificial intelligence (AI). In order to value personal, business and even city data. [2]

Individuals have no data ownership and no control over privacy

Lack of regulated portal, data is hard to price

Curated signal forgery

Fake reviews on Amazon or bot accounts on Twitter disrupting

Interoperability

Personal data, especially private data, is important for research (e.g. AI) and business decisions. But private data is in a shadow zone, difficult to access and easily leaked in the process. Blockchain and cryptography technologies make it possible to value personal data while protecting privacy.

Is Google what you need? What you need is “search engine

In the web3 economy, no single force is a single force. Any one service is no longer exclusive. A world with only one Google, one Facebook, and one amazon will exist alongside web3’s rich application components. The services of web3 are linked by token, and are connected to each other by token. You can authorize Swash to leave datasets (your search history) for using the decentralized search engine the graph, and automatically receive revenue, or choose to sell them on the data market. You will also receive airdrops, NFT incentives from affiliated projects for producing and contributing good data [3] to reward you for your contribution to the training of some AI models.

Ocean’s case study

Ocean protocol’s approach is summarized in two ways.

Cutting into the data economy through defi is actually more about getting the public to recognize that data is an asset

Direct discussion from the data level to create a data marketplace for data trading

The combination of ocean and defi

compute-to-data

According to McKinsey, AI will increase economic output by $13 trillion over the next decade [4], and data generated by individuals will undoubtedly contribute to this huge development. Specific practices of commercial companies, such as Microsoft’s decentralized collaboration program [5], incentivize them to contribute good data for use by AI models through data transparency and building strong collaborations with institutions/organizations.

ocean has created a data marketplace and enabled private datasets and algorithms to be securely traded with the support of blockchain through compute-to-data, a feature that has recently been integrated into the data marketplace.

*Compute-to-Data means that the data is at the owner’s place, the algorithm is sent to him by the demander of the computation, he accepts the algorithm, computes it at his place and returns the result to the demander, protecting data privacy.

Some thoughts on data economy, NFT

Application examples of ocean [6]

Second Party
Other possibilities

In addition to Ocean, which combines with defi and creates a data buying and selling marketplace, I am also thinking about the intersection of data with DAO and NFT.

Data DAO (dataDAO)

The context of DAO is currently limited to the financial sector, such as managing money with smart contracts, investment, etc. But at the end of the day, it’s about motivating a group of people with specific domain expertise to contribute their intelligence (collective intelligence). So I came up with the idea of data DAO – gathering a group of data scientists to do knowledge programming.

Some thoughts on data economy, NFT

There are countless practical software programs based on specific organizational knowledge classification and structure, as well as detailed logic containing data, information and knowledge programming, storage and retrieval. On the theoretical side, research papers such as robin cowan’s research paper “The Explicit Economics of Knowledge Codification and Tacitness” [7] is even discussing the economic feasibility of programming knowledge (attention) from 20 years ago (2000).

Some thoughts on data economy, NFT

What has not been done is to make these successful cases of mating theory with value networks, blockchain, smart contracts, decentralized storage will bring change. Of course, the scenario for this pop-up will be unknowable, will it be open recommendation algorithms?

My guess is that a variety of algorithms will be designed afterwards, mostly pricing algorithms, where the designer abstracts the corresponding code based on understanding the network structure of the database, variables, weights, and other relationships (after all, the theory is so diverse), and embeds it in a smart contract. The pricing can go according to each level, or each network node, and the user comes in and pays not only to get the data, but also to join the network (attenstation). There will be a/series of events to make this data curation thing profitable, perhaps as Bo Li said: web3’s knowledge management is financial management.

Some thoughts on data economy, NFT
Some thoughts on data economy, NFT
Some thoughts on data economy, NFT

tacit knowledge (to put the economics of tacit and codified knowledge together) [7

NFT+data

The extent to which knowledge (attention) is programmed is determined by the incentives-i.e., the costs and benefits of doing so. Storage and computation based on graph databases and smart contracts seems to have reached a tipping point for breakthroughs. — The Explicit Economics of Knowledge Codification and Tacitness

I sometimes think that this data economy form has already seen the first signs in NFT, just said the turning point, web3’s killer application may be: make knowledge (attention) management automatically become financial management applications.

With the combination of NFT and data, NFT serves as a vehicle for data valorization. As a vehicle to reward people’s attention, itself a card with #[[]]. Like the tacit knowledge mentioned earlier, or the active knowledge curation, it is the act of giving our attention.

To take the simplest example, in the future, you will be rewarded for bookmarking something with #[[]] – like NFT rewards (these rewards are more like doorsteps, like an advertiser looking for his 1000 followers).

NFT is a great medium to build a network of relationships, which I think even outweighs its financial properties (although many efforts are now dedicated to enhancing its liquidity and bringing it in line with financial commodities, defi). Most of the time, I decide to buy an NFT because I recognize that the work, the person behind the work, will bring me continued inspiration, and my attention needs to be “stuck” here as a node, so it’s the beginning of a relationship where you decide to keep your attention. What you are investing in is a relationship, building a network of relationships, not limited to financial investments where you have to calculate the rate of return all the time and buy and then think about changing hands.

Some thoughts on data economy, NFT

The world after capital
As I wrote in a previous thread [8], the thing I’m most interested in and want to see in the future is for people’s thoughts to bring direct value, even if it’s just pure curiosity and increasingly scarce attention. On the one hand, people’s attention must be “treated well” in some way, so that a virtuous circle can be formed and we can place our attention according to our preferences and autonomy (instead of being passive, addicted, manipulated, yes I’m talking about Shake). On the other hand, a good product should look for more matching attention to motivate 1000 true fans, not 1000k random doesnt care, and build and develop a relationship network on this basis.

Some thoughts on data economy, NFT

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/some-thoughts-on-data-economy-nft/
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