The Trillion Dollar Data Question

Are you aware that data has become the world’s most valuable resource?

Ah!.. they’re still very busy chatting!

Is data truly the new oil? That’s the trillion-dollar Data Question...

Well, it depends on where you look or who you ask… according to chief data scientist Clive Humby, a UK Mathematician … universally credited as the first person to coin the phrase: “Data is the new oil. It’s valuable, but if unrefined it cannot really be used. It has to be changed into gas, plastic, chemicals, etc to create a valuable entity that drives profitable activity; so must data be broken down, analyzed for it to have value.”

And…

Here’s how Tech-Giants does refine our data for it to be valuable in the marketplace:

According to the New York Times “a political data firm (Cambridge Analytica) hired by President Trump’s 2016 election campaign, gained access to information on 50 million Facebook users as a way to identify the personalities of American voters and influence their behaviour”.

There you have it, data has become the new oil! Which elucidate the rise of freebies in exchange for personal data. After the Facebook and Cambridge Analytica data scandal, people around the world became very much concerned about the malevolent use of their private data.

Everywhere I go, people are apprehensively searching for a secure form of transacting or private communication point. My own personal quest for freedom finally stumbled upon such a solution via TELE Network.

Before I tell you about TELE Network and its anon P2P technology solutions, may I emphasize that decentralized data management is very significant in today’s world, where personal data is being embezzled by the centralized networks who are systematically stealing and selling our private data without our consent.

To change this, projects like TELE Network must be created and implemented.

What is TELE Network?

TELE analysis

I consider it compulsory to break things down for better understanding and to give a genuine review of the project.

According to the TeleCoin website, TELE (for short) has been established to advance the security and privacy of transfers and transactions in today’s great digital risk, and to provide users freedom and fair governance.

TELE team also believe that “the risks in our digital society stem from the excessive amount of personal data attached to the conventional, centralized third-party verification cycle, most transactions subscribe to”.

With that out of the way, let’s start digging;

TeleCoin is a decentralized privacy network which utilizes Proof of Work and Proof of Stake protocols with master node capabilities, basically, a hybrid blockchain built from Bitcoin security innovation and privacy networks namely Dash and PIVX. The goal is privacy, secure transactions and interaction.

The TELE Network wallet is highly fortified with the following innovative features: Payment Obfuscation, SwiftTX transactions, In-Built Block Explorer, Staking and master node just to name a few.

As a master node capability network, TELE promised a fairer reward. At the present, most networks are offering a 50/50 split for master node rewards, Telecoin offers 60/40 spilt giving their supporters lion’s share to host master node, which is one of TELE’s distinctive ways of showing love to the pillars of the network.

After the on-going IEO, the TELE team said will develop a secure blockchain mobile phone and network for private communication that will enable encrypted calling, messaging and file sharing and the Trend-Setter platform, more on this below.

You can find out more about the TELE IEO here.

To further engage the community and to enhance the network native token (TELEX), the team is proposing the Trend-Setter Platform.

What is Trend-Setter?

Yes! I like incentivized socialization.

Trend-Setter is basically a micro-transaction affiliate network reward platform targeted to the marketing industry.

As I understand, this project is a kind of a new generation decentralised system in which people can earn rewards by performing micro-tasks listed by organisations and individuals, using TELEX as the incentive for organic referrals. Furthermore, the system is also well equipped with a high level of blockchain data protection and security.

Tasks are very diverse on this platform and everyone will find something for themselves, the targeted campaigns include: Internet Deals, Subscriptions, Retail, Advertising, Gaming, Social activities such as; Retweets, likes and follow, Facebook & Instagram likes and share, and but not limited to YouTube likes and views, etc.

I hope to see this project come to fruition sooner than later, though timing depends on the outcome of the IEO. Talking about post IEO projects — TELE-FONE is my favourite, perhaps it’s the most important project on the TELE Network at the moment.

What is TELE-FONE?

I am the sole custodian of my data

Tele-Fone is a secure, decentralized mobile phone that gives users the capability to not only control crypto assets via built-in cold storage but also the facility to store personal data or files and information directly onto the blockchain.

Tele-fone also allows users to restrict, control and manage these abilities within the phone. For all I care, a fully decentralized blockchain phone is the only solution for personal data protection.

Some traditionalists may argue otherwise since we already have good phones, that can easily enable data protection and our private data will sing kumbaya in privacy.

Well! The sad reality is that those good phones with the so-called “data protection” enabled, are still subject to censorship and surveillance, and remained a product of data, under the control of same tech giants who are in the habit of harvesting and selling our private data, to the highest bidder!

Piero Scaruffi, cognitive scientist and author of “History of Silicon Valley”, 2016: Put it this way, — “The difference between oil and data is that the product of oil does not generate more oil (unfortunately), whereas the product of data (self-driving cars, drones, wearables, etc) will generate more data (where do you normally drive, how fast/well you drive, who is with you, etc).”

Digital footprint

We live in a world where each person leaves a digital footprint at every move. For that reason, such decentralized mobile phones are required in today’s society. In other words, with Tele-fone no more big data surveillance schemes. Thanks to E2E encryption + TELE Network!

The rapid popularization of the Telegram app, which also offers a high level of data protection, indicates that such a decentralized blockchain mobile phone can easily gain popularity within a short time.

Conclusion

We have to choose between a centralized system that is subject to a single point of failure and a decentralized system with a high level of protection and financial inclusion, thanks to the blockchain distributed and consensus model.

Everytime I reread TELE’s whitepaper, I find something new that opens my eyes the more. I just discovered that “WhatsApp” has backdoors that directly compromise its encrypted security. Where.. is that.. end to end.. encryption?

If you want to read more about this project, the relevant links are below. Do your own research about this project and let me know what you think in the comment section.

TELE Website or Whitepaper The ongoing IEO

This is a sponsored article written for a bounty reward. Bounty0x profile: bitbounty

Author, Entrepreneur and Blockchain Enthusiast.