The internet is an amazing ecosystem that promotes greater human advancement and expression, but there are also many drawbacks to this technology that are still largely unaddressed. The largely unregulated market for online information is growing, with web users losing more and more control over their data as the data duopoly (mainly Google and Facebook) becomes stronger. Fractal wants to create an internet ecosystem where users have full sovereignty over their data and have the choice of whether or not to exchange it with third parties. Data duopolies have designed the system around free products and services in exchange for user data.
With online news, social media platforms, and other internet networks becoming more pervasive in everyday life, these ‘free’ sites are collecting user data to repackage and sell them to the highest bidder. Many do not realize this, but typically when a digital product or service is free, it means the platform is collecting and selling user data in order to generate revenue. As the saying goes, there’s no such thing as a free lunch.
Using blockchain technology, organizations like Fractal have redeveloped the online profit generation model, offering services without having to tap into customers’ data. Fractal is creating a new privacy layer for the internet, one that enables the transparent exchange of user data for tangible value without compromising individual privacy.
Elimination of Advertising Fraud and Immoral Business Models
Fractal is working to tackle a massive problem, as corruption within the Ad Tech industry is rampant. Considering that two key players dominate the market, Google and Facebook, and that a third of all Ad Tech costs are unattributed, it is clear that the industry needs a shakeup. Fractal’s platform defines a basic, open-source standard for data exchange that doesn’t favor trillion-dollar firms like Google’s parent company, Alphabet Inc, or scandal shrouded Facebook (e.g. Cambridge Analytica scandal).
Instead, it offers a fair and open market to ensure the best possible outcome for users, advertisers, and website publishers without any party having to compromise. No longer will users get taken advantage of and stripped of their privacy in the name of advertising revenue for the data duopoly.
Fractal has been in operations since 2017, generating a loyal base of over 400,000 community members and fostering partnerships with some of the biggest names in crypto such as Ocean, Polymath, and Polkadex. Fractal launched its network utility token, FCL, on February 25, beginning a new era of greater community control of the platform. Alongside the distribution of FCL, Fractal is preparing to launch the first version of its open source protocol, replacing ‘cookies’ or trackers that monitor a user’s internet behavior across websites.
By eliminating cookies, users will no longer have their data unknowingly mined and exploited without their knowledge. Instead, advertisers will have to compensate users (not data duopolies) who decide to give away their valuable data. This creates a much more transparent and healthy relationship between advertisers and website users.
Advertisers will no longer have to walk the line between regulatory compliance and data conversion, as there is now a clearly defined market accessible to all parties involved. By revamping the Ad Tech ecosystem, Fractal can give users and advertisers access without having to compromise on business model integrity.
A closer look at Fractal’s roadmap shows additional third-party integrations, the launching of data staking opportunities, and Fractal’s TestNet launch in the Summer – to name a few. In recent weeks, Fractal has announced a partnership with eyeo, the makers of Adblock Plus, to create a new standard in the ad market. Since completing their IDO, Fractal has launched on Uniswap and is eyeing a centralized exchange listing in a few months.
Disclaimer: The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space. This article is informational/educational and does not represent financial advice.