GeoDB: Empowering consumers through monetizing their digital data

Spain

5 min read

Feb 17, 2021

By Emanuela Ferraro

Image: Shutterstock

Consumers and businesses, and not just tech giants, should tap the value of big data too, says blockchain-based data trading platform GeoDB, which has raised £5.5m since 2018

Of the 2.5tn pieces of data generated daily worldwide, between 90–95% are wasted because most organizations don't have the resources to capture those datasets spread around the world, according to IDC. Big data is also a global market worth more than $200bn today, but largely accessed only by tech giants and companies that can afford the high costs of data mining.
“It seems unfair that the big data market continues to grow, taking advantage of the free data produced by internet users who are not fairly compensated as real owners of all this information as consumers," Luis Gelado, CEO a...

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Edited by Suzanne Soh, Bernice Tang

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