CASHING IN ON YOUR PERSONAL DATA

The Big Four are Stealing Your Wealth

If you browse on the internet you’re probably well aware of how your movements are tracked. One moment you’re looking at holidays the next that same holiday company follows you wherever you see an advert.

While we’ve long since accepted cookies and the like, the truth is that it’s not just digital companies that are making a fortune out of your data. Every hospital appointment, prescription, allergy medication or sexual health check is data that companies will pay good money to attain. Obviously, under privacy laws you cannot be individually named, but your habits and illnesses have a monetary value that corporations will pay to attain.

While data on its own isn’t intrinsically valuable. The sole reason that today’s biggest companies can derive so much in profits is really all about scale. For example, a company like Google uses much of the data they collect to operate the world’s largest advertising platform. The data they collect allows for meaningful and specific ad targeting, for which advertisers pay a hefty sum. An individual, however, couldn’t deliver such valuable data on their own; they’d need to pool their data with others to do so. Up until now, building an independent data marketplace of the scale that would be required to manage all user data everywhere on Earth would have been impossible. Then came the blockchain.

If every person worldwide had the ability to monetize their own data through a blockchain-based data marketplace, it would become a self-funding equivalent of a true global universal basic income system.

If we take healthcare specifically then these types of possibilities have already been imagined. Launched in 2016, CMDX has been busy creating the DNA of human information. In this membership-based community, members are profiteering from the joining of artificial intelligence to the blockchain.

After all, one of the defining features of blockchain technology is its immutable public ledger system. By applying such capabilities to healthcare, users can store information regarding their transactions as well as their health records including procedures, diagnoses, prescriptions, and more. Because such information is valuable for future services, electronic health records are prime targets for illegal practices such as data breaching and hacking.

However, by using blockchain technology, CMDX negates such possibilities. Additionally, in the future, the company plans to integrate a members identity with his or her H-Wallet. Thus, members can have instant access to their health records whenever or wherever the need arises. This also means they can choose who gets to see them and keep the profit when they decide to sell that information on.

The rewards in this sense come via the token (CMDX) which is given to each member when they fill out their HealthStyle Profile and enter a data leasing agreement with the company. There are plenty of methods to earn more and pay health expenses with your new found wealth.

It is important to realise that in the ‘crypto winter’ of 2018 CoinMD grew to more than 250,000 members while most of the cryptocurrency industry remained stagnate. For CEO Tom McMurrain, he is determined that this new wave of technology should help for good. He said, “The new brand of CMDX is more than health, it is about the DNA of your human information. It is not a re-birth but an evolution from an MVP to a Super MVP.”

Wherever you are in the world, with the population growing and healthcare costs exploding, the bottom line is that no traditional approach is enough to protect your retirement against the escalating costs of healthcare.

So, what can people do?

By using the new cryptocurrency called CMDX to pay for your health products and services (even in part) and becoming part of a membership network that links health providers to consumers is a smart move. The buying power of the whole community will lower health costs and the appreciation of the cryptocurrency will give members a hedge against future costs.

Over the next 5-years, CMDX intend to reach 100 million members worldwide, positively impact 100+ countries and become 100% decentralized (and employee-less) to emerge as the #1 health cryptocurrency in the world.

That might seem like a tall order but by combining Smart Contracts, Artificial Intelligence, Health and Cryptocurrency, CMDX has created an opportunity for people to be rewarded for living a healthy lifestyle and in doing so, compensated for sharing smart-currency around the world.

CASHING IN ON YOUR PERSONAL DATA
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