More than two hundred and forty thousand (240.000) users worldwide have participated in Human Data Income (HUDI) initiative. The platform allows people to offer their data for sale in exchange for cryptocurrencies. The first HUDI data monetizations resultsare promising: a user manages to monetize his data for up to $10 in one day.
“HUDI will disintermediate and democratize the data market, to the point where every person can cover basic living expenses” Franky Ballarani”
HUDI is a crypto startup founded in London by three Italians: Franky Ballarani, Andrea Silvi and Gianluigi Ballarani. HUDI allows people to regain control over their data and monetize it in crypto ($HUDI). The idea of a universal basic income (UBI) is not new, but this is the first UBI empowered by the data economy.
“Data is the new oil, the raw material of the new economy, and it creates a trillion-dollar-plus market. But we, as data owners, have no control over it and are cut off from the profit”, comments Gigi Ballarani, professor of Digital Marketing & Crypto Strategy at the University of Pavia and co-founder of the project.
HUDI works as a data bank. Users can retrieve the data that companies have on them, deposit it in HUDI’s “data bank”, and share it with organizations for a profit. HUDI recognizes a 50% fee to the data owner.
“These results have been achieved with a handful of data,” claims Franky Ballarani, co-founder and CEO of HUDI. “We are just at the beginning. HUDI will disintermediate and democratize the data market, to the point where every person can cover basic living expenses, thanks to Human Data Income.”