III. Problem & MAIN Solution
3.1 Problem
A handful of tech behemoths — Google, Facebook, Amazon, and others — have gained unmatched control over large amounts of personal data. This centralization has created de facto data monopolies, granting these entities disproportionate influence over user information and, by extension, user behavior and market dynamics. Also, it's often impossible to verify the origin and authenticity of data being traded in current marketplaces.
The centralization of user information by major tech corporations, often accompanied by confusing data practices/policies, has led to several critical issues:
Data Breaches: The exposure of sensitive personal information to unauthorized entities has become alarmingly common. In 2021, the average cost of a data breach reached $4.24 million, highlighting the severe financial and reputational risks.
Lack of Transparency: Users are frequently left in the dark about how their data is collected, processed, and shared, eroding trust and leaving them vulnerable to exploitation.
Limited User Control: Current systems offer minimal control to users over their personal data, often storing and using information without effective consent management options.
Inequitable Value Distribution: Despite the immense value generated from personal data, users rarely receive fair compensation or benefits, while tech giants reap substantial profits.
Simultaneously, billions of people have become dependent on social media and web services for their basic needs - communication, entertainment, and information.
The average American now spends 2 hours and 27 minutes daily on social media and web services, with 47% of adults getting news from social media platforms” - Pew Research Center Surveys claims.
While these platforms market themselves as “free”, we recognize they extract a steep hidden cost: our personal data. They convert our behavioral information into profit through targeted advertising, often crossing ethical privacy boundaries and not accounting for the original data source remuneration.
In 2019, Facebook paid a $5 billion FTC fine for deceiving users about their ability to control private information.
TikTok paid $92 million in 2021 to settle lawsuits over collecting biometric data without consent.
In 2022, Meta was fined €390 million by EU regulators for forcing users to accept personalized ads.
3.2 Solution
Building upon these core innovations, MAIN created the first decentralized zero-party data marketplace delivering tangible benefits to all stakeholders in the data ecosystem, revolutionizing how consumers and brands interact with and derive value from personal information.
By offering consumers true ownership and monetization of their data, providing businesses with a cost-effective loyalty solution, and giving advertisers access to high-quality, ethically-sourced data insights, MAIN is creating a win-win-win scenario for all the stakeholders.
For Users:
Complete ownership and monetization of personal data
Granular privacy controls, consent management, and selective data sharing
Simplified, unified digital identity across services
For Brands/Advertisers:
Access to high-quality, explicitly consented user data
Enhanced predictive analytics and customer insights
Free loyalty and rewards infrastructure
For the Entire Data Ecosystem:
Transparent, ethical marketplace for data exchange
Improved efficiency in data sharing and monetization
User-centric model promoting equitable data practices
3.3 Core MAIN Components
MAIN App
Social and gamified experience for mobile users to manage and monetize their online data
Real utility through points and rewards that are unlocked through engaging app activity
Easy & intuitive mobile UX with powerful tech hidden behind
Integrated crypto wallet supporting MAIN Coin and other cryptocurrencies
Peer-to-peer payment capabilities with negligible transaction fees
Single sign-on functionality for seamless access/log-in across multiple platforms
Social features fostering community engagement and content monetization
Zero-Party Data Marketplace
Facilitates transparent and fair data exchange between users and businesses
Emphasizes explicit consent and high-quality, user-provided data
Enables direct monetization of personal data by individuals
Decentralized Storage Solution
Leverages IPFS (InterPlanetary File System) for distributed, resilient data storage
Implements end-to-end encryption to ensure data confidentiality
Guarantees data integrity and availability while minimizing centralized vulnerabilities
Self-Sovereign Identity
Empowers individuals with complete control over their digital identities
Utilizes Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs)
Ensures privacy-preserving verification and selective disclosure of information
Rewards & Incentives Mechanism
Smart contract-based reward issuance, redemption, and transfer
Interoperable rewards across multiple brands
Real-time personalization using zero-party data
Transparent reward tracking and auditability
3.4 Personas Impacted
Consumers
Digital natives (Millennials, Gen Z)
Privacy-conscious consumers
Decentralization-savvy users
Businesses
Commerce and retail brands
Enterprises with loyalty programs
Data Brokers and Buyers
Advertisers
By addressing the critical needs for data privacy, identity management, and ethical data monetization, MAIN is poised to transform the digital landscape, fostering a more equitable, secure, and user-centric data economy. This revolutionary approach not only empowers individuals but also creates unprecedented opportunities for businesses while ensuring the integrity and efficiency of the broader data ecosystem.
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