3. How could the value of personal data be democratized?

Rind: ImagineBC is working on solving this exact issue. Let’s face it: it’s all about attracting an advertiser’s attention and making it more beneficial for them to compensate you than to compensate big tech.

There are a few crucial things that must occur in order for personal data to be democratized.

It starts with the idea that there is really no such thing as ‘free’ in the world of technology. If you are receiving a free service from a technology vendor, there’s a pretty good chance that they are really in the business of collecting and selling your information to other third parties.

So, individuals need to become aware and be ready to start paying a fair fee in exchange for the protection of their identity and the value that identity holds.

Individuals must organize into larger units or communities. Advertisers are after numbers, so to convince them to spend their large budgets within a platform that benefits the individual rather than continue to use big tech’s platforms, you must prove you have a large enough population to grab their attention.

However, it’s not just about numbers. New technologies such as AI/ML have created an appetite amongst advertisers for ever-narrower targeting of their message to consumers. So, these same technologies must be used by the platform provider, with the understanding that the majority of the benefit from their use will go to the individuals who have been targeted.

Individuals must accept that this type of service is not free of cost, so some minority portion of the benefit must go back to the provider who has helped create these earning opportunities for them.

4. What benefits do AI/ML and blockchain bring to data privacy and protection?

Rind: Blockchain combined with its very close relative, the IPFS, are the ground-breaking technologies related to data privacy.

Blockchain wallets are not just for storing digital currencies like Bitcoin. The technology can be used to established provenance of ownership for intellectual property like but not limited to songs, books and art work. The technology can be used to secure ownership and transparency within supply chains that can help reestablish trust between companies and their consumers.

Most important of all, blockchain technology can be used to secure our personal information. Complete privacy is maintained because of the immutable and unhackable nature of the technology.

AI/ML are a bit more dangerous but, used properly, they can provide a much-needed solution to things like the protection of property rights.

5. What are ImagineBC’s plans for Asia Pacific markets?

Rind: The Asia Pacific market as a whole is obviously high on our list of priorities, given the high general interest in blockchain and cryptocurrencies among younger, sophisticated and educated population.

Of special interest are the money and value transfer systems based on distributed ledger technology, as moving money and data across borders at little or no cost is of utmost importance for our ecosystem to function most efficiently.

There are numerous companies in Singapore, Thailand, India and China trying to address this issue with limited results in terms of regional utility and scope but the region as a whole has been the leader in this area we are paying very close attention to all. new developments. Our business priorities, in no particular order, include:

• Money/Value/Information transfer systems based on Blockchain/DLT; 

• Entities and individuals who could help us build the user base (government and private staffing agencies, statistic bureaus, ministries of labor, celebrities, social media influencers, large corporations, etc.); 

• Sources of Capital (Sovereign Wealth Funds, Development Finance Institutions, Private Equity, Individual Investors)

• Market research and marketing groups with broad regional reach;

• Access to top talent in Business Development, Marketing, Market Research, Fundraising areas;

• Aligning ImagineBC’s mission with the United Nations’ Sustainable Development Goals;

• Cooperation and coordination with the US Department of Commerce through its Commercial Service network within diplomatic missions in the region.

Geographically, English-speaking countries would be the first to move into, most likely with Singapore as the regional hub. We are planning on attending the BlockShow Asia on 14-15 November 2019 in Singapore as the first step towards establishing a presence in Asia. The second wave of expansion would include Central Asia/ Former Soviet Republics and the rest of Asia, excluding China.

The last phase would involve China, provided there are no copycats to deal with – something we fully expect to happen. There are already a few companies in China trying to implement the “points/tokens as a reward” model in this area but nothing on a scale and scope we are working on.

We expect our expansion to take place fairly quickly, possibly over 2-3 years, as the development work we completed for our US launch would make the transition much faster and easier.

The main concern for the pan-Asian expansion is, obviously, the language barrier but we plan on engaging top talent in the region to help us get over that hurdle. It is worth mentioning that Asian developers have played a very important role in our venture from the very start, as most of our development work has come out of India, something we always emphasize and are very proud of.