Jared Wolf
@jwolf
The dichotomy of underused and misused data: Consumers feel like their data is being misused. Companies feel like their data is underused for analytics. As many as 60% of consumers believe their data is misused, according to a recent study by PrivacyEngine. Meanwhile, up to 70 or 80 percent of enterprise data goes unused, according to enterprise data infrastructure provider NetApp. Some say it’s even as high as 90%. 90%???? How is that possible? It’s a waste of energy. A missed financial opportunity for businesses. And it harms productivity too. (con't)
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Jared Wolf
@jwolf
The amount of data generated and collected by businesses has grown exponentially in recent years. That makes it extra challenging to process and utilize all of it effectively. And if you’ve ever been to Europe, you know how challenging data privacy can be for businesses and consumers. This looming challenge of unused enterprise data is often referred to as "dark data". I believe blockchain and AI can together solve this problem. There is clearly ripe opportunity. But to effectively leverage blockchain for managing and utilizing enterprise data, enterprises have to actually understand which data sets are being underutilized and what areas of their business could potentially benefit from enhanced management and accessibility. Healthcare, supply chain, and finance are three leading industries already developing enterprise systems around blockchain.
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Jared Wolf
@jwolf
Personally, I think more consumer brands are going to find value in launching large-scale blockchain systems to drive richer customer data alongside new technology initiatives in emerging fields like gaming and AI. At its best, these initiatives can both improve customer experience and maintain customer data privacy at the same time. Ultimately, we should be turning unused data into a valuable asset that drives insights, innovation, and customer protection. Who will lead the charge in consumer engagement and the “future of commerce” remains to be seen. I want to highlight some projects building in on-chain enterprise data. And we’re working on some relevant initiatives @ Supernova around this area. If you’re in this space, reach out!
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