Sharing Your Geo-Location Data and the Importance of Compensation

 

In today’s digital age, location data has become a precious commodity. For MapMetrics, it is the backbone of our web3 navigation app, and it’s generated by the GPS system in your smartphone and SPT device. This data provides rich information about your movements, behavior, and preferences. Sadly, most individuals are unaware that they are sharing it. Until now, there hasn’t been an effort to compensate people for their data.

Let's take a look at the importance of compensation when it comes to sharing geo-location data.

1. Ownership: People generate a vast amount of geo-location data through the use of their smart devices. This data provides valuable insights into our movements, preferences, and behaviors, making it a valuable commodity in today’s digital world. It’s only fair that people should own this data and have control over how it’s used. Rewarding people for their data not only acknowledges their ownership but also provides a financial benefit for something that is rightfully theirs. By compensating individuals for sharing their data, we can empower them to be more informed about their data’s value and how it’s being used by companies.

2. Incentive for Accurate Data: The accuracy of geo-location data is critical for its usefulness in a variety of industries, including retail, advertising, and transportation. Offering compensation for geo-location data provides an incentive for people to provide accurate information. This incentive encourages people to take the necessary steps to ensure that their data is as precise as possible, which, in turn, improves the quality of the data. By offering compensation as an incentive, companies and organizations that use this data can be confident that they are working with high-quality data, making it more attractive for them to invest in.

3. Encourages Adoption: Despite the widespread use of geo-location data, many individuals remain hesitant to share their data. Some may be concerned about privacy or the security of their data, while others may not see the value in sharing it. However, financial compensation makes it more attractive for those who are not sharing their data to contribute to the data pool. By offering incentives for sharing, we can encourage more people to participate in sharing their data, increasing the data pool’s size and value. As a result, the increased contribution of data makes it a more valuable resource, benefiting individuals and businesses alike.

Do you collect personal data?

Sharing your geo-location data may feel intrusive and can raise concerns about privacy. Rewarding people for their data creates a more fair exchange and you keep control of your data. This helps to ease privacy concerns and increase trust in the data-gathering process. MapMetrics requires an email address to access our web3 navigation app. Users select their vehicle type to ensure the correct SPT and select a fuel type based on their vehicle. Optional fields provide more data but are not required to earn rewards.

How will my my geo-location data be used?

Compensating people for their geo-location data also provides greater transparency in the process. This can help to increase trust in the data-gathering process. The MapMetrics platform uses blockchain technology to ensure transparency. This technology ensures all transactions are visible to the public and are unalterable.  Transparency also ensures that people are aware of how their data is being used. Our business portal and revenue reinvestment are examples of transparency in our web3 platform.

Cryptocurrency as Compensation

With MapMetrics, compensation for sharing geo-location data now exists on an international level. Our platform uses cryptocurrency to compensate users for their geo-location data. This provides a means of exchanging value that is not tied to any specific country or currency. It also makes it possible for people from all over the world to take part in our data-gathering process. Our users receive compensation for their data in the form of our native token $MMAPS.  Cryptocurrency provides a secure and transparent means of exchange.  This helps to further protect privacy and ensure fairness in our data-gathering process.

This is your data. These are your Rewards.

User-generated data is fast becoming one of the most important assets for many web3 projects. Onboarding new users and ensuring a willingness to share data is a crucial step to success. This success requires trust and compensation that ensures broad user participation. MapMetrics subscribes to these beliefs. We take this into consideration with the geo-location data we collect. Our users earn crypto rewards for contributing data to the network they’re building. To our users, our philosophy remains constant: This is Your Platform. This is your data. These are Your Rewards.