They say that in the age of the internet, your data is your biggest asset. Yet, despite this, few of us actually successfully monetize our data, while most of us give it away freely.
Part of this is down to poor data hygiene, while a good chunk of it is down to the simple fact that many people aren’t aware of just how valuable their data is. Even fewer know how to actually monetize it.
The Cirus Foundation (CIRUS
), a new multi-layered ecosystem of blockchain
-enabled products, is attempting to resolve this problem by allowing users to take control of their data and to monetize only that which they are comfortable with sharing.
Cirus is an upcoming ecosystem that combines hardware and software-based solutions to build a data economy in which users can be rewarded for sharing their data.
The Cirus platform is centered around the Cirus hardware solution, a proprietary WiFi router, which allows users to easily secure and capture data from their connected devices, and to share data within the Cirus ecosystem. Any shared data, if monetized, will generate a passive income for owners.
On the back end of the Cirus ecosystem, an elaborate software system takes user-authorized data and pipes it through various channels designed to provide value to data miners and to the user. This solution provides a range of attractive data for data purchasers, while also leading to more relevant ads for users.
The Cirus economy is powered by the CIRUS token.
This plays a number of important roles in the Cirus ecosystem: it is the main token used to reward users (both stakers
and data providers), as well as a tool for authenticating new Cirus devices. All yields distributed to users are in the form of CIRUS tokens.
Cirus’ three founders, Daniel Bland, Samartha Nagabhushanam and Michael Luckhoo, are being supported by an experienced team that hails from prominent tech firms, among them IBM, SwissBorg and Zeta.
As a data monetization platform, Cirus leverages a custom-designed WiFi router to automatically harvest selected data from any connected devices. Users are in full control of the types of data collected and shared within the Cirus network.
Cirus isn’t looking to reinvent the wheel when it comes to data monetization but it is trying to make the process a good deal more accessible and secure by combining tried and tested data marketing strategies with a powerful blockchain-powered solution. Cirus aims for its users to have far more control over how when their data is monetized and to benefit from instant rewards delivered over the blockchain. The underlying technology is designed to reduce losses by eliminating intermediaries.
Two versions of the Cirus device will be made available.
The first and more basic version will be distributed to consumers via partnerships with internet service providers, whereas the second version will be a more premium option that includes additional features, such as mining
and enhanced data collection options. The premium version will only be available direct-to-consumer
and can either be purchased or earned by interacting with the platform.
The Cirus device includes a number of features that make it a potentially powerful and robust asset for holders. These include a built-in validator node, integrated smart storage, an integrated IoT platform and power backup.
Users can choose which data to share and what to keep private, allowing them to monetize only the data they are comfortable with sharing. The device also functions as a full-featured WiFi router, ensuring it can be used even when data monetization isn’t a priority.
User data is filtered and then processed by Cirus’ software engine before it is packaged and ready to be monetized in various ways, which include AdTech options thanks to Cirus’ connections with a variety of data markets. Beyond this, the platform uses a combination of cloud storage, blockchain-based provenance and fractionalization to produce data sets that are granular and provably authentic.
The data collected from users is made available through Cirus' data management and demand-side platforms, which use a combination of deep-learning algorithms and external markets to organize data and make it accessible and attractive to data purchasers.
Thanks to a variety of integrations, Cirus will make it easy for users either to delve further into the crypto
economy or to off-ramp their earnings directly to fiat
This device is considered an optional entry route into the Cirus ecosystem. Users will also be able to capture and monetize their data through a variety of apps and browser plug-ins if they choose, and can use the same back-end infrastructure as Cirus device holders. That said, the device will be needed if participants want to maximize their earning potential.
As of the time of writing, the Cirus Platform is currently waitlist-only. The platform is expected to move into Phase 1 of its launch cycle in Q4 2021, with the launch of the Cirus Platform. In Phase 2 (scheduled for Q1 2022), the browser extension and mobile app will be launched and will introduce Cirus’ basic data harvesting features. The Cirus device is expected to be distributed in Q2 2022.
As a platform looking to help users better monetize their data, Cirus incorporates a range of unique features that should help it deliver on its purpose. These include:
Cirus already has a near feature-complete prototype of the Cirus device and more than 4,000 units have already been deployed for sandbox testing in thousands of households.
The firm behind the product currently has 47 international patents pending.
Cirus intends to deliver its hardware to households by establishing partnerships with internet service providers. It’ll also offer the Cirus device directly to consumers, providing a direct entry route to its ecosystem. Mass manufacturing has already been secured for the router.
Hardware Not Mandatory
Although the Cirus device is a key part of the Cirus ecosystem, it is not necessary to begin earning CIRUS
by monetizing data. Instead, users can choose to use Cirus’ app and plug-ins to capture data from their devices but may wish to upgrade to the Cirus device to maximize their revenue.
Data Non-Fungible Tokens (dNFTs)
Cirus introduces a unique new concept known as data non-fungible tokens
, or dNFTs. These are unique to each individual data provider and are used as the data key that provides access to the data assets generated over time by the user.
Layer Two Solutions
In order to maximize the efficiency of the network, minimize transaction fees, and deliver the most value to both data providers and purchasers, Cirus plans to integrate a variety of layer two solutions
, starting with Polygon (MATIC)
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