<p>Founded in 2021, Data Labs is changing the landscape of travel by leveraging blockchain and NFT technology to offer a wallet service called “MyInfo Market,” where users can store and control their own data, according to an <a href="https://www.datanews.co.kr/news/article.html?no&#61;130447" rel="noopener noreferrer nofollow">article</a> published by Korean news outlet Data News.</p><p>In particular, MyInfo Market can be used in tandem with the company’s travel app Yeohaengdaelo, which utilizes users’ travel-related data to recommend travel destinations and organize and share itineraries. Users can directly manage their personal preference information on MyInfo Market and selectively submit the information necessary to receive rewards. “It’s not just a travel itinerary app, it’s also a way for individuals to earn money using their own data,” said Kim Jong-hyun, CEO of Data Labs.</p><h2 id="header-0">Seamless travel experience</h2><p>Yeohaengdaelo integrates Naver Blog, Instagram and KakaoTalk services into one app, aimed at relieving the stress that comes with travel preparation, Kim explained. It utilizes data such as the region a user is traveling to, their travel companions and information on facilities, as well as their travel preferences and patterns. The app also provides real-life services such as discounts at designated restaurants near the travel site.</p><h2 id="header-1">Building trust and value</h2><p>The company explained that it intends to maintain a cyclical data ecosystem where users can willingly provide their data to get travel recommendations and receive suitable compensation for that information in return. Because the ecosystem is blockchain-based, it provides a safe method of personal information management.</p><p>Since the launch of Yeohaengdaelo in July, Data Labs has been developing a business model that can secure a solid user base and revenue for affiliated businesses. It expects to reach 55,000 members next year and 2.14 million members by 2028. The company also expects to use the business model as a basis for generating KRW 500 million (approximately $386,000) in revenue next year by linking marketing channels, issuing discount coupons for kids’ amenities and providing data royalties.</p><p>In the future, Data Labs plans to expand Yeohaengdaelo to include not only travel preparation services but also information on various discounts that users can receive based on the location they are in. Efforts like this will be necessary to provide unique user experiences, the company said.</p><p>Data Labs is also currently receiving support through Y&amp;Archer’s tourism acceleration program. Y&amp;Archer is a Korean investment and acceleration firm known for its AC Program, which discovers, accelerates and supports startups through various projects.</p><p>“In the past, companies profited from personal data, but Yeohaengdaelo allows individuals to monetize their data. Our goal is to create a world where individuals can regain the rights (to their own data) and be at the center of Web3 content,” Kim said.</p>

Data Labs leverages blockchain technology for data-based travel itinerary app

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