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      "body": "## The Permission Token Is Going Live By The End Of The Year.\n\n*We Answer Your Most Burning Questions About Mainnet Launch.*\n\nhttps://cdn-images-1.medium.com/max/800/1*it7C0CXcQ8b_0vJESTvfEQ.png\nIf you missed our [Telegram](https://t.me/Algebraix_Data) AMA last Friday, we’re here to catch you up.\n\n\n[Permission.io](https://permission.io) is proud to announce that the Permission token (ticker: ASK) is going live by the end of the year! After months of planning, testing, and interacting with our incredibly dedicated community, we are preparing to pull the trigger and launch our blockchain within the next several months.\n\nThe big news came last Friday during an AMA on our [Telegram.](https://t.me/Algebraix_Data) Shane, our Agile Coach and the guy who keeps things rolling in the Permission office, answered the community’s questions about the token, compatible wallets, upcoming app features, and more. Keep reading to learn what you missed!\n\n### Will ASK be an ERC20 token?\n\nGreat question. No, it won’t be. We are not an ERC20 token contract on Ethereum. We are leverging Ethereum’s geth infrastructure code and the Clique consensus protocol to create our own blockchain, with the ASK token fueling the network.\n\n### Since ASK is not an ERC20 token, what wallets can members use, other than the Permission wallet?\nCurrently, we expose our HD derivation path on your wallet page, for those early adopters who understand how to set that up. For those of us who aren’t comfortable with setting that up manually, we will have some supported wallets coming out soon.\n\nWe will have compatibility with MyCrypto.com and MyEtherWallet.com; along with other wallet providers, including hardware wallet providers.\n\n### What will be the next feature introduced for the user to want to go to the website besides going just to watch the ads to earn more ASK tokens?\n\nThe next visible feature this month will be the CTA for advertisers. In short, an advertiser will expose one of 6 Calls to Action buttons, Ex: Buy now, subscribe, more info, etc. if you like the purple pillow, you will now be able to ‘buy now’ from amazon or wherever the advertiser wants to send you for purchase.\n\n### Will the amount of ASK shown in the Earned Balance be the same number members will receive when the Permission mainnet goes live?\n\nYes. Currently, we are on test net and have funded the community with 2000 ASK to play around with. This was intended to protect your earned balances, while we test out the blockchain. Once main net is live, after test net is audited and you guys are happy, we will then ‘flush’ your earned amounts daily to your wallet.\n\n### Why is it that you can’t like/unlike individual videos?\n\nUnlike Youtube, our videos dont live forever. When it runs out of [funding], it’s done. We do plan, next year sometime, to build in reviews for individual content, to assist the community to weeding out bad content providers, via a rating/review system.\n\n### Is there an accumulated ASK limit before the mainnet is activated?\n\nNo limits! We hope you will watch and refer and earn lots and lots and lots of Permission tokens!\n\nShane ended the AMA by reminding everyone that Permission is a beta product, in which the token is a key part… but not the only part! We need testing and feedback on the entire experience.\nJoin [Telegram](https://t.me/Algebraix_Data) now to stay in the know about future [Permission](https://watch.permission.io) updates.\n\n\n[Permission](https://permission.io) is creating a new digital ad model built on Permission, Trust, and Transparency. The Permission Marketplace properly compensates its members to view ads versus the legacy model of interruption and inequitable economics.",
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      "body": "#### Testnet Wallets, Personal Profiles and 2FA Are All Live on Permission.io\n\n_What, Why, and How to Set Up Two-Factor Authentication_\n\nNo time to read? Just watch this quick tutorial!\n\n<iframe width=\"560\" height=\"315\" src=\"https://www.youtube.com/embed/5AV348z1maw?rel=0\" frameborder=\"0\" allow=\"autoplay; encrypted-media\" allowfullscreen></iframe>\n\n### What Is the Point of 2FA?\n>\nTwo-factor authentication is an extra layer of security that companies use to protect users’ from digital fraud.\nAlso called Two-Step Verification, it requires not only a password and username but also something that only the user has on them, such as an additional device and generated code.\n\n### Why Are We Using It?\nWe are all about data ownership and security at Permission. They are two of the foundational values that drive everything we do. That is why 2FA is required to ensure that no one but you can access your personal data or your Permission wallet.\n\n### How To Set Up 2FA?\n\nHere are the 7 steps to setting up 2FA protection, so you can get back to earning Permission tokens!\n\n1. Click on “Profile” or “Test Wallet” in the Permission menu.\n\n2. For easiest setup, it is HIGHLY recommended that you log in to [Permission](https://watch.permission.io) from a computer, and download a 2FA app on your smartphone.\n\n3. Download either [Google Authenticator](https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2&hl=en_US) or [Authy](https://authy.com).\n\n4. Open your selected 2FA application and follow the on-screen instructions for adding a new site. The easiest way to add Permission to your authenticator app is by scanning the QR code displayed on your Permission screen.\n\n5. **Next, make sure you write down or take a photo of your key!! It is the ONLY way to get back into your account, should you ever get locked out.**\n\n6. Now, go back to your 2FA app and you’ll see a 6 digit code. For added security, this code changes every 30 to 40 seconds. Quickly enter it on your Permission screen.\n\n7. NICE! Now your [Permission](https://watch.permission.io) wallet and personal information are protected by two-factor authentication. Get back to watching and earning!\n\n#### Still Having Trouble?\n\nIf you experience issues setting up Google Authenticator, go into the app’s settings and make sure you have selected “Time correction for codes.”\n\nHave more questions about 2FA? Join us on [Telegram](https://t.me/Algebraix_Data)!\n\n\n_**[Permission](https://permission.io) is creating a new digital ad model built on Permission, Trust, and Transparency. The Permission Marketplace properly compensates its members to view ads versus the legacy model of interruption and inequitable economics.**_",
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      "body": "![screenshot for press release.png](https://cdn.steemitimages.com/DQmT9KstmY73afPZP9jXE5w3fAm8NYsrUikgHNzsDR8dhnj/screenshot%20for%20press%20release.png)\n\n_The new brand affirms the company’s commitment to creating a new digital ad model based totally on permission._\n\nAlgebraix.io and its beta product “getALX” are officially rebranding to [Permission.io.](https://permission.io) The rebrand reinforces a corporate dedication to creating permission-based relationships between advertisers and consumers.\n\n“This rebrand gives clarity around what our company has always stood for and what users and advertisers on the platform can expect,” says Charlie Silver, CEO at Permission.io.\n \n“Timing is right for a completely different ad model,” he adds. “Consumers are now actively avoiding interruptive ads and scrutinizing how their data is handled. Our model is founded on transparency and permission in order to deliver trust. It’s refreshing, and we think both customers and advertisers will see the benefits right away.”\n\nThe company launched its permission marketing [application](https://watch.permission.io) in beta at SXSW 2018. The web application has seen explosive organic growth, supporting its belief that an advertising model based on interruption is no longer viable. Both advertisers and members of the company’s beta community have enthusiastically adopted the permission-based advertising ethos made a practical reality by Permission.io, inspiring the comprehensive rebrand and the tagline, “Ask First.”\n\nIn addition to the corporate rebranding Permission.io is also renaming its cryptocurrency. The reward users get for engaging with ads is changing from ALX to ASK, in keeping with the idea that advertiser-consumer relationships built on permission are the key to loyalty and superior ROI.\n\n### **About Permission.io**\n\n[Permission.io](https://permission.io) is creating a new digital advertising model built purely on permission between advertisers and consumers. With complete transparency advertisers and consumers can now forge trusted relationships that were unavailable through the legacy models of interruption and obfuscation.",
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      "body": "https://cdn-images-1.medium.com/max/800/1*ZPicC_8XPBZgNOMJHa5nNg.jpeg\n > The Usual Suspect\n\n\nLet’s face it, it’s all over the place. Your emails and all their attachments are on Gmail, or maybe Yahoo. Your educational and professional history is on LinkedIn and your social shenanigans are on Facebook. Your music is in iTunes and your photos, and a whole heap of other stuff is in Dropbox. And there’s more of it on your PC and your mobile phone.\n                                                                  \nYour personal details, like name and mobile number and email address are on most of the web sites you signed up for, and your financial details are with your bank and credit card providers. Your investments are with your broker and the deeds to the house you own, if you own one, are lodged in a bank somewhere along with legal documents, like your will. The frustrating truth is these apps and services you enjoy so much have become quite entitled to your personal data, storing and sharing it and selling it as they please. The good news is that as a data creator, you don’t have to keep accepting this truth. You have more power than you realize. Before I get to that, let’s look at the types of data that we each possess.\n\n# Can We Reclaim Our Data?\nI’m glad you asked. The answer, I believe, is “yes—but it will not reclaim itself, and you cannot do it right now.”\n\nBut before you even think of that, it makes sense to have some idea of what your personal data is. Here’s a list:\n\n1.) **Basic personal information.** Some of this data is what you might be asked for when you sign up on a web site, such as name, gender, date of birth. It also includes contact data like email addresses, mobile number and physical address.\n\n2.) **Credentials.** This is formal identification data that proves who you are or possibly just gives you the key to unlock some door. It includes such things as driver’s license, work visa, passport, birth certificate, marriage license, social security number and so on. It also includes digital credentials that give you access to websites, accounts, software applications and so on.\n\n3.) **Personal history.** If you include everything this is a big category: your education record, your employment record, travel, criminal record (if you have one), family history, health record and financial record. To this you can add your personal digital history—a full audit trail of all your digital activities, click by click, since the birth of the Internet. Of particular interest is your shopping history, online and off. You don’t have to guess why.\n\n4.) **Profile, Interests and Preferences.** This is the kind of data that advertisers want to know about you; likes, dislikes, hobbies, sports interests, entertainment interests, political and religious interests, and so on. Even the content of your camera roll (screenshots, photos, videos, geotags, and all) is accessed at an alarming frequency. Additionally, there exists a digital map of your day-to-day location, thanks to GPS tracking capabilities built in to most mobile applications.\n\n5.) **Proof of Ownership (or Title) and Digital Possessions.**  The data here includes deeds, titles, provenance, appraisals and other documents that relate to or prove an individual’s ownership of possessions such as a house, car, antiques, etc. It also includes details of any items that you have created or manufactured: machines, works of art, books written, music, videos and any patents. To that you can add all your digital possessions, including all photographs, videos, music, sound recordings, software they have bought, data files and so on.\n\n\n*Read the rest from Algebraix CSO Robin Bloor [here](https://medium.com/algebraix-data/dude-wheres-my-data-8412f4bde0db)*",
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      "body": "https://cdn.steemitimages.com/DQmX5NmKwixKLUPiMHDJTrNtugQREPy2KEphQJGExxVuFzF/image.png\n\nYou may not realize it yet, but blockchain technology will reimagine and rebuild the digital world. It will do so in many ways because it can create and automate secure transparency in business activities, because it can create an automated inviolable trust and because it can create microeconomic environments within a business or between businesses. If you find that confusing, don’t worry we’ll explain.\n\nThe question we consider here is: how will blockchain technology affect consumer marketing?\n\n## The Ownership of Data\n\nIf we claimed that the blockchain enabled data ownership, we’d be bending the truth. What determines data ownership is legislation. In recent years the EU has legislated to protect personal digital data ownership with what it calls General Data Protection Legislation (GDPR). If you need details read these articles: Is Goddam Privacy Regulations What GDPR Really Stands For?, Got A Data Protection Officer? Didn’t think so. Maybe you need one. and What Are Those Data Rights I Keep Hearing About? ). EU citizens own their digital data and regulations control its use. These regulations are far reaching because they apply to all companies in the world who store the data of EU citizens.\n\nIt is likely that all democratic nations will soon adopt such rights. If a country asks its citizens to vote on whether they own their digital data, they are almost all going to vote “yes.” What started in the EU will likely spread worldwide, but even if it doesn’t any company doing business in the EU will have to conform.\n\nThe contribution of the blockchain is that it makes personal digital data ownership a practical proposition.\n\n## Data Violation and Permission Based Advertising\n\nDigital advertising is a large element of marketing for most companies, and right now the vast majority of digital advertising is interrupt based. It assaults you as you search the web or browse from web site to web site, or visit your Facebook page. A multitude of intermediaries dominated by Google and Facebook, have harvested masses of personal data and profitably exploit it. That’s how the world is right now, and the blockchain will turn it upside down.\n\nAlgebraix Data is one of the new blockchain companies which has dived into the advertising market and if the company has its way it will provide consumers with the ability first to securely store and protect their data, and secondly to interact with advertisers on a permission basis. They will watch the ads they want to, and they will be paid directly for doing so. There are other blockchain companies such as BAT, which also intend to reward consumers for their attention.\n\nSo it looks like the game may be up for those companies that believe they can exploit the consumer’s personal data at will, because fairly soon consumers are going to be able to take back ownership of their data and get paid for its use.\n\n## What difference is this going to make?\n\nRead the rest of this article at Algebraix CSO Robin Bloor's [blog](https://medium.com/algebraix-data/why-permission-based-engagement-is-the-future-of-marketing-66afeff1a44c).",
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      "body": "https://steemitimages.com/DQmQeQJwLyXmFEdyUBQZhK7xUuKZncaHt5W1aCvGv8y5Cq5/image.png\n\n\"Possession,\" they say, \"is nine-tenths of the Law.\" This old saying is clearly passé,but in centuries past, a person in possession of something held the strongest legal claim to it, whether that something was a mansion or a mandolin. And that was because there were few records to attest otherwise.\n\nConsider this: In medieval England the ownership of land was conveyed in “fee simple,” which, if you didn’t know, means “permanent and absolute tenure,” by what was called a “feoffment with livery of seisin.” The seller and the buyer (also known as the feoffer and feoffee) met on the land that was being conveyed and performed a quaint little ceremony in front of witnesses. The seller would give the buyer a little symbol of the land itself, like a twig or a pebble or a handful of dirt, and then swore orally that he was passing the land to the feoffee. Once the feoffee moved onto the land, he or she clearly possessed it.\n\nThis jolly process for transferring the ownership of land was, of course, replaced by deeds — written legal instruments, which were signed, sealed, and delivered. In England, that began during the seventeenth century. That may seem rather late in the day, but in truth it required an IT revolution for that to happen, and that IT revolution was printing.\n\n## Title is Data!\n\nPrinting made it possible to create many things: banknotes, standard letters of credit, company stock, standard title deeds, and so on. You may not think of them this way, but those financial instruments and deeds were just data — officially standardized data. Most of the things you possess of value right now are provably yours only by virtue of such official data — data created by the information technology that ruled the world before computers were invented.\n\nNow, you may have thought that the 70 plus years of IT since the end of World War II had completely superseded all of that Gutenberg technology. If so, think again. We still have paper banknotes, paper letters of credit, paper stock and shares and paper title deeds.\n\nBut we won’t have much longer. Blockchain technology is going to sweep that all away. And it will do so because it will provide an inexpensive bullet-proof home for all of that valuable data. And it will also provide a bullet-proof home for all your valuable personal data.\n\n## You Own Your Data!\n\nLet’s get this straight. There can be no real debate about it. If you asked anyone to vote on the matter, everyone would vote for personal data ownership. Right now personal data rights are not enshrined in US law, but they are in Europe — through General Data Protection Regulations (GDPR). It’s only a matter of time before such regulation arrives on these shores. And we should welcome it...\n\nRead the rest of this blog by Algebraix CSO Robin Bloor [here](https://medium.com/algebraix-data/why-you-need-to-take-ownership-of-your-data-d0e5afd7e8ec).",
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      "body": "## So why is the blockchain so revolutionary?\n\nStart with [“people can’t be trusted.”](https://medium.com/algebraix-data/people-cant-be-trusted-that-s-why-the-blockchain-will-change-the-world-bd6ade14f7a5)  \nAssume you are completely paranoid —if-they-can-screw-me-over-they-will.” Imagine you are blindingly intelligent. Invent a data storage technology that’s invulnerable, like Achilles with a pair of steel boots. Call yourself Satoshi Nakamoto. Call your invention a blockchain.\n\n## So who is Satoshi Nakamoto?\n\nSorry. I cannot tell you that. If I did someone would kill me.\n\n## OK. That’s annoying. So what is a blockchain?\n\nLet’s start with the fact that databases usually store data in blocks of data. They’ve done that since God was a boy. They wait until they have lots of records to write — a block full — then they write them all in one block. It is more efficient that way.\n\n## So what is the ‘chain’ part?\n\nWhen you store records in a blockchain, it chains all the blocks together without you even having to ask.\n\n## So what? Why would I care?\nYou wouldn’t if you didn’t care about security. You see the blockchain chains the blocks together with a hash and that makes them secure.\n\n## I have no idea what a hash is. You lost me right there.\n\nIt’s mathematical. I will not give you the detail. You’ll come after me with a baseball bat if I introduce any more terms and start writing math formulae. Nevertheless, it is possible to take a big block of data and “hash it.” and it gives you an impossible-to-forge fingerprint of the data. Every time a new block is created, it is stored with the hash of the previous block. It means that the previous block is locked, kinda frozen in time and order.\n\n## OK, so a supremely boring mathematical fingerprint locks the order of the blocks. Why should I care?\n\nIt means that no-one can ever forge a block. The values are locked in an impenetrable steel vault that is every bit as strong as the boots Achilles should have worn if he was going to survive the Trojan War.\n\nRead the rest of this exchange on Algebraix CSO Robin Bloor's [blog](https://medium.com/coinmonks/why-is-the-blockchain-so-revolutionary-explain-like-im-5-be3f6771f64c).",
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      "body": "https://cdn-images-1.medium.com/max/800/1*tuT1JOzRE6cNZUaIuQsUKQ.jpeg\n\n## Myth 1: The government is coming for your crypto.\nExcuse me please, but no government has the power to shut down a cryptocurrency; blockchains are international and decentralized. Add in the fact that wealthy investors (the good, the bad and the ugly) use store some of there stash in Bitcoin or Ether — and such people have political influence — and it’s game over, almost.\n\nA government can make crypto illegal. And that’s what some economically-unsophisticated countries have done. When they do, it drives the currency underground and shops are not be able to accept it.\n\nHere’s a list of the economically-unsophisticated: Algeria, Bolivia, Ecuador, Bangladesh, Macedonia, Nepal. That’s just 6 out of 195, which is not bad for crypto. (Perhaps I should include Vietnam and Indonesia; both allow crypto speculation, but banned payments using crypto.)\n\nBanning crypto will backfire spectacularly, stifling a whole sunrise industry until the sorry government finally realizes you can’t stop a technology tide.\n\nAs for the US, America is not going to ban crypto. No chance. Wall St is deeply in love again. And it’s the first time since it flashed its eyes at derivatives.\n\n## Myth 2: With crypto, you will pay no taxes\n\nNot exactly. Of course politicians fantasize about banning crypto, even though they realize it’s a numbskull scheme. They fear crypto will deliver a simple means of skipping all taxes and the public purse will suddenly be empty. (Who then would pay their wages?)\n\nThe good news is that their fears may be well-founded. Crypto will probably provide ways to anonymize your money. The bad news is that our beloved politicians will quickly shift the burden of taxation to things that can be taxed, like everything you buy and stuff you cannot hide (land, property, yacht, etc.).\n\nThis tax switch will be disruptive, but it is inevitable whether you approve or not.\n\nAt the moment, the tax situation surrounding crypto varies. In most countries (including the US) crypto is treated as a commodity on which you pay capital gains tax if you speculate successfully. Blockchains are a public record, so where there’s a record of you putting money in, there is a record of your ownership. The tax man can know, and you risk his wrath if you try to hide your profits.\n\n## Myth 3: Can’t buy me much, yeah, everybody tells me so\n\nSome crypto-skeptics still believe crypto will never amount to much, although there are fewer than there were — culled perhaps, by the astronomic rise in crypto last year and Wall St obvious passion for its new financial mistress. Ripple in particular silenced many crypto-atheists when it announced that upwards of a hundred banks were using the Ripple network.\n\nThe crypto-skepticism transferred itself to the tokens that are not in the payments business. There are hundreds if not thousands of these. Some focus on computer infrastructure (the cryptocloud), some on the ad market, some on gaming, some on gambling, some on retail, some on the supply chain and many on the health sector. Btw, my health sector favorite is Dentacoin. It makes me laugh just thinking about this crypto tooth-fairy.\n\nI’ve always hated dentists, why would I ever buy their crypto?\n\nThe reason none of this seething mass of crypto tokens has made the news yet is that it’s too early. It will happen. Give it a year or two, and there will be dozens, or hundreds — maybe even bajillions.\n\nRead Algebraix CSO Robin Bloor take down two more crypto myths [here.](https://medium.com/algebraix-data/five-more-crypto-myths-taken-down-e2a3615bb4a9)",
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      "body": "(https://steemitimages.com/DQmXrQxRwXVnvCbqTsVFvCha6T8wu4Efwwr7AChmuQAX6tf/image.png)\n\n## Myth 1: Crypto is not secure\n\nBlockchain technology has its tenth birthday this year in October if you measure its birth from the publication of Satoshi Nakamoto’s original paper. If you measure it from the release of the software, it occurs in January next year. Either way, the technology is nearly ten years old, is considered unbreakable (at least until quantum computers grow tall) and has never been successfully hacked.\n\nThe crypto-is-insecure lie is fake news formed from a chain of successful crypto-heists. Here are the most notable:\n\n- **Mt Gox Version 1.0**: ($500,000) In 2011, a hacker using an unidentifiable user account made off with 25,000 Bitcoin, worth half a million in those days and much more now. (wallet security is much improved since those days).\n\n- **Silk Road, The Sequel**: ($2.7 million) The feds closed the Silk Road in October 2013, and doppelganger site appeared as if from nowhere. Sadly the security was not as good as the original. A hacker blew through it and cleaned it out to the tune of $2.7 million.\n\n- **The Sheep Marketplace**: ($56 m) The Sheep Marketplace opened at the same time as Silk-Road-the-Sequel, surviving a little longer before a marauding hacker got his hands on some ill-gotten gains. This was an epic heist, 96,000 Bitcoins worth about $56.4 million and the hacker had the cheek to manipulate user account balances so that it looked like nothing had happened.\n\n- **Mt. Gox Version 2.0** ($436 million) After February 2014 when Mt Gox finally shut its doors, 744,408 Bitcoin were missing. This hack had the added impact of crashing the price of Bitcoin.\n\n- **The Pony Botnet**: ($220,000) A botnet using trojan malware called Pony stole vast numbers of login credentials from 700,000 accounts, 85 of which had Bitcoin wallets. The hacker emptied them to the tune of $220,000.\n\n- **The Demise of the DAO**: ($55 million) The first smart contract on Ethereum was not so smart. It served the DAO (a Decentralized Autonomous Organization) and had a bug, The hacker who hacked it spirited away about $55 million. As a side effect, the Ether community forked the blockchain, but the crypto stayed stolen.\n\n## Myth 2. Cryptos are a scam, a shakedown — a Ponzi scheme, no less\n\nOk, there have been many crypto-based fraudulent schemes. The most frequent and successful scam is the “Exit Scam.” It works like this:\n\n1. Dream up a crypto idea that sounds feasible and claim it will print mountains of money for investors.\n\n2. Create a website, complete with cool artwork, a well-written white paper, impressive sounding advisers and a product roadmap.\n\n3. Launch ICO.\n\n4. When ICO completes, take the money and run.\n\nHere are some examples.\n\n- **Pincoin Token**: A team of 7 Vietnamese entrepreneurs promised constant returns to investors. They launched an ICO and reaped $660 million from about 32,000 suckers. They even paid out a little to the investors before they did a moonlight flit. They have not been heard of since.\n\n- **Benebit**: What do you think of this idea: let’s unify all customer loyalty programs? Brilliant, eh? Sorry, but it’s too late to invest. The ICO is over, and the company behind it has evaporated, along with an estimated $4 million — demonstrating a distinct lack of customer loyalty.\n\n- **PonziCoin**: This earns itself a mention; barefaced branding at its best. It billed itself as “the world’s first legitimate Ponzi scheme.” It was a prank website. It even included a public admission that it was a scam. Amazingly this didn’t stop morons from pouring money into it. It raised over $250,000. What was the founder supposed to do? Naturally, cash in hand, he made a sharp exit.\n\nA March 2018 study by the [Satis Group](http://satisgroup.io), estimated that of all the large recent ICOs, a solid 81% were “frauds,” 6% failed, 5% are clinically dead, and only 8% made it to market.\n\nWait a minute. If that’s the case, how is this a myth?\n\nTerminological inexactitude, dear reader. It should have read:\n\n**ICOs are frequently a scam, a shakedown — a Ponzi scheme, no less**\n\nThat’s why the SEC has pretty much called a halt to US ICOs. The point is that ICOs, not fully functional cryptocurrencies, are dangerous investment vehicles.\n\n**Go [here](https://medium.com/algebraix-data/five-common-crypto-myths-torn-asunder-f7149a5e3d73) to learn 3 more cryptocurrency myths and how to debunk them.**\n\n Subscribe to Algebraix CSO Robin Bloor's [blog](https://medium.com/@robinbloor) for the most insightful and hilarious takes on crypto, blockchain, and data privacy.",
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      "body": "![Kitty Cat.jpg](https://steemitimages.com/DQmZxayM8wPBrBtHrCYeGichqxcbecBGn9Hd6eavcQtDNmL/Kitty%20Cat.jpg)\n\n\nTrue story. A small company in the UK was just scraping along. No matter what it did it, month after month, it either made a loss or just turned in a small profit. So eventually the board decided to hire a new CEO, a dynamic individual who had a shining reputation in sales management and seemed capable of motivating staff. And that’s what he did — focussing most on the sales force, but moving through every department convincing everyone they could be more productive.\n\nHis first-quarter figures were good — not as good as he had hoped, but good anyway. He figured the staff deserved a reward, so he decided the company should buy every one of them a bottle of champagne. He asked his PA to do the honors, so she ordered them and had them delivered to each department head. She was surprised when, one after another, the department heads sent her several bottles back, saying she had ordered too many. She had used the payroll system to determine how many staff were in each department.\n\nThat was how she discovered the company had phantom employees. The head of HR had been subverting the payroll system. When staff left the company, he never removed them from the payroll. He just diverted their monthly pay to an account he had set up, which was awash with ill-gotten gains.\n\n## **People can't be trusted.**\nAccording to the FBI, around 75 percent of employees steal from their employer. And, by the way, that may be an underestimate. [Research by psychologists David DeSteno, Claremont Mckenna, and Piercarlo Valdesolo](https://hbr.org/2014/03/who-can-you-trust) concluded that 90 percent of people (most of whom identify as honest) will act dishonestly if they believe they won’t get caught. They will also rationalize their behavior even though they would condemn such behavior in others. \n\nWhat a sorry lot we are. When it comes to people, in the majority of situations trust is a matter of circumstance. If you live in a small village where everyone knows everyone, being trustworthy is probably a necessity whether you are so inclined or not — in big cities, not so much.\n\n## **Human trust does not scale well**\nTrust is an economic issue and a factor in many businesses. When you buy a car, you cannot know if it will match the glowing story told by the showroom sales guy. You trust that such narratives are not too wide of the truth. If the showroom acquires a bad reputation, trust vanishes.\n\nIn the financial sector trust is a much bigger deal. You trust a bank with your money; you trust a broker to buy you stocks; you trust the insurance company to pay your claim. The modern economy, and the financial sector that drives it, owes its existence to the pioneers of the seventeenth century, who found ways to embed trust into financial markets. They did it by limiting participants and expelling anyone who broke their word from the market.\n\nYour word was your bond. It was similar to the village situation, where trust becomes a necessity. It works but it does not scale well.\n\nThat’s why brands exist — to create trust among the masses. The brand is the reputation, and it takes considerable negative publicity to damage a well-established brand. Consider the Wells Fargo scandal and ask yourself how much damage it is doing. Sure resignations and hefty fines stomp on the stock value, but how many Wells Fargo customers have jumped ship?\n\n## **Blockchain, the technology of trust.**\nHuman beings steal, tell lies, finagle and cheat. Blockchains don’t. It doesn’t matter whether it’s small businesses, large businesses, manufacturers, retailers, banks, governments or the Federal Reserve, organizations run by human beings cannot be trusted 100 percent. You can easily discover thousands of examples of egregious behavior.\n\nIn contrast, blockchains can be trusted.\n\nA well-designed blockchain implements a system of trust that is inextricably bound to the blockchain and is inviolable. You do not have to trust the business owners or the miners, you only have to trust the technology — and the technology is (or should be) transparent, open to you or anyone else to examine.\n\nThe blockchain is the trust.\n\n## **Algebraix and the design of trust.**\nIt may help to understand the difference between a typical commercial operation and a blockchain-based business if I explain some of the design considerations Algebraix (the company I work for) has had to navigate through in designing its ALX platform. Algebraix is building a platform where users can be paid to view sponsored content (including advertising as well as music, video samples, etc.)\n\nA good deal of the design work is no different to any other mobile-based software development. Where it differs is in consideration of the user’s data ownership and privacy. After considerable debate, the design principles we eventually chose were these:\n\n**-**All user data will be encrypted using a private key\n\n**-**All data will reside on a user device\n\n**-**Users will have individual permission control over the use of every item of data they choose to store\n\n**-**Algebraix will never see user data in the clear, except when aggregated and fully anonymized\n\n**-**Advertisers will only ever access anonymized data for targeting purposes\n\n**-**The ALX blockchain and various associated data stores will record all activity so that every action or transaction can be audited\n\n**-**All code will be audited by a third party\n\n**-**What can be open source will be open source.\n\nThe point is this: Trust isn’t something that the operators need to provide if it is embedded in the systems they run.\n\n*Fueled by the ALX token, ALX by Algebraix is the leading media platform empowering individuals to control their data. [Participate now!](https://algebraix.io/SAFT/) in the public token sale for accredited investors or [Join](https://algebraix.io/beta/) the beta program.*\n\nFollow all of Algebraix CSO Robin Bloor's blogs on [Medium](https://medium.com/@robinbloor)",
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      "body": "![1*nRzndS2V2AzduLaMmK6KFQ.jpeg](https://steemitimages.com/DQmQ2YHrcN1XfGhJGVafUivHeLmRYeJgb61XmZnXRm1GcwE/1*nRzndS2V2AzduLaMmK6KFQ.jpeg)\n\nThe blockchain will restore balance to a market that desperately needs it — the ad market. There is an unusually large number of blockchain companies desperate to get involved. When I last took a look, I counted nineteen. This is the list: Algebraix, Adbank, Adchain, Adcoin, AdEx, AdsCash, Adshares, AHOOLEE, ATMChain, BAT, Bitclave, Kind Ads, Mass, Nexus, Papyrus, Presearch, Qchain, Rebel AI and XCHNG.\n\nI keep an eye on them, because I do the competitive analysis work for Algebraix. But it’s probably not an exhaustive list, as I’ve not done a web sweep for a few weeks now.\n\nThe Dark Secret of the Digital Ad World\nOk, it’s clear that web users hate digital adverts, especially pop-ups and anything animated. We install ad blockers, and if anything gets through, we focus away from the ad noise in search of the signal we seek. It’s an awful environment ruined, in my opinion not by the technology but by the lack of it.\nWhen the Internet emerged, in theory, there were two possibilities for magazines and newspapers if they wished to earn a living in the digital world. Either readers would have to pay for content or publishers would gather revenue from advertisers.\n\nBut in truth, there weren’t two options; advertising was the only logical option because a paywall was impractical for most publications. The only newspapers able to buck this trend were the Wall St Journal in the US and the Financial Times in the UK. They were specialist newspapers in that the readership placed a high value on the content and much of it was focused on the financial markets.\nLater, several other newspapers migrated to the paywall model, usually providing a subscription to cover both Internet access and a physical copy of the paper.\n\nThe Hound That Didn’t Howl\nThe missing technology — the dog that didn’t bark in the night — was micropayments. The cost of making payments on the Internet was way too high — several dollars.\nIn contrast, you could charge a few cents for a click on a web ad, and with enough traffic, those small amounts would accumulate. Middlemen soon emerged to distribute ads . Nowadays they do it real-time, which is why you get the creepy phenomenon of web ads following you from website to website.\n\nMicropayments love the Blockchain\nBitcoin transactions once cost just a few cents — even in early 2017. That was in the days before the Bitcoin war that saw two rival Bitcoins giants strive for dominance (BTC and BCH). Both claimed to be the true Bitcoin, but only one fought for low transaction fees.\n\nOther pretenders to the low-fee crown quickly emerged. One company, SatoshiPay, whose business is micropayments, moved its operations to such a pretender, ITOA, when Bitcoin payment costs started to soar.\nIt’s micropayments that will revolutionize the ad market. The lack of micropayments made publishers dependent on advertisers. It distorted the market. With the advent of the blockchain, balance will be restored.\n\nThe Blockchain Ad Market\nSo there are at least 19 blockchain businesses focused on the ad sector. Some are niche operations, providing antifraud services or binding an advertising network to the blockchain. If we disregard these, you can identify four distinct ad market business models:\nBusinesses trying to remake the triangular relationship between user, publisher and advertiser. This is the largest group, of which there are at least five. Basic Attention Token (BAT) appears to be the leader.\nBusinesses trying to provide a Google search/adword type of capability. There are three, of which Bitclave appears most prominent.\nThere’s just one company, Nexus, that seems to be emulating Facebook — a social network with ads.\n\nFinally, there’s Algebraix, which seeks to establish a direct consumer-to-advertiser relationship (like Groupon or Yelp, but also not really like Groupon or Yelp).\nThe situation may be analogous to the birth of the PC software market when there were at least a dozen different word processors, spreadsheet and PC databases. Only one or two survived for long, but they made a huge impact.\n\nWhy “Like a Tornado”\nWhat the blockchain boys are doing is more disruptive than it might appear on the surface. They will gradually syphon revenues from current digital ad giants because they distribute the revenue more evenly. \n\nThere are several dynamics here:\nBecause of micropayments, consumers can directly pay content providers (publishers) to view content they like.\nBecause of micropayments, publishers will not need to be dependent on digital advertising.\nAs a consequence a different relationship between publishers and advertisers can emerge, (based on readership targeting) rather than one based on real-time feeds (aggressive consumer targeting).\nBecause of micropayments, advertisers can pay consumers directly for their attention. This will likely improve advertiser ROI.\n\nAs these dynamics play out, consumers will migrate to these advertising ecosystems and the current digital giants will shrink in size.\n\nRead all of Algebraix CSO Robin Bloor's blogs here: https://medium.com/@robinbloor",
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      "body": "![1*nRzndS2V2AzduLaMmK6KFQ.jpeg](https://steemitimages.com/DQmQ2YHrcN1XfGhJGVafUivHeLmRYeJgb61XmZnXRm1GcwE/1*nRzndS2V2AzduLaMmK6KFQ.jpeg)\n\nThe blockchain will restore balance to a market that desperately needs it — the ad market. There is an unusually large number of blockchain companies desperate to get involved. When I last took a look, I counted nineteen. This is the list: Algebraix, Adbank, Adchain, Adcoin, AdEx, AdsCash, Adshares, AHOOLEE, ATMChain, BAT, Bitclave, Kind Ads, Mass, Nexus, Papyrus, Presearch, Qchain, Rebel AI and XCHNG.\n\nI keep an eye on them, because I do the competitive analysis work for Algebraix. But it’s probably not an exhaustive list, as I’ve not done a web sweep for a few weeks now.\n\nThe Dark Secret of the Digital Ad World\nOk, it’s clear that web users hate digital adverts, especially pop-ups and anything animated. We install ad blockers, and if anything gets through, we focus away from the ad noise in search of the signal we seek. 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That was in the days before the Bitcoin war that saw two rival Bitcoins giants strive for dominance (BTC and BCH). Both claimed to be the true Bitcoin, but only one fought for low transaction fees.\n\nOther pretenders to the low-fee crown quickly emerged. One company, SatoshiPay, whose business is micropayments, moved its operations to such a pretender, ITOA, when Bitcoin payment costs started to soar.\nIt’s micropayments that will revolutionize the ad market. The lack of micropayments made publishers dependent on advertisers. It distorted the market. With the advent of the blockchain, balance will be restored.\n\nThe Blockchain Ad Market\nSo there are at least 19 blockchain businesses focused on the ad sector. Some are niche operations, providing antifraud services or binding an advertising network to the blockchain. 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      "body": "@@ -2313,8 +2313,53 @@\n t works.\n+ Join ALX %5Bhere.%5D(https://algebraix.io/beta/)\n",
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      "body": "https://www.youtube.com/watch?v=L18tGegdrlU\nThe purpose of ALX is to use blockchain technology to solve the two fundamental issues that exist in the advertising model today.\n\nFor consumers, the main issue of concern is the rampant exploitation of their data. Thanks to the recent Facebook scandal, the general public is now well aware of the surveillance capabilities built into the apps on their phone. And they're not happy about it. However, it can not be stated enough that society-wide data mining has been taking place for decades. It is our vision that it will not continue in the decades to come. Because there's a better way.\n\nFor brands, the challenge is finding and securing their ever-elusive audience. Sadly, many companies elect to use data mining methods in their quest for customers' attention. Advertisers spend millions building demographic and psychographic profiles of their audience, informed by browsing habits, location data, and internet activity. They also use this plethora of data to decide when and where to place their ads, which costs them millions as well. Isn't it ironic then, that brands so often miss their target by a long shot? \n\nThese are both complex problems. How does Algebraix intend to solve them?\nThe simple answer, is by mending the relationship between advertisers and consumers. \n\nWe will achieve this by empowering users to take part in the marketing process. We will grant individuals true ownership of their data and compensate them in the ALX cryptocurrency for renting it out to advertisers. Each user will finally become the gatekeeper of their personal information. They will also set their own interests and preferences, so that their newsfeed is automatically relevant to them.\n\nIf you're getting our drift, you may have already figured out what advertisers stand to gain from the ALX platform: an engaged audience, acquired quickly. There will be no need to waste time and money, frantically searching for the right market segment to interrupt with ads. Instead, companies will make a straightforward offer to potential customers, and only spend money on those who choose to engage. \n\nHopefully, the ALX model now makes perfect sense to you, as it does to us and the thousands of users already on the app.\n\nWatch the animation above to learn exactly how it works.",
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      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://algebraix.io/wp-content/uploads/2018/04/AdvisoryBoardPR-04-23-2018.pdf",
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