FRACTAL’S SOLUTION TO DATA EXPLOITING AND HAWKING IN THE NAME OF ADTECH

One of the three major concerns threatening the free internet that Fractal wants to address is the unaccounted cost of advertising technology (adtech). AdTech is a word that refers to any software and services that are used to deliver and target digital ads. It's the backbone of the Internet ad market, which is expected to rise from $438 billion in 2021 to $1 trillion by 2030, according to GlobalData (https://www.globaldata.com/adtech-drive-internet-advertising-industry-1-trillion-2030-forecasts-globaldata/). It covers the whole ad distribution process, from choosing an ad's content and location to determining its target audience.

In a word, advertising technology connects advertisers with publishers in such a manner that both sides gain by receiving exactly what they want and need. Advertisers represent the demand side, which is seeking for the most effective way to reach their target audience at the lowest possible cost. Publishers and inventory resellers on the supply side hope to monetise their digital assets by placing ads on ad placements (and getting measurements on engagement and other user data).

 
This dual-centric transaction, however, is more than just a market between advertisers and publishers; the advertiser runs effective ad campaigns aimed at high-value audiences, typically by selling data about site visitors or users in exchange for ad inventory from publishers sold at the best possible price. This has always been the goal of advertising in general, and the interplay between the advertiser (demand) and publisher (supply) sides stretches back to the inception of advertising. Technical solutions that could manage the huge number of advertisers and publishers looking to do business together were needed to link the two sides of the advertising equation. That is why it is critical to understand which bits of news are delivered as key news in online feeds, and how the internet gatekeepers — the principal dispatchers of news dissemination – pump them into the Internet's lifeblood. They have the last say on what we will or will not see.

Fractal intends to solve this problem by providing an ultimately free and safer platform for internet users, in which user data will no longer be auctioned in black market trades, enriching only the advertiser and publisher, but also by incorporating the user's consent - their choice of who gets to keep their data and what can be sold to them. To that reason, DeFi isn't the only industry where user data and identity management are vital. Fractal envisions a world where online users are the guardians of their own data. They're working on a blockchain-based infrastructure to support Web3's goal of "a decentralized and equitable internet where individuals own their own data, identity, and destiny." 

To achieve this, Fractal is employing a couple of strategies which includes:

⦁     A Web3 multichain DID that provides critical identity management infrastructure; and

⦁     Changing the AdTech industry from surveillance capitalism to transparency democracy, with improved data markets based on sovereignty and consent.

 
This would in turn allow our users to do things like:

⦁     Retain full, undisclosed ownership of their data;

⦁     Disclose reliable information to a limited number of outside parties (for example, to get personalized adverts and promotions);

⦁     Freedom to share their data with third parties in exchange for fair compensation (e.g. data aggregators, AdTech businesses).

This inefficiency of data management occurs in a sense that service providers collect these underlying data and users personal information in the guise of a required credential. A credential is a document that proves your identity, qualifications, or elements of your qualifications. To demonstrate that a user has graduated from high school, for example, we only need to present a diploma; we do not need to give additional, potentially sensitive information in the form of the underlying grade transcript.

Getting started with Fractal ID

For identity management and regulatory compliance, Fractal ID offers a smooth, safe, and straightforward solution. Consider the following scenario to better understand how a DID works. Assume you're a student who needs a study loan. All essential paperwork demonstrating your eligibility and repayment scheme must be requested by the financial institution. Before accepting your offer, the financial institution must verify this information. If you have a DID, your wallet will generate unique IDs for your credentials that you have a private key for. The public keys for these IDs are then sent to a distributed ledger. You may provide the financial institution these validated decentralized IDs of your credentials, which you can cancel and remove at any time. 

t's also worth mentioning that you can provide access to specific portions of your data to the financial service provider. For example, you might use a DID to exchange financial earnings information with a financial institution without having to provide them all of your contract data.

You may either generate your own DID or have one generated for you by a DID provider such as Fractal. Then you invite issuers (such the government, a school, or a bank) to submit claims for verification. Unlike traditional digital IDs, DIDs are not stored in vendor or organization databases, making them less vulnerable to data breaches and theft. These DIDs may be used for a number of things, including enabling secure and private client KYC, e-voting, tax payments, and event check-ins. Fractal ID technology gives data owners and ID users more control over their data by allowing them to create IDs and keep credentials in their own wallets, with the freedom to choose who those credentials are shared with.

For data owners and ID users, Fractal technology provides transparency and returns authority to users by letting them establish IDs and keep credentials within their own wallets, as well as determine who those credentials are shared with. Fractal also acts as a trustworthy ID validator, doing liveness checks, face matching, source-of-wealth verification, anti-money laundering checks, and proof-of-address checks. As a result, consumers will have a safer web3 experience, and companies will be able to prevent ID frauds, reduce data breaches, and adhere to data privacy rules.