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RAJ TAPASE | DEVANSH SOLANKI | SIDDHARTH UMACHANDAR | CHIRAG
SHETTY | SHARVAI PATIL
If there’s one thing the Internet lacks, it’s privacy
IS THIS ENOUGH ?
Prevention is better than Cure
Basic insight into Data Breaches
Google’s main incentive in entering financial services is access to data. By entering financial
services, they will gain access to a completely new data source that they can use to make their core
business even more profitable.
much of Google’s revenues come from placing ads next to the results of their clients’ queries. Making
the responses to these queries more accurate, and the ads placed next to them more relevant, will
generate more revenue for Google.
MISUSE OF DATA BY GAFA….contd
Apple
Apple wants its customers to keep buying Apple. They want to make sure your next digital device is
one of theirs. By connecting more aspects of their customers’ lives with their products, they aim to
become a (or the) gateway through which they manage their lives – as Steve Jobs’ famous Digital
Hub speech in 2002 proposed.
Apple therefore needs to extend its offering to finance and banking. To succeed, they will need to
make their customers’ engagement with their bank through Apple a more efficient and “pleasant”
experience than going direct (either physically or digitally).
MISUSE OF DATA BY GAFA….contd
Facebook makes most of its revenues by selling advertising, very much as a publisher would (even
though they do not like to be reminded of that). They provide content their users care for – often
original content created by their users and their friends – and they show them ads relevant to these
posts in the process. The more time users spend on Facebook, the more ads they will see and
therefore the more Facebook will earn.
Facebook is interested in providing financial services for two reasons. Firstly, access to their users’
financial data, to complement the data they already collect on them, would deeply enhance the
accuracy of their targeted ads. But also, providing payments and other financial services would allow
them to go beyond advertising to create new revenue streams.
MISUSE OF DATA BY GAFA….contd
Amazon
Amazon already sell some financial products. They have offered consumer cards for many years and
are looking at working capital finance to support their merchants – all through partners. Most
recently, they have announced the launch of a current account in partnership with JPMorgan Chase.
This latest offering could be indication of new things to come.
MISUSE OF DATA BY GAFA ….summing up
What is decentralization?
Transfer of decision making power and assignment of accountability and responsibility for results. It
is accompanied by delegation of commensurate authority to individuals or units at all levels of an
organization even those far removed from headquarters or other centers of power.
Degrees of decentralization
Using Blockchain
On blockchain networks, data storage is shared across the nodes in the blockchain. The
blockchain includes a ledger of transactions and smart contracts that can be executed
automatically when certain conditions are met.Applications can be made decentralized using
blockchain
Ways to implement decentralization
Other alternatives
Internet creator Berners-Lee has been working on a solution to the problems with today’s
centralized internet. He has created the “Solid” platform, which uses existing web protocols but
allows users to control their own data and store it in a single “data pod” that can be used to
integrate with various applications or platforms.
DIFFERENCE BETWEEN DECENTRALISED AND
DISTRIBUTED SYSTEMS
● CRIME
● VOLATILITY
● STORAGE ISSUES
Decentralization is the new Robin-hood
Thank You! Let’s Start to #BUIDL