🎧 Caria from NuvoSphere Talks Data Ownership in Web3

Russian DeFi
April 14, 2023

This Twitter Spaces recap features Caria, the Co-Founder and CEO of NuvoSphere, who discusses data ownership in the Web3 space.

Caria also talks about the challenges of user adoption and the potential impact of decentralized identity technology.
She introduces Nuvo's new concept called DataFi, where users can control their data and get a monetary gain from sharing it with marketers or projects.
Finally, she discusses the roadmap for Nuvo in 2023 and the importance of collaboration in the data ownership space.

You can listen to the full audio here

Keep reading 🍿 👇️

Panel

• Guest: Caria @CariaW_

• Interviewer: Kadeem Clarke @Crypto_Clarke

Caria introduces the panel by explaining how she is the Co-Founder and CEO of NuvoSphere.
NuvoSphere is here to promote data ownership and to help all projects increase user engagement.
Caria has always been a businessperson and has worked in tech. She also has an MBA degree.
Started working in crypto 4-5 years ago and is experienced in the space. She got into it because of the technology itself.
Her goal is to focus on the data ownership side of things, fix the problems of data ownership being misused, and push people to gain control of personal information.

Caria says it depends on how the technology is being constructed.
She refers to Nuvo, stating that they are developing ways to control personal data.
Whenever you use Nuvo to interact with any projects, you can store that data on the blockchain in the store of Nuvo's development.
This means you completely own your data and can choose who you want to share it with and for how long, etc.
The other supports offline assets, supporting any chain working on or offline.

Caria says that the data is currently managed centralized unless those projects have started to utilize the data ownership technology.
The centralized way usually involves an AWS server.

Caria explains that today, many loyalty programs store your data in our day-to-day lives.
These loyalty programs work to extract user data and record your information on what you buy, etc.
Additionally, Caria explains that based on your demographic, they send your data to unknown marketers whom you have no control over.
You have no idea who has access and who it is shared with, etc.
Caria, therefore, wishes to get back control of your personal information.
She says, imagine one day you need to check in and prove who you are; instead of bringing a passport, you don’t need to prove who you are to be given access.
Caria believes this aligns well with decentralized identity technology.

🎧️ Common questions around data ownership and protection answered 👇️

Caria believes the technology is already here, but it comes down to user adoption.
She says that explaining the importance to people is challenging because many are not used to how the world works entirely.
She explains how it is a total mindset shift and that user adoption will take a little longer.

Caria explains that they currently have two live products serving different user personas.
She says for projects in both Web2 and 3, they can work with Nuvo to improve and enhance their user engagement with people.
She also mentions that users can get their Nuvo ID to store their data with others and collect NFTs.
When you transfer your data to marketers, Nuvo improves the way it is encrypted, making it more secure with the person you tend to share it with.

🎧️ How Nuvo can be used to monetize data today 👇️

At Nuvo, they've introduced a new concept called DataFi, where you control your data, share it with marketers or projects, and in return, you get a monetary gain from this.
You can engage with projects in the future and use Nuvo to push advertisement offers to you while deciding whether you wish to interact.

🎧️ Data transfer value through blockchain 👇️

Caria says that for marketers running ads, it is currently challenging to personalize ads and target a specific target audience.
So, when the data ownership comes into play, they will be able to directly target the users they wish to, based on your data, including your demographic, etc.

🎧️ Impact of data ownership on the ad space 👇️

Caria begins with the idea of proof of membership, which is a new concept with Nuvo.
This helps projects engage with the end-users.
At the same time, they are improving their product UI to make it seamless for all users.
So far, Nuvo is focused on making their products more useful and supporting more projects to fuel growth for Nuvo.

Caria believes it has to impact and be relevant to them.
She explains her personal experience when checking in at the airport and almost getting her passport ID scanned by a random employee under the guise of company policy.
She says once people start having these experiences, they will only have a mindset shift.

🎧️ Here’s what could shift the consumer’s mindset 👇️

Caria does say there are so many similar projects already to Nuvo.
She says they are working with similar projects in the space as they believe in working together over the competition.
She says this way, they can expand and bring more exposure to the space.