Blockchain is the natural solution to this data hoarding behavior. The creators behind Dock.io want to create a world where users have full control over their data and companies share data with each other, instead of keeping it in data silos. Users control exactly what data is out there, while companies are prevented from selfishly hoarding data. A win-win situation.
Dock.io, which has created an ecosystem. In its initial use case model, the company envisions itself as something of a ‘decentralized LinkedIn,’ where users can share information such as employment history, educational background, and certified skills.
Based out of the US, the project managed to raise $20 000 000 during the duration of the crowdsale.
The idea is simple: users and companies/applications connect via the Dock.io platform (built on Ethereum). Users can choose which data they upload to which application, with each user-application relationship being recorded in its own smart contract.
Users can choose to share data in an unencrypted or encrypted form. Unencrypted data or ‘public data’ is data that everyone on the network will be able to see. This will probably be non-sensitive data such as name, education history, and location, although what each user considers sensitive or non-sensitive would obviously vary. However, once published publically, the process cannot be undone; the data is out there and publically accessible forever. The second type of data is encrypted or ‘private data.’ This is the default mode. Only users can decrypt this data or authorize an application to decrypt it. This helps ensure that users stay in full control of their data. The data itself will have varying formats, with the company stating in its whitepaper that the community will be able to choose data formats for itself. Of course, a particular data format can only be useful after a certain critical mass. Standardization of data formats is probably a necessary and logical next step for the Dock.io protocol as it matures. To start off, Dock.io will have a resume and work history data format.
In the Dock.io ecosystem, applications are incentivized via Dock tokens to share information with each other. If Application A created the data, but Application B wants to use it, Application B will have to (indirectly) pay Application A for said data..
Going against conventional expectations, users are deliberately NOT incentivized to share their data with applications for Dock tokens. This is where Dock.io’s higher vision comes in; people should realize that their data is much more valuable than they think, and whatever price that is usually paid for them is always too low. The best way forward is for people to value data for its own sake.
The Dock Protocol represents a two-sided market (applications and users). If the protocol cannot attract users from both sides quickly, the network effect would be diminished. Also, the key team members are working on both Dock.io and Remote.com. Although the two ventures have synergies, it is unclear how the team members will allocate their time. Also, being a competitor to LinkedIn is quite a challenge to take.
Overall, the team has a proven track record within this space, as well as access to both industry and blockchain expertise. Their solution fundamentally makes sense to have on the blockchain with its need for transparency and incentive system, and the market they address is substantial. However it will be hard for them to take a marked share from such an established platform like LinkedIn.
