Today we are going to review a new blockchain company called Insights Network. This company works with data gathering and exchange and it will be having an Initial Coin Offering (ICO) soon.
What Is Insights Network?
Insights Network describes itself as a blockchain-based data exchange. The main objective of this company is to let the users have more control over their own data. Today, many companies all over the world own your data, which is very valuable. Facebook, Google and Twitter, to cite only a few examples, collect a huge amount of data from their users and they completely own it.
This company wants that to stop. If you produce your own data, that data should be only yours. Because of this, it has developed its own platform.
How Does Insights Network Blockchain Data Exchange Work?
Basically, Insights Network combines the use of the blockchain tech, smart contracts and its own technology to enable its clients to take charge of their own data. They will be able to block the access of the companies to their data, secure, own and manage it. This means that they will also be able to monetize it by selling it in the market. The results of this technology can be verifiable via the blockchain.
The core of this system is the INSTAR token. You will be able to use them to purchase advanced datasets and they will be your reward for selling the data to the company. By using the Insights Wallet, you will be able to control the private keys to the data that you produce yourself. The company also offers micropayment transactions that are near zero.
The company has created a symbiotic network that is supposed to protect both sides of the market, the requesters of data of data and the providers. The transactions will be anonymous and be made by smart contracts, which will be good for both sides.
The technology of the company is built via EOS and it uses secure multiparty computation to ensure that the data is store and validate it with the blockchain data.
How To Invest In Insights Network INSTAR ICO?
Insights Network is having an Initial Coin Offering (ICO) soon. Participating in this ICO might be your best way to invest in this company and buy its INSTAR tokens for the lowest price. 35% of the tokens will be sold during this sale (5% were sold during the pre-ICO).
The pre-sale has been already finished, so unfortunately this door has closed. Don’t worry, though, because you can still invest in Insights Network right now, you will just have to wait for the main ICO, which begins in February 14.
Before you invest, you have to register in the site. You should note that you should only use ETH to buy the tokens, as any other currency is not accepted.
The Insights Network Verdict
Is Insights Network the right investment for you right now? It can be. Insights Network seems to understand very well the market in which it is trying to actuate and the company has an interesting idea: to secure your information to you. By buying the information instead of only taking it, it is sure that this company will achieve an interesting level of success in the market.
Not only that, but the team that has created the company seems to be very well regarded, including founding members which came from prestigious schools like Stanford. Because of this, there is a good chance that you might want to invest in this company if you are looking for a profitable investment.
Should you invest in Insights Network? That is completely up to you, but we can certainly assure that investing in this company would not necessarily be a bad investment and that there are chances that you might end up getting a nice return on investment if you decide to invest in a company that works with something as valuable as the data market.