The following are different markets or services that could benefit from the integration of decentralized professional profiles.
Advertising
- Targeted advertising becomes more useful the larger an advertising network becomes. Advertisers benefit from the ability to target specific customer segments.
- Advertising networks can offer an increased amount of revenue share income to users who are happy to share an anonymised professional profile to the network.
- Professionals would always have the choice on whether they want to maximise their privacy or to maximise financial returns from using the value of their data.
Example - The Brave browsers offers users Basic Attention Tokens (BAT) for viewing adverts on the browser. Serv could collaborate with Brave to let users link their professional profile to the network and provide valuable data to advertisers in exchange for an increased amount of BAT tokens each month.
Decentralized Finance
- The majority of DeFi protocols only offer fully collateralized loans. Quality data is needed on borrowers for good risk assessment.
- Increased data coverage from professional profiles could allow DeFi protocols to train better data models to understand their users and help with risk management.
- In the long term a professional could have a fully verified identity, a large network of professional connections and a transaction history. If the professional wishes to share this data they could benefit from more competitive rates from DeFi protocols.
Example - The Liqwid DeFi protocol could initially provide a small decrease in the cost of a loan if someone offers their professional profile data. This initial data could help produce data models to help assess risk. Over time if professionals can offer more data (e.g. transactions, reputation, connections, better identity assurances) then they could be given an increased benefit such as under or non collateralized loans.
Other ideas to explore
- Data oracles - Investigate linking public data to an oracle or consider a project like the Graph API as a potential way for integration between DApps and protocols.
- Login or data sources for DApps - Professional profiles could be used as a data source or login for different applications.
- Other companies and markets - Travelling sites, crypto exchanges or insurance providers may get value from different data from a professional profile and may want to offer a small incentive in return for linking that data.