February 13, 2023 at 17:47
Sheridan, Wyoming -
Calgary, AB - Sky High Media, a pioneer in web3 deveolpment, has announced its aim to disrupt the widespread business model of surveillance capitalism and predatory advertising platforms with its cutting-edge Business-to-Consumer NFT platform.
The new platform provides a decentralized and publicly-owned alternative to the current digital commerce infrastructure, dominated by a handful of corporations. This announcement comes amid growing concerns about the negative impact of the existing digital marketplace on both consumers and businesses and a rising interest in alternatives that prioritize their interests.
"Commerce on the internet, which is rapidly becoming the dominant form of commerce in general, is now overwhelmingly funnelled through a few corporate behemoths," said Stephen Iervella, founder and technical director of Sky High Media. "Social platforms and search engines have evolved into digital advertising intermediaries that monetize consumer data for profit. Businesses and consumers, who are now essentially forced to use this infrastructure for commerce, have lost the power they once had to shape its evolution. Instead, they must navigate an opaque landscape of constantly shifting rules made by corporations who are not accountable to the public."
Iervella added that the problem with the current digital marketplace lies not just in its lack of accountability to the public but also in the fact that it is driven by interests that often clash with those of the businesses and consumers using it. Despite this, businesses and consumers are becoming increasingly reliant on these platforms for advertising, selling, researching and buying products and services.
This issue lies at the heart of what Harvard Business School scholar Shoshana Zuboff has referred to as "surveillance capitalism." In this model, users, who were once known as market participants, are provided with a service, such as the ability to share photos with friends, but in reality, the data gathered on these users is used to fuel behavioural futures markets. The data is fed into machine intelligence and transformed into prediction products that anticipate what users will do now, soon, and later.
"In other words, consumers are monitored for the data they generate, and then products and services are pushed onto them based on that data," said Iervella. "This has led to a situation where the ease of faking reviews has driven otherwise honest merchants to engage in fraudulent behaviour just to compete."
"There is a significant potential for antitrust actions and new regulations to disrupt the surveillance capitalist model, and If the model is forcibly disrupted, the proposed NFT platform would be well-positioned as a viable alternative, as it places ownership and control of consumer data in the hands of consumers and would be unique in its ability to comply with new data protection measures. Furthermore, with the growing concern for privacy among consumers following the Cambridge Analytica scandal, there is a growing interest in alternatives to the tech giants of Silicon Valley."
The whitepaper outlining the peer-to-peer NFT platform, which has been written and amended since 2016, is finally set to be released to the public. The document details the company's vision for a decentralized and publicly-owned digital commerce infrastructure that prioritizes small and local businesses.
"When I crafted the whitepaper, I aimed to challenge the prevailing norms and spark a paradigm shift. At that time, the technological infrastructure was not yet robust enough for full implementation.
However, as the understanding and awareness of NFTs and their potential for utilizing publicly distributed ledgers has spread beyond the tech development sphere, it has become evident that substantial amounts of data can be securely and verifiably minted in transactions. The technology has evolved to a point where it is now ready to realize its potential as the next iteration of the internet."
Sky High Media's announcement marks a significant step forward in the Web3 NFT movement and a major challenge to the current digital commerce landscape.
The company is poised to revolutionize the way we think about and participate in digital commerce interactions, putting the power back in the hands of consumers and small businesses. For more information visit https://skyhighmedia.com.
For more information about Sky High Media, contact the company here:
Sky High Media
1-587 209 4054
99 Spruce Place SW
Calgary, AB Canada