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The emerging data protocol that is intended to incentivize the exchange of work experience, reviews and professional connections is receiving adoption that is exceeding the expectations of its developers. The initial release, dock.io app (alpha) is experiencing a growth of more than 3,000 users per day, and the team’s telegram group is buzzing with over 9,500 members.
Old systems are weak
This level of adoption is not a surprise, considering how the existing network systems in the professional industry is plagued with fundamental weaknesses. These weaknesses have not only limited the opportunities for users of the various independent platforms, but has also exposed them to the risks associated with centralization and total dependence.
LinkedIn, Upwork, Remote.com and other professional networks have developed into stand alone entities that compete with one another for the limited global membership metrics. This phenomenon has become necessary since the platforms cannot share information among themselves. Worse off in this setup are the individuals who are the real owners of the information, who also engage the services of such platforms.
A typical example reveals itself when a LinkedIn user, after so many years of building up career reputation and resume on the platform finds an opportunity on the freelance platform, Upwork. It will not be possible for this user to transfer such data across both platforms. Therefore, the user either begins afresh to build their profile on the new platform or pass on the opportunities presented.
Blockchain enhanced interaction
By implementing blockchain technology, dock.io introduces a protocol where platforms can connect, making themselves available for data to be interactive across them to the extent that is made available by the real owners. This protocol which runs on the Ethereum blockchain adopts the technology’s security properties, therefore unlike centralized platforms that are subject to hack and other forms of security, dock.io ensures the safety of identities.
Blockchain technology always has a way of creating revenue opportunities. In the case of dock.io, tokens will be used to incentivize applications to share their data with users and other applications. Users will have control over which applications can access and update their data.
A unique incentivization model
These tokens will not be used to incentivize users to share data with applications. It is imperative to motivate applications as opposed to users due to how data platforms currently operate. In the current set up, applications do not share data because their peers and competitors can use it against them to create a competitive advantage. This is a major problem in today’s data landscape. Hence, a token incentive model that encourages applications to share data, not hoard it, is absolutely expedient.
The growth of the project is quick and it won’t be long before app developers begin to code away into the ecstacy of solving a global problem and getting their rewards without any intermediaries.
A platform for stability
The Ethereum main chain upon which the protocol runs offer the benefit of network effect and a strong ecosystem. The protocol which is modeled in the form of Ethereum itself, as a platform to host other platforms will benefit from the scalability of the Ethereum main chain as well. This will enable the accomodation of the influx of apps that is expected in the future.
Easy integration with third party smart contracts and applications, combined with the ERC20 token standard and easy integration with wallets and exchanges makes the protocol very adaptable and ideal for the decentralized ecosystem.