Pras Michel wants the users to choose a blockchain-powered cell from the Smartphone market. The Grammy award-winning hip-hop artist believes that smartphone users can control and monetize their data with the help of blockchain.
Michel came into limelight recently after he founded Blacture, which is a blockchain platform. Incidentally, he is also one of the founding members of the Fugees. Through Blacture, Michel is planning to debut the first blockchain-powered Smartphone which will let the users receive payment for sharing data with the internet companies and marketers. The users will also earn money for buying and engaging with the brands.
Recently, at an event organized by Adweek, Michel along with Alpesh H. Patel, who is the co-founder and CEO of Blacture, explained the vision for their Blacture M1 expectation to debut in the latter part of this year. The phone has been built in partnership with Intel and Qualcomm that will have a prepaid debit card from Mastercard. Patel said that his company will come out with its new platform in phases.
While discussing the Blacture’s vision to introduce blockchain technology through Smartphone in the market, Michel stated,” [W]e’re about to see that individuals are now becoming their own IP.” The fact that someone is taking your data and selling it is technically your IP. You are what I call your ‘personal intellectual property and equity.” He further added that in the future, it will be possible for the users to monetize themselves and those monetizing the data will be getting back some of the revenue for sharing the data, ADWEEKreported.
While discussing people’s contribution in shaping the sphere of America’s influence in Atlanta during the 2nd Annual Rise Conference, Michel stated that he particularly formed Blacture for eliciting a long-term renaissance of innovative ideas and products born from black people, Stupid Dopereported. Apart from providing a digital stage for black voices, Michel also aims to pair release of M1 and Blacture.
The very first blockchain-powered Smartphone is expected to launch this fall in the market. According to reports, it will cost in between the range of $350 and $395.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]