The Planet’s representative: “The Planet” Turns Consumer Behavior to “Black Diamonds”

    2018/02/09 12:01 Angel lv Created with Sketch.

Cointime (February 09) NetEase is now testing a new blockchain product call The Planet. Once the users register for a barcode, The Planet can trace users behavior and store it in a decentralized and secure system. In return for consumer behavior data, they give Black Diamond which would add up to Energy on The planet’s ecosystem. This product aroused attention.

NetEase Technology’s representative, Gu Fei-Young, said this product is their first attempt at creating business value and ecology by blockchain technology.

Gu answered some questions below.


Q: What is NetEase Planet?

Gu: NetEase Planet is a blockchain technology based sharing platform. It applies blockchain technology to ensure the security for behavior data of platform users.  Every user's credit card data, browsing trails, shopping habits, entertainment preference, and travel experience can tell us more about consumer behavior. These behaviors are all personal and important data asset. The Planet will protect the consumer behavioral data by encrypting and storing it in a decentralized blockchain.

Q: What is Black Diamond? What does it do?

Gu: Black Diamond is a reward for consumer's contribution to our effort. It is blockchain technology based. The more Black Diamonds one obtained, the more energy they have on the Planet. Activities such as browsing, trading, socializing within the planet’s ecology can increase the energy.

The total number of black diamond is constant. The daily distribution is also constant. Every two years, the distributed black diamond value will be cut in half making distribution endless. The distribution will become ½, ¼, ⅛ and smaller numbers, but it will never reach zero.

Black Diamond could only be used by the users. There are no exchanges.

Q: Is NetEase Planet going to trade the consumer behavior with other businesses?

Gu: The company does not store user data. The consumer behavior is stored on the blockchain. All the user data on blockchain can only be accessed through user’s private key. Any third party, including NetEase, cannot access the information without User's permission.

Our original intention in designing this product was to reconstruct business value and ecology with blockchain technology.

Right now, everybody’s online behavior record are scattered on various platforms that provide internet services. And the value of these personal data is neglected. All behaviors in the future can be digitized. Each behavior data can produce the corresponding value. The users time and attention will no longer be free but will become quantifiable resources. Netease planet hopes more companies can join this platform and provide services to build an ecology.

Q: There has been the rumor of Black Diamond trading, what would you say about that?

Gu: That information is false. Netease Planet does not support the Black Diamond transaction. We would like to remind the users to screen information to prevent fraud.

    Adapted from: CoinTime Executive editor: Angel
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