Our personal data is what defines and describes us, differentiates us from every other person. Information like our names, emails, home address, phone number, location data, life patterns when put together will be enough to describe and locate us. Our personal data reveals a lot about us, our lifestyle, sometimes, a lot more than necessary. Data brokers stealthily siphon our personal data, first without our knowledge, secondly without our permission and thirdly, sell our personal data to their customers who might need this information for their marketing needs or for designing a new product without any financial incentives to us. They collect these data from the websites we visit daily, the applications we have on our smartphones, wearables, and desktops.
Data protection has become a global problem since our personal data can be exploited by third parties to commit fraud and other crimes, worse, it can put us at security risk. Consumers are becoming more aware of the current practices of the databrokers and are advertently becoming more data privy, from blocking ads, refusing to grant applications some certain permissions, to disabling browser cookies and accessing websites incognito. What this means is that consumers are becoming less willing to share their personal data or if they must they will instead provide inaccurate data since they don’t trust the party receiving the data and they are no financial incentive for sharing their personal data. So companies are finding it difficult in acquiring the data they need in designing their products in order to meet up with global demand and trend. This has significantly led to a decline in sales and more money spent on the advertisement of products.
But the good thing is that we can monetize our personal data instead of giving them away for free. The Opiria platform is making this possible, a decentralized marketplace for users to trade their personal data directly with companies in line with the current General Data Protection Regulation. Consumers will have full control of their uploaded data which can only be accessed with an encryption key, consumers will be able to decide who they wish to share their personal data with, the particular data they wish to share. The Opiria platform is a fully decentralized platform based on blockchain technology with a set of smart contracts that automates the entire process, making sure that information stored on the platform is immutable and free from external interference, the platform will be transparent, and every transaction will be monitored in real time. Consumers will no longer have to worry about the security of their personal data or what this data is being used for.
Companies will benefit enormously from collecting specific personal data directly from consumers instead of relying on data brokers that may not provide accurate data or the specific amount of data they require about consumers. Eliminating middlemen will significantly reduce the cost of purchasing the personal data.
Monetising consumers personal data, and protecting their data in the process, consumers will have full confidence in the system and will be more willing to share their personal data and companies will in turn benefit from this data which will fuel sales and save advertisement costs.
Important Opiria ICO Links
Website: https://opiria.io
Whitepaper: https://www.opiria.io/wp-content/uploads/2018/01/PDATA%20White%20Paper%2020180118.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=3076122.new#new
Telegram: https://t.me/PDATAtoken
My Bitcointalk Profile: https://www.bitcointalk.org/index.php?action=profile;u=1456130
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