To remain competitive in today’s markets, companies desperately need an advantage over everyone else. Knowing your customer might just provide this edge by leveraging personal data to create and design actionable insight products that ultimately fuel the consumer’s desire to buy. To make this a reality, precise data must be sourced to target the exact groups with the sales activities.
The data brokerage market has an estimated 250 billion USD in it per year with an expected compounding growth of 13,5% in the past four years. However, these data brokers act in a veil of secrecy, and frankly, the majority of data brokers are just stealing personal data, that in turn they package up and resell it as a commodity to companies worldwide. Needless to say, the consumers’ data privacy is broken and no compensation is ever received for the relayed data. Consumers are getting more and more aware of this issue and measures must be taken to stop this bleeding of a potential passive income for almost everyone!
Opiria: the democratization of data
With the help of blockchain technology, Opiria has created a marketplace where consumers can share their personal data and companies can buy it directly from the source with the total safety on the blockchain platform. Once the requested data is relayed to the organization or company, a Smart Contract will be created, and the consumer will receive compensation in the form of Pdata tokens. The types of data available on the platform would be the following:
- location data
- shopping behavior
- eye-tracking data
- device usage
- smart devices data
- data from wearables (heart rate, activities)
The full Opiria cycle
As the Opiria platform is a fully transparent endeavor that acts as a marketplace for trading personal data in a secure and scalable way without any shady middlemen. Consumers will create an account on the platform and choose what kind of data they want to disclose for sale; companies will then contact the consumers of the type of data they want and create a Smart Contract that ensures the final consumer gets paid in the form of Pdata tokens. The principal advantage of the Opiria platform is that the companies can directly access the requested data from the consumer.
Thanks to blockchain advantages like Smart Contracts this is possible as both parties will be held accountable in a programmatic way by the system. By having the right data companies will create useful insights into the market, and the consumers will finally be able to monetize the information that otherwise is just given away for free.
With regards to the token sale, a hard cap of 19 million USD has been set. Users who invest by the 25th of March 2018 will get a 50% discount. All unsold tokens will be burnt to ensure a stable capitalist model. Opiria will allocate the raised money towards marketing and sales, database infrastructure, HR services and research into emerging markets. For more information about this innovative platform head over to https://www.opiria.io!