Opiria is revolutionizing the data brokerage industry by creating a central marketplace for companies to buy personal data directly from consumers without a veiled middleman in a fully transparent and secure way.
Companies worldwide desperately need to know their customer. They need fundamental human insights about their consumers in order to design innovative products and services that fuel desire, which leads to sales. Companies also need precise data from and about consumers to perfectly target marketing and sales activities. Now companies face an arms race in growing demand for consumer data as the world becomes more interconnected and new competitors emerge. This is why data brokers – companies that collect consumers’ personal information and resell or share that information with others – collectively the data brokerage industry became a 250 billion USD per year business. The data brokerage industry grew on average 13,5% in the past 5 years and is estimated to keep on growing with at least that rate.
Unfortunately, data brokers operate behind a veil of secrecy and a good number are evidently stealing personal data and packaging and reselling it as a commodity to companies worldwide. By doing so data brokers are violating consumers’ data privacy and not even compensating consumers.
Consumers worldwide are becoming increasingly aware of these violations and have started to actively protect their data privacy. But this makes it increasingly difficult for data brokers to access good quality personal data.
As consumers get smarter, and for instance block cookies while browsing, data brokers´ can simply compare IP addresses. But that’s only one simple and innocuous example. Data brokers can engage in much more sophisticated or veiled methods that are getting even more questionable. In sum the current system is opaque and uncontrollable, consumer’s privacy is violated and companies don´t get enough data that meet their quality requirements. This already leads to fail investments in the double-digit billions. In addition, the General Data Protection Regulation (GDPR) of the European Union becomes enforceable from 25 May 2018 and will make it even more complicated for data brokers to access personal data.
It seems like we are in an accelerating downward spiral with no way to stop or reverse the trend.But the good news is that there is a solution for that serious problem!
There needs to be a fully transparent open marketplace that enables and ensures the following:
• Consumers can control with whom they share which data
• Consumers get proper compensation for the provided data
• Data flows directly from consumers to companies with no middlemen
PDATA Token usage
from consumers without any middlemen. Consumer acquisition strategies include paying consumers to join or take surveys; and partnering with companies to invite consumers from their client databases. The PDATA token puts value in personal data and creates a currency that exactly expresses their value.
Consumers can create a profile on the Opiria platform by disclosing personal data and giving allowance that data is being collected via e.g. a browser plugin, a smartphone app, from wearables and smart devices or through surveys. They can decide which data they disclose to the Opiria database. The more they disclose the more valuable their profile becomes.
Companies can ask consumers for permission to access the disclosed personal data via the Opiria platform. If the consumer consents to providing their data, a smart contract between the consumer and the company is established.
On this basis the consumer is paid with PDATA tokens and the company receives the requested personal data.
Very importantly Opiria and PDATA enable companies to gather more and more specific personal data from consumers than they can get today from data brokers (e.g. tracking data from wearables, smartphone usage or eye tracking and browsing behavior on the web). That´s a huge added value for companies!
The following figure shows how the blockchain-based Opiria ecosystem works, what personal data can be accessed and how consumers are compensated via PDATA Tokens for disclosing personal data.
Opiria and the PDATA token create an ecosystem for the secure trading of personal data while fully protecting the consumers´ data privacy, and granting consumers full control over direct payments for their personal data.
This fully transparent open marketplace will motivate consumers to provide data instead of fighting against surreptitious data brokers. Companies get a quick and easy way to access more specific personal data of higher quali
ty and will be able to make much better decisions when designing new innovative products and services, and better target marketing and sales activities.
In contrast to most ICOs who just sell ideas, Opiria already has a real product with real customers. Fortune 500 companies such as Intel, Volkswagen, BMW, Audi, Mercedes, Freightliner, Procter & Gamble, General Motors and Nissan are already using Opiria. Right now the Opiria consumer research platform is helping companies worldwide to understand consumer needs and requirements. Using the Opiria web-application and the Opiria smartphone app, companies have a direct line to consumers and can get their opinion and feedback, worldwide and 24/7 in real-time.
The blockchain-based Opiria & PDATA Token ecosystem builds on top of that already existing business with already existing revenue. We believe the addition of PDATA Token will disrupt the 250 billion USD per year data brokerage business and become the gold standard for companies to access consumers´ personal data. Furthermore, we expect a growth spurt of the whole business because of the easier and better availability of personal data due to PDATA and Opiria.
“Personal data – the oil of the 21st century”