In today’s rapidly digitalized world data has become the new currency. As more and more data analytics companies enter the market, copious amounts of personal information is being skimmed and collated from the public and private domains and websites.
The advent of social media, e-commerce, and the Internet of Things (IoT) have created a data brokerage marketplace of over 250 Billion U.S dollars per year. Personal data is being collected and analyzed without proper consent from individuals and eventually is sold to the marketing or research divisions of profit-making organizations. Companies use this data to design and develop products and services based on the consumer insights.
Opiria, an Ethereum-based blockchain platform along with PDATA Tokens, plan to create the world’s largest decentralized marketplace for the secure, fair and transparent trading of data. The current system of data aggregation is opaque and unregulated; customers often feel that their privacy has been violated, and companies are unable to collect enough quality data to reach their market research requirements. This leads to heavy losses due to improper data collection.
The Opiria platform uses PDATA Tokens as the currency that can be used to procure and trade data. The PDATA tokens can benefit companies that buy personal data directly from consumers. Customers are compensated using the PDATA tokens, which is enabled through smart contracts on the blockchain.
The Opiria platform and the PDATA token system promise to democratize the brokerage of personal data by giving individuals the choice to securely sell their personal data to the company of their choice, in a secure, fair and lawful manner.
The platform also promises to give companies access to real, reliable, high-quality consumer data while being aligned with General Data Protection Regulation (GDRP) guidelines. For the first-time consumers can control who can access their personal information and receive proper compensation for providing their personal information.
Customers can finally choose what data they wish to share via the Opiria database. The more information they share, the more valuable their profile becomes. Companies can ask the consumers for permission to access their disclosed personal data via the Opiria platform.
Once the consumer is paid in PDATA tokens, a smart contract is created between the customer and the company, and customers data is released to that company. As the data flows directly from the consumers to the companies, it negates the middlemen or data brokers from the system, who have been using unfair means to acquire and sell data.
Opiria aims to raise 30 million USD through its token sale, which will help develop the Opiria Ecosystem by March 2019. The platform has plans to cover over 50 countries and acquire more than quarter billion consumers on their platform by 2023.
As the platform is decentralized, no regulations can close down the operations of the Opiria platform. For more information on this revolutionary platform and its benefits, visit https://opiria.io/ .
