Data Cycles Of 2018
.jpg)
There’s no secret that all of the data you generate online is used in one way or another to make money. Data brokers collect terabytes of data that they then neatly package and resell as a commodity to the highest bidder. The current big companies like Facebook or Google know this very well, and they are using the data to their advantage to create actionable insights that eventually lead to big-time sales.
By some market estimates the data brokerage niche brings a total of 250 billion USD on a yearly basis, with a compounding growth of 13.5% in the last four years. Granted, the companies can purchase easily large amounts of data from these shady data brokers, but by doing so, they are taking a gamble as the data is not accurate all the time. To think that this data goes into creating data products is a scary thing to think about as it could be disastrous for a small company. With the help of blockchain technology, however, this could change for all of the parties involved in the data collection cycle.
Opiria Network: the marketplace for data
With the help of blockchain technology, the team over at Opiria have created a market where personal data can be sold. Users or consumers can register on the platform via an account then they select what sort of information they want to disclose. Companies or organizations then have the ability to shop for the data provided by the consumers. The kind of data available on the platform varies from opinion and feedback related, location data, shopping behavior, device usage and even data from wearable devices.
Once the data request is triggered, a Smart Contract is created to ensure that the parties are held accountable for their parts of the bargain. Consumers then receive fair payment for their data in the form of PDATA tokens. With the help of the blockchain anonymity features and data privacy mechanisms, the consumers can fully trust the ecosystem with the information.
A key feature of the Opiria network is that it allows companies and organizations to directly access streams of data from the consumers’ devices without any middleware software. This ensures the accuracy and reliability of the provided data. Opiria is already a real product that helps Fortune 500 companies to impact their consumers with the help of data directly.
The PDATA token
Naturally, the ecosystem will have its cryptocurrency in the form of PDATA, a utility token based on the popular ERC20 architecture that’s needed to incorporate the Smart Contracts feature. Opiria aims to raise 30 million USD through the token sale to further advance the development of the underlying blockchain ecosystem. On March 2019, the main net is expected to be deployed with at least a quarter billion of consumers projected in the database by the end of 2023. So if you are eager to share your personal data on this innovative data broker platform head over to www.opiria.io to find out more!
You got a 1.70% upvote from @postpromoter courtesy of @beautifulday!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
3.37% @pushup from @beautifulday