Opiria – creating globally decentralized viable marketplaces for data transactions.

frankiemalton (43)in #blockchain • 6 years ago

Data, and all the technology used to enhance, transport and transact it, is fast becoming the currency of the future. Through blockchain technology and the limitless possibilities it holds, Opiria is utilising this potential to create an application and platform with limitless wealth and potential. Indeed, personal data is the new currency to watch within our fast-changing, quick paced lifestyles. We already know the fact that personal data is incredibly valuable and highly marketable. Just look at the furore caused by the introduction of the GDPR requirements in Europe – many businesses have suffered from the fact that they have had to dispose of pf the personal Data they had stored due to people not giving their permission. This has completely changed the face of the personal data market and made the premium of it even higher.

Opiria fits nicely into the market niche required for the personal data market. Their very own statement states “understand what customers think, experience and feel – optimize products and services”, cohesively stating that by using the Opiria app one is able to coherently create an extremely valuable and simplified way in which consumer data is processed and stored and indeed also shared. The App itself is available for free on both the app store and google play, making it easily accessible for all users.

With the exponential growth of the data brokerage industry, it is prudent that platforms such as the Opiria platform are finding the solution for the huge amount of problems the industry currently faces. These problems include those of uncontrollable systems, open and easily attacked by hackers or fraud. And of course, as already mentioned, the GDPR has made it infinitely more complicated for data brokers to access and distribute personal data. Any cryptographic enthusiast worth their salt knows that the decentralized, transparent and secure nature of blockchain will easily assist thew Opiria application, and make it an excellent way for consumers to be able to share data, receive compensation for sharing such data, and cut out any third party involvement, which is often at risk of hacking or fraud, altogether.

Opiria have what they have called the UPDATE token, which will be used on their globally decentralized marketplace within their blockchain based platform. The platform itself gives the consumer value to their personal data, and also allows the consumer full control over how their data is shared and processed, something which previous systems did not allow. In fact, a massive advantage that comes from the opiria application is that of the fact that it is able to gather this information on a direct path from consumer, cutting out third-party involvement, and utilising the data that can be accumulated from items such as smart watches, wearable trackers, browser behaviour and much much more.

An ecosystem wherein which the consumer is produced and rewarded for data sharing is extremely exciting, and the possibilities limitless. The Opiria app is already being well utilised by many big name companies, from Audi, Procter and Gamble, Volkswagen, Nissan and many more, which has allowed these big companies the ability to understand the needs of consumers and future consumers. The platform also allows for consumers and companies to have the confidence that unethical practices are being undertaken in their names. This only strengthens the trust and faith a consumer will have in each company, thus increasing the revenue able to be predicted and achieved form the brokerage pf their data.

Companies will be able to buy consumers personal data through the use of the PDATA token, and in turn be able to spend the token to survey consumers. Consumers will be able to receive PDATA tokens for the selling potential of personal data, as previously states, also receive tokens for participating in surveys, and as an extra added incentive, be able to earn more tokens, whilst holding onto PDATA tokens, as this brokers more survey requests for personal data from global companies. All of this is covered by the reassurance that consumers have full control over their personal data, anonymity and data privacy protection and a decent amount of compensation for the sharing of their data. Companies, in turn, will gain consumers who are eager to provide their personal data, which will also be more accurate, specific and allow for better marketing strategies.

Opiria allows real-time processes to occur within the data brokerage marketplace. By creating the strategic ‘straight-line’ from company to consumer, it allows the third party centralized method of the past to be eliminated. Company and consumer are connected as much as anyone is connected to the internet today, cohesively and concurrently, without a third party interference. Companies will be able to create a survey, consult the Opiria database to select a suitable profile of consumers to participate within the survey, and then be able to accumulate the results from the survey in real-time, as the consumers participate. The surveys can be as detailed and as involved as the companies require them to be, and there is even the potential within the app for companies to acquire feedback through multimedia capabilities – called a touchpoint. Personally – the far-reaching potential of this platform is extremely exciting, and indeed revolutionary.

Excitingly, Opiria is aiming to add eye-tracking and emotion analysis to their already well-rounded platform. This is incredibly forward thinking, and the data brokerage potential is incredible with these additions. The enhanced nature of this will mean that companies will have an even greater understanding of the data that they are receiving, and the consumers they wish to target. As this platform is decentralized, it increases the efficiency of the brokered data, and stops the problem of where the data is stored, because as with all blockchain technology, the data is encrypted whenever it leaves a device, and public and private keys are required. This high level of security has long been needed for the data brokerage world, and the ability to match companies with relevant consumer data is incredible.

Opiria’s smart contract presence allows for a fast and coherent flow of token sales and payments, fully utilising all of the potentials of the blockchain technological universes. This platform is an exciting and forward-thinking one, which easily has one of the best investment potentials of any blockchain platforms right now. I am very excited to watch this platform grow, and see the results of an excellently crafted platform transpire.