Monetizing Your Personal Data - OPIRIA

ammier (35)in #data • 8 years ago (edited)

Why share your personal data on social media for free when you can monetize it?...

We live in a digital world where information and data seem to be what fuels this 21st century both for individuals and businesses. Data brokerage is reported to hit over $250 billion yearly with a tremendous growth exceeding 13% over the last four years. These data are of high importance as it’s beyond mere researches, thoughts, ideas or innovations, it’s absolutely who we are that is to consciously explain the value attached to it. Businesses rely on these raw truths for the success of any project, even Facebook emphasized on how crucial data privacy is but today, it is stolen from you without your knowledge or consent and sold for big money leaving you the owner on a wasted end.

In light of the aforementioned challenges, it is however evident that the current ecosystem is centralized and is in a need for a total overhaul become. This can be achieved with the utilization of blockchain technology because it caters to a distributive, and encrypted permanent ledger that provides a decentralized, swift and transparent means for transactions while maintaining high-level security.

Having identified the current challenges, Opiria aims to utilize blockchain technology to create an enabling environment for both consumers and organizations. It aims to provide a decentralized platform whereby consumers can freely and securely monetize their personal data and organizations can seamlessly purchase verified personal data without the need for middlemen.

Opiria, a great tool for researchers was created for collecting raw and real-time data from persons coupled with pictures and videos to bring their experiences to life. The platform provides a direct link between customers and businesses to understand their requirements and design better products and services. It runs a global decentralized community where buying and selling of personal data are safe.

THE PLATFORM

Corporate bodies will be able to buy data from data providers through the use of the PDATA token. For example, a company that needs data can browse through profiles of consumers on the Opiria platform. Once satisfied with the profile of the consumer, the company will then send a request and the consumer will be prompted. Upon acceptance of the request, the trade condition will then be sealed in the smart contract on the blockchain. However, upon the finalization of the trade, the smart contracts will then execute the trade order based on the preset conditions between both parties.

The good thing about the platform is that consumers have full control over their data because they own the private keys.

The Opiria platform uses a web-based market research platform that permits corporate bodies and users of these data to have easy access in order to be able to employ them in making better and prompt decisions. With the use of a smartphone, anyone interested in these data can easily go online and get the Opiria app to trade and request these data. For an improved system, the platform allows visitors and users to drop relevant feedbacks and opinions that will be duly maximized for development.

Data brokers are reportedly causing some issues in the industry stealing data from persons to the point of sales for selfish reasons. This amongst many other violations discourages data providers from utilizing their resources. The good news is that Opiria with an open platform already established systems as discussed below to ensure true transparency and maximum security in the digital world.

Where data providers have complete power and the decision over their resources
Where resources are duly rewarded to specific owners
Where there is a direct link between data providers and users without any third party

Aside from data providers benefiting through the discussed ways, businesses also enjoy the platform through the following ways:

Availability of resources for the execution of any project
Access to trusted and valid information
Access to simple, quality and speedy data
Ability to track available data through any device
Adequate marketing tools to generate sales
Efficient information for better decision making

PLATFORM STRUCTURE

To easily access these data, Opiria uses trusted strategies to build it database and legally make data available to end users. Some of the approaches used by this platform are:

Replication of Consumers via Opiria’s Consumers: Due to an existing database, the platform can get individuals and businesses to bring more people on board with a good success story.
AirDrop Campaign: With the use of Opiria app, every new user will be entitled to PDATA tokens for signing up.
Referrals: Another way an existing user benefit is by getting paid in PDATA tokens for inviting others to the platform.
TGE Environment: With a decentralized environment, everyone is allowed to join the platform.

TOKEN

The PDATA Token is an integral part of Opiria and for this reason, emphasizing how it provides utility for individuals and corporate bodies is very important. The PDATA token will be issued in the form of an ERC20 token and will function as a multi-utility token that will be used to fuel the Opiria platform. The PDATA token is required for any transaction on the platform; it serves as a medium for the buying and selling of relevant data. Below is a brief description of how both parties utilize these tokens:

UTILITY for BUSINESSES
• Any business can easily purchase relevant data with the use of PDATA Tokens from the database
• The tokens are also used to send surveys to providers and receive raw feedbacks as at when due

UTILITY for DATA PROVIDERS
• With PDATA Tokens, every data is monetized
• PDATA Tokens are received for every survey feedback sent to corporate bodies
• PDATA Tokens enables data providers to receive jobs from other parties

The token generation event for PDATA is currently ongoing and is expected to end on the 14th of July, 2018.

Total Supply: 750,000,000
Token ticket: PDATA
Platform: Ethereum
Hard Cap: 30,000,000 USD
Current Price: 1 PDATA = 0.1 USD
Accepted currency: ETH

60% of the total tokens will be for the token generation event. 20% will be allocated to the Team, 13% for Development fund, 5% for Advisors, and 2% to the bounty.

CONCLUSION

There are a couple of reasons why I am of the opinion that Opiria will do pretty well.

First, it has an already working product that has proven to be successful and trusted by prime fortune 500 companies, coupled with a brilliant and highly experienced team. Second, this is the very first ICO that's backed by a European Parliament member. Third, it gives consumers the advantage to tap from the ever-growing personal data ecosystem.

TEAM