Opiria Business Analysis

nasonn (31)in #ico • 6 years ago (edited)

Opiria is about a new opportunity in the databrokers industry, Opiria is building a decentralised marketplace for the secure and transparent trading of personal data between consumers and companies without any middlemen.

Opiria SWOT Analysis

I will be performing SWOT analysis on the Opiria project to determine some key strength, weakness, opportunity and threat of the Opiria project.

The major strength of the Opiria project lies in the fact that it is not just an idea presented on a Whitepaper, it is already a working project integrating blockchain technology to solve the data problems plaguing the data brokerage industry. Through blockchain technology Opiria will be able to offer transparency, security of data, and seemless and trustless transfer of data between consumers and companies which will bring about the need sanitisation of the industry and instil trust in consumers. There’s a popular adage that “a good market sells itself” and that is true about Opiria. Within a short time Opiria has attracted a good number of customer base which many of them are fortune 500 companies. This goes to show how trusted Opiria is among the largest corporations which will go on to open the door for more big companies to key in.

The Opiria is setting a standard for the data brokerage industry and the success of it will depend majorly on users actually providing correct data. Currently there is no way to ascertain the correctness of consumers’ data but I believe once facial tracking is implemented it will greatly reduce this. Although the mobile app was released over a year ago it’s still a work in progress lacking most of the supposed features like the ability track facial expressions, it has very little visibility, it is yet to get the attention which will attract users, as at the time of writing this, the app has less than 1000 downloads on Google playstore which is not a good thing but I believe once airdrop and referrals programs and social media marketing are initiated it will attract more users.

The data brokerage industry is a multi billion industry and with Opiria solving the current threats to consumers data. The platform will go on to attract an overwhelming number of consumers and companies, in a matter of time, Opiria could rise to the top of the data-chain.
The Opiria platform is providing huge opportunity for companies both small and big to achieve their data needs without spending enormously, the extra money which would have gone to the databrokers will be saved and put into other use. Companies will be able to reach a new milestone in sales due to successful implementation of feedbacks from consumers on the Opiria platform.
For consumers, Opiria is providing an opportunity for them to monetise their personal data instead of giving it to databrokers for free and also let companies hear their voice and design products and services that will suit them best.

The major threat is the current big data players who may try to kick against the success of the project since they know that it’s success will adversely affect their operation. Also they are a few other decentralised companies who are trying to solve data problems in one way or another, they may also try to copy the areas where Opiria has an edge over them and integrate it into their solution.