In the wake of the Facebook-Cambrdige Analytica scandal, the ability for individuals to secure their own personal data has become quite the hot button topic. There are numerous proposed solutions to help individuals control who receives their personal data, and under which conditions. One of these projects, Opiria is attempting to to do just that, and they’re using blockchain technology to help them do it through their PDATA token
At the moment, Opiria’s research platform is assisting myriads of Fortune 500 companies like Mercedes Benz, Audi, and a host of many others with understanding consumer needs and their requirements. Personal data is increasingly being thought of as the oil of the 21st century. That data needs to be traded both safely and securely, and only when the person who owns the data allows it.
There are several scandals happening across the globe which prompt a pressing need for a new way by which people can elect to keep or monetize their personal data. Opiria’s platform affords individuals to securely hold their personal data, and distribute it to other companies and individuals only when authorized by the individual. Importantly, individuals would also receive compensation for providing their personal to others; oil isn’t free.
Up until now, there really hasn’t been a way for consumers to monetize their personal data; they have really only given it up as part of a registration process, for which they were never compensated. But with Opiria, companies can now buy personal data directly from consumers.
Moreover, Opiria platform is rising to the needs of consumers by providing solutions via creating of a global decentralized marketplace for a secure and transparent buying and selling of personal data. The currency spent by this platform, or which the platform accepts from these companies is the PDATA token, which expresses the value of personal data and enables its trading by smart contracts on Ethereum’s platform.
In the end, consumers’ privacy is respected even as companies are now aware of the need to know the need of their customers and meet them with basic fundamental human insights.
The solution thus provided are embedded in a fully transparent and secure manner with an open marketplace that enables:
1. Consumers to take control their sharing of personal data
2. Consumers to receive proper compensation when they provide personal data
3. A direct flow of personal data from the consumers to the companies and organizations buying the data, without any companies touching the personal data in-between.
Consumers can use the decentralized Opiria platform and marketplace to create a passive income stream by selling their personal data to companies. Furthermore, consumers can now take advantage of this platform to upload their personal data and create a profile that allows access to their personal data through smartphone apps and surveys