Data Company Opiria Launches PDATA Token ICO for Monetizing Consumer Data, Raises $2,000,000 to Date
Online data privacy is a trending topic these days. As Big Data evolves to become the gold standard for advertising, more and more individuals are becoming aware that their activities online are being monitored. According to a Pew Research survey, nine out of ten Americans believe that they have lost the ability to protect their private data. Just last week, Facebook announced that personal data from more than 87 million of its users had been improperly shared with data analysis firm Cambridge Analytica in 2016.
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The reality is that big internet companies can’t be trusted to protect consumer privacy when their business models incentivize them to do the opposite. It’s become increasingly clear that an industry-wide change needs to be implemented.
Enter Opiria – a data and market analysis firm that provides valuable tools that allow companies to create and distribute surveys to their customers in order to get feedback on their products. Opiria already boasts a well-established client base that includes multiple Fortune 500 companies, but they have not yet come close to realizing their fully potential.
The biggest roadblock in Opiria’s path is the fact that consumers aren’t interested in completing surveys all day for no reason – they need an incentive to do so. To solve this problem, Opiria has decided to develop a platform on the Ethereum blockchain that allows consumers TO USE THEIR DATA AS A SOURCE OF PASSIVE INCOME. At the heart of this new platform is the PDATA token – a cryptocurrency that represents data’s value and can be used by companies to purchase said data directly from consumers.
With the blockchain-based Opiria platform, consumers have far more privacy and agency. They can decide with whom to share or sell their personal data and receive fair compensation for it in return, all without having to trust a middleman. EVEN SOMETHING AS SIMPLE AS A PERSONAL EMAIL ADDRESS CAN BE WORTH AS MUCH AS $80 USD! Why should consumers unknowingly give up this information for free when they can be paid a fair market value for it?
Big data isn’t going to disappear. The reality is that companies worldwide desperately need to understand their customers. Opiria estimates that data brokerage is currently ABOUT A 250 BILLION DOLLAR INDUSTRY and will continue increasing in size over the next several years. Unfortunately, it’s become normal for data brokers to operate discreetly and violate consumer privacy.
To address the problems in the industry, governments are now ramping up regulations for data privacy on the internet. One of the best examples is the European Union’s General Data Protection Regulation which becomes enforceable at the end of May and will make it more complicated for data brokers to access consumer data.
The solution is not for data brokers to begin using even more legally questionable techniques to scrape consumer data. The solution is a transparent and decentralized blockchain-based marketplace for the purchase and sale of that valuable data. The solution is a secure, globally available platform that eliminates costly and untrustworthy middlemen. The solution is Opiria.
Opiria launched its token presale on April 20. The price for 1 PDATA token is $0.10 USD. The ICO goal is $35 million USD, and any tokens unsold by May 31 will be burnt. Opiria will launch the network on the Ethereum platform, but the team is developing the project in such a way that it is blockchain agnostic – meaning that it can be easily ported to other platforms. To learn more, visit the project website at opiria.io.