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Saturday, March 31, 2018

Your private data is worth money...and it's already being sold. So, why aren't YOU profiting from it?

The timing for a project like this couldn't be better.  Headlines about out of control data gathering operations have dominated the news cycle over the last few weeks. Along with this, the general public has become aware just how in-demand and valuable their data is, and how many people are out to get it.

Unfortunately, the harsh lesson learned is - your data is already being shared.  Whether though companies we've agreed to allow to do so though terms-of-service agreements nobody actually reads, or private companies scouring social networks in rogue data mining operations.

So if it's going to be shared and sold anyway - why can't YOU be the one doing the selling?

This is the concept behind Opiria's PDATA token (personal data token), a decentralized marketplace to earn income by selling your personal data yourself. Creating a digital economy for exchanging data between consumers and companies.

"Opiria-Platform enables consumers to create a passive income stream by monetizing their personal data. Companies can buy personal data directly from consumers and compensate them with PDATA Tokens. PDATA Token is the currency that expresses the value of personal data and enables its trading by using smart contracts on the blockchain. Opiria platform will connect consumers and companies globally and become the world´s largest decentralized personal data marketplace" explains the company.

Consumers will be given additional layers of control and maintain power over what is and isn't shared, by selecting what specific data to put on the market, and given an extra layer of protection by removing the middle man - data flows directly from consumer, to the company purchasing it.

As I've mentioned in previous articles, when evaluating new blockchain projects the one thing I like hearing the most is that an existing company, already successful in their field, is now implementing blockchain to do things a better way.  Opiria, the company behind the PDATA token already has a working product - and has worked with Fortune 500 companies such as Audi, BMW, Intel, PG&E and many more.

The PDATA token is an ERC20 token.  Data sharing is tied to a smart contract, where a consumer consents to providing their data to a buyer, triggering the release of the PDATA tokens.

The Opiria PDATA public sale ICO starts in just 8 days, and more info can be found at https://opiria.io

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Author: Ross Davis
San Francisco News Desk