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March 26, 2018, 02:32:45 AM Last edit: March 26, 2018, 09:00:54 AM by AtaCrypto |
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Hello guys ,today I gonna start my marathon of posts about Pdata and Opiria-platform . The posts would be every day at topic Executive Summary Opiria-Platform and PDATA Token are creating a global decentralized marketplace for the secure and transparent buying and selling of personal data. Companies worldwide desperately need personal data from consumers to understand their needs and requirements in order to design products and services that fuel desire as well as perfectly target marketing and sales activities. This is why data brokerage is a 250 billion USD/year industry and personal data the oil of the 21 st century. 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. Opiria-Platform and PDATA Tokens will democratize the brokerage of personal data in a secure, lawful, fair and transparent way, by making use of blockchain technology and the principle of choice - your choice to securely sell your personal data with whom you want with the help of our platform. We give companies access to real, reliable and high-quality consumer data and compensate consumers for their data with PDATA tokens - all the while respecting their privacy, in line with rigorous General Data Protection Regulation (GDPR) guidelines. PDATA - monetize your personal data
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March 26, 2018, 03:01:46 AM |
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Challenge & Solution Companies worldwide desperately need to know their customers. They need fundamental human insights about consumers in order to design innovative products and services that fuel desire, which leads to sales. Companies also need precise personal data from and about consumers to perfectly target marketing and sales activities. Now companies face ever-growing demands for consumer data, as the world becomes more interconnected and new competitors emerge. This is why data brokerage became a 250 billion USD per year business. The data brokerage industry grew by 13.5% in the past 4 years and is expected to grow at the same rate during the next few years. Data brokers operate inconspicuously behind a veil of secrecy and a good number are evidently stealing personal data, packaging and reselling it as a commodity, to companies worldwide. By doing so, data brokers are violating consumers’ data privacy and not even compensating consumers
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March 27, 2018, 02:21:32 AM |
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Consumers worldwide are becoming increasingly aware of these unethical practices and have begun to actively protect their data privacy. This has prompted an ensuing arms race where, for example, consumers blocking their web browsing cookies may be answered by the surreptitious gathering of IP addresses, and so on. This is only one simple and innocuous example. Increasingly tech savvy users and new privacy laws are making it harder for data brokers to access quality personal data. As a result, data brokers may engage in much more sophisticated or veiled methods that can cross to line into questionable practices.
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March 27, 2018, 02:27:27 AM |
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To sum it up, the current system is opaque and uncontrollable, consumers’ privacy is violated, and companies are hardly getting enough quality data to meet their market research requirements. This already leads to failed investments in the double-digit billions. In addition, the General Data Protection Regulation (GDPR) of the European Union becomes enforceable from May 25 th 2018 and will make it even more complicated for data brokers to access personal data. It seems like we are in an accelerating downward spiral with no way to stop or reverse the trend. The good news is that there is a solution for these serious problems! The solution needs to be fully transparent and secure, while providing an open marketplace that enables and ensures the following: ● Consumers can control with whom they share specific personal data ● Consumers get proper compensation for providing personal data ● Personal data flows directly from consumers to companies with no middlemen And that is exactly what Opiria will be doing.
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March 28, 2018, 01:32:44 AM |
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With the PDATA token and the blockchain-based Opiria platform, we want to create a global decentralized marketplace where companies can buy personal data directly from consumers without any middlemen. The PDATA token puts a value on personal data and creates a currency that expresses that value. Consumers can create a profile on the Opiria platform and start disclosing personal data, or granting permission for their personal data to be collected via e.g. a browser plugin, a smartphone app, wearables and smart devices, or through surveys. They can decide which data they disclose to the Opiria database. The more they disclose the more valuable their profile becomes. Companies can ask consumers for permission to access their disclosed personal data via the Opiria platform. Consumers that consent to provide their data would trigger a smart contract between the consumer and the company. On this basis the consumer is paid with PDATA tokens and the company receives the requested personal data.
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March 28, 2018, 01:37:36 AM |
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An important advantage Opiria has over today’s traditional data brokers is that Opiria and PDATA token enable companies to gather directly from consumers - this leads to the possibility of acquiring very specific pieces of personal data that are not otherwise available today from data brokers (e.g. tracking data from wearables, smartphone usage, or eye tracking and browsing behavior on the web). This brings huge added value for companies! The following figure shows how the blockchain-based Opiria ecosystem works, what personal data can be accessed and how consumers are compensated via PDATA tokens for disclosing personal data.
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March 30, 2018, 03:45:09 AM |
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Opiria and the PDATA Token create an ecosystem for the secure trading of personal data while fully protecting consumers’ data privacy and granting them full control over direct payments for their personal data. This fully transparent, open and secure marketplace will motivate consumers to provide data instead of fighting against surreptitious data brokers. Companies get a quick and easy way to access more specific and higher quality personal data - giving them the tools they need to make much more informed and thus more financially secure decisions when designing new innovative products and services, with better targeted marketing and sales activities.
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March 30, 2018, 03:46:29 AM |
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Utility of the PDATA Token PDATA Token provides utility for both the companies and the consumers. Companies need PDATA tokens in order to purchase personal data from consumers respectively to send them surveys. Consumers earn PDATA tokens by selling their personal data and by participating in surveys. Owning PDATA Tokens increases the likelihood for a consumer to receive a “personal data request” from a company earlier than other consumers that own less PDATA Tokens. This gives consumers with more PDATA Tokens on average a small time advantage to sell their data to companies. Table: Utility of PDATA Token Utility for companies ● Buy consumer´s personal data from the database with PDATA Tokens ● Spend PDATA Tokens to send surveys to consumers and receive specific personal data Utility for consumers ● Receive PDATA tokens for selling personal data ● Receive PDATA tokens for participating in surveys ● Holding PDATA Tokens increases likelihood for receiving a “personal data request” from companies
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March 30, 2018, 03:48:04 AM |
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Value Proposition The Opiria platform provides: Consumers ● full control over their provided personal data ● protection of their anonymity ● protection of their data privacy ● proper compensation for the provided personal data Companies ● motivated consumers willing to provide personal data ● accurate personal data ● quick and easy access to high quality personal data ● more specific personal data, such as tracking data from wearables, smartphone usage, browsing behavior on the web, and so on ● better decisions when designing new products and services ● better targeted marketing and sales activities Our Vision Establish PDATA token as the currency that expresses the value of personal data. Enable consumers to monetize their personal data. Our Mission Develop a global decentralized marketplace for the secure and transparent trading of personal data based on the blockchain. Objectives: ● To raise 30 million USD through a token sale, for the development of the Opiria ecosystem ● To develop the PDATA token ecosystem by March 2019 and to have at least a quarter billion consumers in the database by the end of 2023 ● To have 27,000 customers of the Opiria platform by 2023 ● To cover the 50 most relevant countries for market research from all across the world until 2023 (see also chapter Financial Overview of Opiria-Platform Business Plan)
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April 01, 2018, 02:57:41 PM |
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The Challenge The internet has made it easier for any company with a website to launch new products and services. But it’s also easier to waste time and money, and fail. In 2017 almost everything imaginable can be developed and the possibilities for new products and services are limitless. Low entry barriers (children can build simple websites), an increasingly connected world, and the rise of outsource development and manufacturing have led to an explosive proliferation of new products and services, all competing for a limited market share. For example on Amazon in the USA, the number of available products jumped to 488 million from 253 million in only two years (since December 2013). That’s an average of 485,000 new products per day! Numbers similar to Amazon’s can be found in most markets worldwide
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April 01, 2018, 02:59:08 PM |
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The downside and bitter truth of this development is that 70-80% of all product innovations fail, which leads to an annual failed investment of more than 12 billion USD, as pointed out by GfK 2 and Harvard Professor Clayton Christensen . The major reason for failure, according to Dr. Ken Hudson , is that ”new products do not excite customers and retailers“, because companies misunderstand consumer needs and the problem that the product is allegedly solving. The lesson is that in a world in which companies can now develop almost any imaginable product, their success depends on how well they meet the deepest human desires of their target customers. To better serve customers and mitigate the cost of failures, companies are spending more on market and consumer research. The annual revenue of market research companies increased by 55% from 28.9 billion USD in 2009 to 44.35 billion USD in 2015
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April 01, 2018, 03:00:25 PM |
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The rise in spending on market and consumer research should lead to a decreasing number of failed products. But in fact, the opposite is the case! So why does market research provide misleading guidance? There are two reasons: ● Less Data: People are reticent to provide any kind of personal data. ● Fake Data: Many of those who do provide personal data, provide intentionally inaccurate or false information to protect their privacy. This is proven by several studies and reports: ● Giovanni P. et al. 6 show in their study, ”Why are people (un)willing to share information“ that on average 55% of all consumers are not comfortable with sharing any kind of data. This percentage increases to 97% when it comes to private personal data. ● A similar result is found by Till Dziallas 7 , who reports that 50% don't like online surveys and more than 40% don't participate in them. ● A report from Mindi Chahal in the Marketing Week shows that 60% of consumers are providing false information, the main reason being to protect their privacy
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April 01, 2018, 03:02:00 PM |
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The results are clear: it's getting harder to gather personal data from consumers. The underlying reason is consumers’ “perceived privacy risk“, which is defined as the “consumer’s perception of risk when marketers or companies attempt to collect, use, and distribute data or personal data about them and their behaviour“. The study “Willingness to Provide Personal Information Online: The Role of Perceived Privacy Risk“ shows that there's a strong and statistically significant correlation between perceived privacy risk and the willingness to provide personal data. But why are consumers’ “perceived privacy risk“ rising? The evidence shows that consumers are becoming increasingly aware of worldwide data brokerage business practices, and their harmful effects. Steve Kroft from CBS News shows in his article, ”The Data Brokers: Selling your personal information“ that the cause for consumers constantly increasing perceived privacy risk is that so called data brokers are collecting, analyzing and packaging some of our most sensitive personal data and selling it as a commodity - to each other, to advertisers, to other companies, and even to the government. The following figure visualizes how consumer data flows in the worldwide system of one of the biggest player in the US, Acxiom Corporation.
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April 01, 2018, 03:02:57 PM |
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Jason Morris and Ed Lavandera from CNN report in their article ”Why big companies buy, sell your data“ that the data brokerage industry is now a $200 billion-a-year industry and growing. Companies like Acxiom, Corelogic or Datalogix have, on average, 1,500 data points per person of extremely detailed information about every single US household. Michael Gregg´s article on Huffington Post, ”How Data Brokers Threaten Consumer Privacy“ , takes it even further and gives some contemptible examples of how the data brokerage industry is gathering, cross-referencing and storing that data in massive databases - available for everyone!
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April 01, 2018, 03:04:42 PM |
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The following figure shows the current “Personal Data Ecosystem” (Source: Federal Trade Commission FTC) with its several middlemen. One can see how “data collectors” collect personal data from unprotected consumers, then “data brokers” analyze and package personal data before finally selling it to mainstream companies. Now in the era of Big Data, the amount of data being collected is increasing exponentially. Reinhard Clemens, Board member for T-Systems and Group IT, explains that the total amount of data collected in the entire year 2000, is now collected in a single day! That claim is supported by the rapid growth of the data brokerage industry itself, which increased its revenue from $150 billion-a-year in 2012, to $200 billion-a-year in 2015.
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April 01, 2018, 03:05:32 PM |
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US government involvement seems unlikely in the near-term. The Federal Trade Commission (FTC), the US government agency tasked with regulating this industry, admitted it doesn’t even know how many data brokers exist, nor how to regulate them . But the FTC did conclude in its report “Data Brokers: A Call For Transparency and Accountability” that “the need for consumer protections in this area has never been greater.” In sum the situation is as follows: ● Companies need precise personal data from consumers to develop successful and innovative new products and services, and to better target their marketing and sales activities. ● Right now, users willingly provide either very little data or mostly fake data to protect their data privacy. ● The reason consumers worry about their data privacy is that data brokers are surreptitiously collecting, analyzing and packaging sensitive personal data and selling it as a commodity. ● Lack of precise personal data from consumers contributes to the fact that 70-80% of all product innovations fail, which in turn what leads to annual failed investments of more than 12 billion USD.
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