OPIRIA AND PDATA: MONETIZE YOUR PERSONAL DATA

crypto4ruby (37)in #data • 6 years ago

In the marketing sector, one thing that should be known is that, product users are the main stakeholder of the industry, and care has to be given to the kind of product and services given to them, due to the fact that they are the ones that get to decide how well a product service is accepted or otherwise. However, as a standard marketing plan, enterprises understand that if they know the personal data of their customers, they will be able to satisfy them more with the kind of services they will be providing. So they invest more energy on gathering of customers data in order to provide the best service for them. However, it is imperative that while gathering data, necessary consideration should be given to an approach that will ensure that data provided are well secured and also those parting with their data are appropriately compensated as this act of providing information would in one way or the other contribute to the growth of the organization’s business. To achieve this, the OPIRIA and PDATA platform has emerged to create a system whereby while providing their personal data, the right to privacy of a consumer is protected.

OVERVIEW OF THE PLATFORM
The Opiria and Pdata is a platform which leverages on smart contract and blockchain technology to create a decentralized ecosystem where personal data can be bought by organizations directly from consumers without the involvement of middlemen. They platform aims to become the world’s largest decentralized data marketplace. This system was created to establish a medium for different users to trade their personal information to marketing organisations in order to guide their products' making decisons such that it satisfies the product users and promote their sales thus enhancing maximal profit generation. The platform ensures that users have total control over information shared as they have the ability to decide whom to share personal information and they also get rewarded based on the quantity of information supplied on the platform

HOW IT WORKS
• A profile is created by users and consumers on the Opiria platform where genuine personal data are updated
• Organizations request for access to data supplied directly from the owner via the platform.
• On release of the data, consumers get direct payment in form of Pdata tokens. This rewards serves as a form of motivation and they are encouraged to do more in terms of supply of quality personal data. Thus, companies are assured of direct access to quality data needed to make their production decisions on the Opiria platform

TOKEN
Tokens to be used on the Opiria platform are Pdata tokens. They are built on the ERC 20 standard i.e Ethereum blockchain and they are responsible for providing access to the Opiria platform. Token is used by companies to purchase personal data from consumers while consumers also earn tokens by selling their data to companies. The more token acquired by a user, the more their chances of being contacted by companies to supply their data, hence the more the reward they obtain.