OPIRIA & PDATA: The challenges faced by data industry and the solutions provided by Opiria platform

stazhao (61)in #crypto • 6 years ago (edited)

In today’s world where the companies are working hard to innovate their products and services the need for personal data is increasing exponentially. The companies all over the world need to know the choice and requirements of their customers. They need to know everything about their customers in order to develop new products and services which will help them in increasing their sales by targeting the right consumers.

As the world is becoming more interconnected, the demand for personal data is also growing and the small companies are left struggling to meet their demand. According to the latest statistics the data brokerage business has surpassed $250 billion volume a year and is expected to grow 13.5% annually in the coming years.

What is the Problem?

Data brokers are operating in a very discreet manner, they are in fact hiding behind the curtains and are stealing the consumers’ personal data secretly and selling it to the companies all over the world. This way the data brokers are intruding into the consumers’ personal data and violating their privacy. Since the whole business is done secretly, the consumers are not compensated either for their valuable data.

However, the consumers are now becoming conscious of these practices and have started to actively protect their secrecy and hence their personal data as well. This has in fact triggered a race between the consumers and the data brokers, the consumers taking help of the technology to avert the intrusion into their privacy and the data brokers are trying to develop new methods to break into the secrecy fences. The new government regulations are also making it difficult for the data brokers to breach the consumers’ privacy and any such attempt could be penalized. As a result, its getting hard to obtain the quality data which the companies need so desperately.

Opiria platform has provided a solution by establishing a blockchain based marketplace for transparent trading of personal data. The platform connects consumers with the companies without involving any middleman where the consumers can control who they are willing to share their data. The consumers are also properly compensated for sharing their personal data with the selected companies. The third advantage is the secure flow of data direct from the consumers to the specific companies without involving any intermediary.