PData: Choose Who Deserves Access to Your Personal Data

PDATA is a decentralized secure platform for trading of personal data. The platform is based on the Ethereum blockchain technology.

Technology has really influenced and changed business in a most remarkable way. It has created a new way for businesses and companies to know their customers.

Businesses are always seeking out better ways to know their customers and this is a global challenge.
This means that companies are seeking out insights into fundamental human behaviour and data that can take them into the basic buying behaviour of humans and more basically their customers so that they can design products that meet these needs which will in-turn drive up their sales and lead to impressive profits.

Companies also need the personal data of their customers and consumers so that they can properly direct their sales and target marketing efforts for a better result. This means that the demand for consumer data is really growing.
In other to benefit from this trend and opportunity, the data brokerage industry emerged. The data brokerage industry is currently a more than $250b USD annual sales industry globally and it is bad enough that none of these proceeds is coming back to you since your personal data amounts to part of this booming business. The industry has grown by more than 13% in the last four years and is projected to grow at the same rate for the next half-decade.

Data brokers, on the other hand, operate a rather secret data gathering venture that thrives on stealing the personal data of consumers. Consumers are also becoming increasingly aware of this and are now making efforts to protect their personal data.

However, the current system of the industry has proven not to be in the best interest of the consumer as consumers do not control the system which violates their privacy.
Companies also do not get the right amount of data which they need and the quality of the data most times does not satisfy the needs of these companies. This calls for a better solution. For this reason, PDATA was created.

PDATA’s Vision
The vision of PDATA is simple – to provide a globally decentralized marketplace for the trading of personal data, thus, the name; PDATA. To achieve this vision, PDATA is leveraging on the blockchain technology. This vision will no doubt disrupt the data brokerage industry.
An ecosystem where both big and small companies can purchase consumer data directly from the owners of these data is the platform that PDATA is building. The data owners get paid in PDATA tokens for providing their private data to the company that needs it.
The solution which PDATA is providing completely eliminates the role of any middleman in the data brokerage process. This will unlock the value of personal data for the consumer.

Token
PDATA Tokens are digitally cryptographic tokens based on the ERC20 standard. Holding the PDATA token does not grant any dividend right to the holder from the platform’s revenue. The PDATA Tokens are traded on the platform by using smart contracts.

Conclusion
The PDATA platform is basically putting the power in the hands of consumers to trade and put their data in the hands of whosoever they deem fit.
The Ethereum blockchain technology would also ensure that transactions on the platform are done in the most secure and transparent manner. To gain more insight about this project or know about how to participate in their token sale, kindly click any of these links; website, whitepaper, telegram, twitter, facebook