Companies will be able to purchase your personal data and compensate you with PDATA Tokens Here is what you need to know.
PDATA Token; Secure Trading of Personal Data
Here is the first thing you need to know, there is a platform that allows consumers create a passive income stream. All they have to do is monetize their personal data. That’s right, companies will be able to purchase your personal data and compensate you with PDATA Tokens. This takes us to the first question of the article;
WHAT IS PDATA TOKENS?
PDATA token is a virtual currency which expresses the value of your personal data. This makes it possible for your data to be traded using smart contract on the Blockchain. Remember the platform we talked about earlier? That’s right, the one where you can sell your personal data. It is called Opiria.
Let’s make it clear. Opiria is a platform which is expected to connect consumers and companies across the planet. The platform intends to become the largest decentralized personal data marketplace in the world. Now that you have a basic idea of what we are talking about, let’s delve a little deeper.
HOW PDATA WORKS
Companies across the world need access to consumer’s personal data to understand their needs and to create products that fulfil these needs. As such, the data brokerage industry makes an average of 250 Billion dollars every year. Personal data is now considered the oil of the 21st century.
With Opiria platform, consumers will be able to do just that. Through the use of the PDATA the platform can democratize the brokerage of your personal data. It’ll be lawful, fair and transparent. Furthermore, you’ll be able to sell your personal data in a secure manner to any company you want on the platform through the use of Blockchain.
Opiria is already helping some top companies across the globe understand consumer needs and requirements. They collect feedbacks and opinions from consumers across the globe and in real time through the use of Opiria web-applications and Opiria smartphone apps.
They are currently paying customers to take surveys and partnering with Organizations that offer access to their client database. Some of these companies include;
• Audi
• Mercedes-Benz
• General Motors
• Intel
• Procter and Gamble
• Volkswagen and many others.
All Opiria is doing is to move an existing business with already existing revenue into Blockchain. The team behind the platform believe that they could disrupt the multi-billion dollars data brokerage business with the PDATA token. The ultimate goal is to become the gold standard for companies that are willing to pay for access to consumer data.
The token incentive that consumers are supposed to have access to, combined with the security of the Blockchain technology should make it easier to collect personal data. Consequently, the data brokering market is expected to grow.
WHAT DO CONSUMERS GET?
Apart from a transparent, secure and open marketplace where consumers can sell their data, they also get to enjoy;
• Control over whom they share data with
• Compensation for providing personal data
• Direct dealing with companies (no middleman)
Consumers will be encouraged to create a profile on the Opiria platform. After this, all they have to do is share personal data. Even better, grant permission for their personal data to be collected through their browser plugin, smart watches, smart phones, or through surveys.
Even though a consumer has complete control over what he or she chooses to disclose, the value of a profile grows with the amount of data a consumer discloses. That means the more personal data a consumer shares, the more PDATA he or she makes.
It starts with a company requesting permission to access to a disclosed personal data using the Opiria platform. When the consumer consents to provide the data, a smart contract would be triggered between the consumer and company.
Finally, the consumer receives payment for data provided in PDATA tokens and the company receives the personal data it requested for.
ADVANTAGE OF OPIRIA PLATFORM
The major advantage Opiria offers over most traditional brokers today is the direct link between the companies and the consumers. This enables companies collect specific personal data such as one from a wearable device and from smartphone usage.
Furthermore, the PDATA payment can be exchanged for other cryptocurrency on any exchange platform or fiat. It all depends on what the consumer wants.
THE PDATA TOKEN
According to the whitepaper, one of the objectives of the Opiria platform is to raise $30 Million through a token sale. This fund is expected to be used for the development of the Opiria ecosystem.
The platform is expected to have as much as 27,000 customers by 2013. They also intend to collect data from 50 most relevant countries from across the world till 2013.
The platform is expected to create about 750 Million PDATA tokens which will be sold for 0.1 USD per PDATA token. The price in ETH is expected to be adjusted regularly to reflect the value of the USD. The ICO event is divided into three, these are;
• Private sale
• Public Pre-sale
• Public Sale
The minimum contribution for the private sale is 50,000 USD and is supposed to start on the 19th of April 2018. The public pre-sale starts the next day, 20th of April 2018 and ends on the 4th of May. According to the whitepaper, the pre-sale will have a hidden cap and sales will stop after when this cap is triggered. The public sale will begin 24 hours after that.
The public sale will start on the 5th of May, 2018 and it is expected to end on the 2nd of June 2018. This event is expected to be accompanied with a 15 percent bonus and drop by one percent every day till it gets to 0 percent.
CRYPTOCURRENCIES ACCEPTED DURING THE EVENT
ETH, BTC and XRP will be accepted during the private sale. However, all BTC and XRP participants are expected to provide an ETH wallet address to keep their PDATA tokens. Only ETH will be accepted during the pre-sale and main sale via smart contract.
TOKEN DISTRIBUTION
The token will be distributed thus;
• 60 percent of the coins will be issued for the TGE
• 13 percent of the tokens will be used for data purchase and community development
• 20 percent of the token goes to Company/Team
• 5 percent of the token goes to the Advisors
• 2 percent of the token will be used for Bounty campaign
The next question is simple, how will the funds generated from this event be used?
FUND DISTRIBUTION
The largest percentage of the fund generated from this event will be used for the expansion of the Opiria platform. The developers intend to expand the platform to a global level. The rest of the fund will be used for the development of the platform and growing consumer database.
Source
Website: https://www.opiria.io/
Whitepaper: https://www.opiria.io/wp-content/uploads/2018/01/PDATA%20White%20Paper%2020180118.pdf
Twitter: https://twitter.com/PDATA_Token
Facebook: https://www.facebook.com/pdatatoken/
Telegram: https://t.me/PDATAtoken
Youtube: https://www.youtube.com/channel/UCW3cOXsxLicxZqRt1TFSmLQ
Linkedin: https://www.linkedin.com/company/18291449/
Medium: https://medium.com/pdata-token
ANN Thread: https://bitcointalk.org/index.php?topic=3076122.new#new
Authored by: gbenga88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874687
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4