Data is the oil of the 21st century—and it’s easy to see why.
Data is the number one resource that companies desperately need today due to the sheer advantage it gives in making informed (and profitable) decisions.
Simply put, a company that has a significant amount of data on their customers will have a much lower chance of failing in the market and a much higher chance of turning a profit compared to a company that does not know as much.
Even in the past, companies have always wanted to understand their customers in order to run effective marketing creating strategies or create new products that will sell; this demand for data will never stop which is why data is so valuable to businesses.
However, there is a big problem today in the data industry.
The alarming rate of data breaches and leaks as well as various scandals have brought massive attention to how data is collected, managed, and shared among companies and corporations.
Negative news such as companies illegally collecting data and selling it without the permission of the data owners or downright violating data privacy laws has led to consumers becoming more and more aware of their personal data and privacy.
It’s clear that this situation is not ideal for both consumers and companies; consumers are not comfortable sharing their personal info which leads to a poorer experience in using applications or programs while companies are now starved of quality data to run their business and make informed decisions.
This culminates into inefficiencies in the industry which leaves a huge gap in the market for a solution to fill—exactly what Opiria, a promising blockchain startup, is planning to achieve.
Opiria is a market research platform powered by the blockchain that helps companies with collecting and analyzing consumer data to help them make better business decisions.
That is not the only function of the platform; Opiria will also be building a global decentralized marketplace for the buying and selling of data which will transform how consumers and companies interact with data.
In short, Opiria will democratize the trading and sharing of data to make it fair for all parties involved. Consumers are rewarded with cryptocurrency tokens for sharing their data while companies are able to acquire massive amounts of high-quality consumer data through Opiria’s marketplace.
Opiria’s privacy and security features will also allow consumers to decide what personal data they want to share and who to share it with. This revolutionary approach finally allows consumers to be in full control of their data as well as giving companies a legal and efficient way to obtain consumer data for their business processes.
Opiria was founded by Dr.-Ing. Christian Lange, a successful entrepreneur with a strong technical background and a wealth of industry experience including the impressive achievement building a multi-million dollar company from scratch without any equity investment.
He will lead the team along with co-founder, Marlene Gagesch, to establish Opiria as the pioneer in data decentralization and changing the data industry for the better.
Consumers and companies in Opiria are connected via the PDATA platform which can be downloaded on both Android and Apple smartphones. Once registered, users will have access to the platform’s features depending on the type of user.
For companies, they have the option of creating, distributing, and analyzing surveys which is equivalent to performing market research but better in terms of cost and speed. The surveys are separated into two options: mobile surveys and mobile diaries.
The difference between the two is that mobile surveys are only answered once but mobile diaries can be answered multiple times and they can also track consumer experience of the company’s product or service for a specific period of time.
Companies will have the ability to fine-tune the audience of their survey by using filters e.g filtering by age, location, or country. Once the selected users receive the survey (which happens instantly once the survey is launched), they will answer the survey which is then returned in real-time to companies.
The collected data is also automatically analyzed and aggregated by Opiria which saves a lot of time and money for businesses. To make it easier to digest, consumer data is visualized in detail by Opiria in survey reports which help companies to understand their customers’ perspectives in greater detail thanks to the intuitive data graphics and visualizations.
The process above is estimated to save companies up to 95% in research costs as well as a 50-100x increase in research speed which is extremely significant especially for companies that need to make important decisions quickly.
Opiria aims to add several cutting edge features to the platform later this year which includes:
- Adding objective data tracking and analysis
- Eye tracking to measure consumer gaze behavior
- Facial expression tracking to measure consumer emotions
As mentioned previously, Opiria will also act as a decentralized marketplace for the trading of data between consumers and companies.
Opiria’s data marketplace will function without middlemen which drops the risk of fraud and illegal data practices to virtually zero. How the platform works is incredibly simple; users can see what type of data companies require and subsequently decide if they want to share that data or not.
If they choose to share their data, consumers will receive PDATA tokens as an incentive which functions just like normal cryptocurrencies.
Users can also choose to sell them on exchanges for fiat or trade them for other coins instead of holding PDATA tokens although it does have one benefit; users are assigned a status or level according to the amount of tokens they hold.
The levels are categorized into three stages: gold, bronze, and silver. The higher the level of a user, the more likely they are to receive data requests from companies which basically means they’ll be able to earn more tokens than users with lower tiers.
The more data a user shares, the more valuable their profile will become and the more tokens they will earn, leading to a win-win situation where users earn more money while companies gain more quality data.
With Opiria’s approach, consumers are directly connected to companies without a third-party which establishes a layer of trust that benefits both sides of the relationship.
Aside from sharing data, users can also earn PDATA tokens by inviting other users to the platform or by performing other meaningful actions such as signing up or downloading the Opiria app.
Opiria will be holding a token sale for the PDATA token, the platform’s official cryptocurrency which will be used to power all transactions in Opiria.
Here are the details of the token sale:
Token name: PDATA
Token base: Ethereum
Token supply: 450,000,000
Token sale duration: Pre-sale ongoing (20% Bonus); Public Sale June 16th, 2018 – July 14th 2018
Token sale target: $30,000,000 (estimated)
Token exchange rate: $0.10 = 1 PDATA