Have you known a magnificent system that can trade personal data? This is about it. Accurate data on customer requirements help companies to find superior products, better predict the market and stimulate research and development more efficiently. Unfortunately, many of the companies that receive data are incomplete and inaccurate. Where possible, customers avoid sharing their data or providing incorrect information because they do not have the incentive to offer what businesses want. This leads to inefficiencies in the market, because companies try to guess what their customers want and launch unwanted products. At the same time, ‘brokerage data’ has become $ 250 billion, with brokers using sneaky methods to collect and collect customer data, leading to customer resentment. Opiria is of the opinion that it can solve these problems with the introduction of the PDATA token and the Opiria platform, which allows companies to buy their customer data immediately, because customers want to give everything they want. Adequately compensated Customers will also have full ownership and control over their data, in accordance with the following guidelines of the General Data Protection Regulation (GDPR).
The Whitepaper Review
The White Paper offers a lot of scope for dealing with the existing situation and describes the current model of data collection. In essence, the situation can be summarized as follows:
To survive, companies need products that customers are looking for. To know what customers want, companies need customer data.
Customers do not like giving data, so they give minimal amounts or offer false data.
Part of the reason why customers do not want to provide data is that, even if they do not use it, data intermediaries pack and sell them and profit from it.
The poor quality of customer data leads to an error rate of 70 to 80% for new products.
Opiria’s solution to these problems is to ensure that customers have full control over their personal information and are rewarded for sharing with interested companies without intermediaries or other intermediaries who take a percentage.
Opiria App
Opiria already has a product on the market, the Opiria application. Customers can download it, create a profile and share initial information in the form of a survey. Companies can contact these customers for future consultations. The White Paper pays a lot of attention to this subject, but in a few words Opiria currently offers two different types of surveys: furniture searches once and results immediately available at the end and mobile magazines that monitor a customer’s experience with a product or service. Opiria copies other data in the analysis, such as the GPS position of the customer, allowing it to create richer data sets. Opiria says that this method is much faster than traditional approaches to market research and that the platform already provides information “… 50 to 100 times faster and the cost to the consumer who is looking for 95% (compared to traditional methods)”.
Opiria(PDTA) 2.0
The next step for the company, which she plans to complete in September of this year, is the addition of “objective data” to her analysis, particularly eye tracking and emotional analysis. From that moment, the data does not only contain the subjective answers of the client survey, which they say they hear, but the measurements of how they actually feel. Opiria has developed a browser plug-in that tracks eye movements and facial expressions when the client is exposed to a stimulus. nThis will allow a full field of deeper analysis of potential customers, show what interests you and how you emotionally react to different images, words or products.
The Opiria(PDTA) platform
The use of a token is simple. Opiria hopes to create a data market whose currency is the PDATA token. Companies will be able to purchase personal information directly from their customers without intermediaries and customers will be rewarded for sharing. If the demand for personal data increases, the costs of this data also increase. The Opiria platform is growing with Opiria 2.0 and adds monitoring of customer behavior and data from portable devices such as cardiac monitors and smart devices, such as smart scales. The ecosystem is a flow of consumer-to-business data and PDATA corporate tokens to the consumer. The more customers have access to the platform, the more useful it will be. Opiria has several ideas for building the customer base, such as a post-launch at ICO to attract new customers, PDATA’s reference speed for registering friends and a social media campaign. Customer data stays with them and when sent to businesses, it is encrypted. The Opiria platform does not have access to customer data.
PDATA Token
Companies can pay for Opyria safely, even if their campaigns run on PDATA. Opiria will change the fiduciary payment of PDATA to the market interest rate, reserves or free market. Consumers can withdraw money from their PDA as soon as their balance exceeds a minimum number of chips. This threshold the exists “to avoid gas consumption for many small transactions in the blockchain”. The more the PDATA chips have the customer, the higher the qualification within the platform, the greater the probability that they will be chosen for several PDATA profit projects. Opiria says that this model solves the main problems of the sector, even if the intermediaries do not agree. Consumers gain control over their data, privacy and compensation. Companies get better data and a lower price.
The Legal Aspect
The General Data Protection Regulation will enter into force in the EU in May this year, significantly increasing the privacy rights of consumers. The white paper goes on at length, what it means for companies and how Opiria will stay on the right side of the new regulations. One of the strengths of the White Paper is the recognition that all companies operate within a legal and regulatory framework and devote the necessary attention to these frameworks. Many of the responsibilities and exclusions of risks fully explain the commercial, legal and regulatory risks that this project entails, as do all mutual funds.
The Conclusion
It is a strong team with a simple and effective idea that benefits both producers and consumers of personal data. As always, the success of the project will depend on sufficient attention. In this spirit, it is disappointing not to see a marketing specialist among executives, although there may be enough business experience to make it the irrelevant. The idea of the market has an intuitive meaning, even if the platform offers real benefits for companies only if the data is much better than currently available. For this to happen, consumers should be encouraged to provide more information. It remains to be seen whether the PDATA token can offer this stimulus.
Official Links for More Details
ANN Bitcointalk: https://bitcointalk.org/index.php?topic=3076122.new#new
Facebook: https://www.facebook.com/pdatatoken/
Twitter: https://twitter.com/PDATA_Token
Official Web:https://opiria.io/
Telegram:https://t.me/pdatatoken
AUTHOR
Bitcointalk Username: kalindu
Bitcointalk URL:https://bitcointalk.org/index.php?action=profile;u=1503142
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