How Much is Your Personal Data Worth?
It is not an unknown fact that organizations spend millions of dollars each year gathering data about their consumers. The data helps the organizations create and sell better products to gain a competitive advantage in the market and stay ahead of the curve. With the recent uproar related to data privacy and data mining, the blockchain platform Opiria is giving back control to users.
Opiria, an Ethereum based blockchain platform, plans to create the world’s largest decentralized marketplace for secure, fair and transparent trading of personal data. The current system of data aggregation is opaque and unregulated; customers often feel violated and companies are unable to collect enough quality data to reach their market research requirements. This leads to substantial losses due to improper data collection.
Companies typically will pay the price of a meal for two at a nice restaurant, anywhere between $84 and $251 per e-mail address — assuming that you provide information about your preferences and your attitude towards products and services relevant for that company and allow them to send you advertisements that match your profile Answering a survey can earn you anywhere between $1 to $5 for each survey completed. Research studies tracking browsing behavior combined with Eye-tracking and emotion recognition can get you $30 to $40 for a 30-minute session.
Providing feedback on the usage and usability of a product over a period of 2–4 weeks can earn you anywhere between $50 to $100. Smartphone, laptop, and PC usage (including web browsing behavior and online purchases) can get you $100 per month and keystrokes, mouse movements combined with screenshots every 30 seconds will earn you an additional $2 a day. Access to social media data is an extra $8 per month.
Sharing your data will also earn you significant savings on car insurance (unlike Geiko), by allowing the insurance company to track your speed, location and acceleration and exhibiting safe driving behavior drivers can save between $100 to $300 depending on the type of car. Health insurance can also cost $200 to $300 less by merely sharing data from one’s fitness tracker and showcasing a healthy and active lifestyle. Currently, Facebook earns $45 to $190 per year from your data, Google makes $5,000 per year, per user.
So how does Opiria work?
The Opiria platform uses PDATA Tokens as the currency that can be used to procure and trade data. The PDATA tokens can be used by companies to buy personal data directly from consumers. Customers are compensated using the PDATA tokens which are enabled using smart contracts on the blockchain. The Opiria-platform and the PDATA token system promise to democratize the brokerage of personal data by giving individuals the choice to securely sell their data to the company of their choice, in a secure, fair and lawful manner. The platform also promises to give companies access to real, reliable, high-quality consumer data while being aligned with General Data Protection Regulation (GDRP) guidelines. For the first-time consumers can control who can access their personal information and receive the proper compensation for providing their personal information. Customers can finally choose what data they wish to share via the Opiria database.
The more information they share, the more valuable their profile becomes. Companies can ask the consumers for permission to access their disclosed personal data via the Opiria platform. Once the consumer gives permission for accessing his data, a smart contract is created between the consumer and the company; the consumers is paid in PDATA tokens and his data is released to the company. As the data flows directly from the consumers to the companies, it negates the middlemen or data brokers from the system, who have been using unfair means to acquire and sell data.
With no middlemen, users can expect to earn up to $5,000 per year using Opiria. That’s about 625 beers per year (and we are talking about the good stuff), or 325 pizzas (again, thick crust Italian). Or you can have up to $30,000 extra saved for your retirement, in just a few years!
So what are you waiting for? Your next dream vacation is just a few clicks away. Download the free Opiria app and become a part of the big picture.
