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The world of personal data is big business, and it far surpasses anything kind of figure that you could imagine. Companies are willing to pay good money for accurate personal data that they are then able to put to good use, and the more precise the data is then the better it is for the company.

However, the problem has always been that the owner of the data has been the one to lose out. Other companies have made fortunes out of selling their personal data while they have been left behind and wondering why they are getting all of this spam. Well, Pdata is a company that is going to change all of that, and actually allow people to make money from their data. You can instantly see why this would appeal to some people, but then we need to explore things a bit further to really determine how they are going to be able to achieve this.

The Layout of Pdata and Their System

So, with the new platform you will be able to effectively sell your data to corporations who have always been willing to spend money in order to get information that they will then be able to use in a variety of ways. However, the company behind this system is not new to this entire market as they are called Opiria, and it turns out that they have been paying people in fiat currency for some time now. Basically, they are just taking their pre-existing model and moving it over to cryptocurrency as an alternative way of earning something for your data.

At this moment in time, they have already developed an app that is available for both Android as well as iOS systems, and this app is going to really be at the heart of their system. They will also have a web portal, and the basic idea is that people can log on, complete surveys and other ‘activities’ where some of their data and information is collected, and they are then paid in cryptocurrencies.

As you can see, this is something that has been around for a long time, so they are hardly attempting to change the world in a number of senses. That being said, Opiria have a number of pretty big corporations behind them who are actively seeking the data, so that may very well be a huge draw card.

The Future and Will it Be Successful?

The future of this may indeed be pretty rosy. One of the main problems with projects such as this is users concerns over privacy.

However, that is where the blockchain comes into play because all of the information is stored on an anonymous blockchain, so the privacy of the individual will be protected at all times. Also, individuals are in control of how much data they give to Opiria, including the devices, the type of data, and also when they hand it over, whereas previous systems would give the user no control over this whatsoever.

This is certainly a better approach to take, and it does show the way in which the blockchain can be very useful technology to include in this kind of industry. As long as they push the fact that your information and privacy is safe, then it should mean that there is a greater chance for the entire project to be as successful as they hoped.

Pdata is not unique, but the fact that they already have extensive experience in this field should certainly work to their benefit. They say that they hope to increase their number of users by tens of millions, and even though that is going to prove to be difficult to do, the actual mechanics and the way in which people can earn tokens via this approach is very real and very possible to do. Ultimately, they need to provide enough opportunities for people to share their data to make them feel as if it is worth their while.