Wibson Has Launched A Blockchain Marketplace That Allows Users To Profit From Their Personal Data
Wibson is a company that was established to a decentralized market that has been able to allow various consumers to profit from their personal data. They have just announced the launch of their mobile app referred to as the Wibson token (WIB), plus the new data platform that is in Spain, UK, and Argentina.
More On The Company
The company has been able to support the consumer’s ability to sell personal data to the different data buyers in the market; this is from advertisers, technology firms, marketers, data for the social good research, plus academics. In the platform's marketplace, the consumers have been given the free will in deciding who and when they can sell their personal data, which has been based on transparent and market-driven offers.
The offers presented clearly outline the kind of data that is being requested, the intended use of the collected data, price, plus the data for the buyer. Previously the company has been able to receive some funding from DGG Capital, Telefonica’s investment arm, Kenetic Capital, Wayra and many more.
According to the CEO and the co-founder of Wibson, Mat Travizano, consumer data has been considered to be the world’s most valuable asset. Thus, the platform has been created to provide the consumers with an easy way they could profit from the data that they are able to develop each day. All this has been made possible while still asserting the ownership over their personal data.
But this is not all as the platform will also offer the data buyers direct access to the consumers validated data and also receive an explicit consent to use it in full transparency in market-based transactions.
According to the Chief Data Officer of the Telefonica, Thema Alonso, he states that data has been able to fuel growth for the big companies that are around the globe, but with the new model entering the market scene, like Wibson, they are slowly reshaping this space.
There are a few developments that are taking place around the personal data arena; thus, Wibson has gone ahead to build a very impressive team that will be focused on the future when the consumers will be demanding control on their data.
The Wibson Marketplace Has Three Types Of Participants
• The first is the data sellers – These are individuals who are looking to make some extra profit from their personal data in a transparent and trusted space one that is a market-driven environment.
• The Data buyers – These are entities plus various businesses; the likes of the good social researchers, academics who are looking to purchase some authentic and validated data.
• The Notaries – These are the organizations that are able to validate and verify the personal data that has been presented by the buyers in the platform. To ensure the buyers get accurate information, they also arbitrate any disputes that might arise during transactions.
The interaction that takes place within these three roles has been carefully governed by the use of smart contracts in the Wibson market. The contracts are deployed on the Ethereum blockchain.
The benefit of the Wibson platform is that the data for the sellers will remain on their own devices until the moment they decide to sell it. And at this moment is when their encrypted data is directly encrypted to the data buyers on the platform. The company has ensured they are not responsible for the seller’s data as they don’t receive or store it, just to ensure the sellers have complete control.
This is not all as the platform has been designed to ensure it is able to orchestrate the transactions taking place in a transparent manner. Plus, the offers made on the platform properly outline how the seller's data will be used. As soon as a transaction has been confirmed through the companies blockchain managed smart contract, the sellers will receive a direct and secure payment through the company app.