PData: The First Token-based Personal Data Trading Platform

PDATA is the project for personal data trading that’s based on Ethereum blockchain and allows users to share their personal data and participate in surveys for decent rewarding. In this marketplace, companies can buy personal info in exchange for tokens and use it for marketing campaigns and better targeting. The benefit is mutual, and creators promise full safety of sensitive data. The Opiria platform was launched in December 2016 and is still being elaborated. The company behind it has rich experience and works with various industry giants, such as GM, Audi, BMW, Intel, and other well-established companies. The ecosystem is expected to be fully developed by March 2019, token sale starts in April 2018.

Which aims does this project serve?

Today, security of private life and sensitive personal data is under a huge threat: information is gathered from gadgets, social networks, and even governmental databases without people’s awareness. PDATA is created to solve several major problems:

Illegal obtaining of personal data without people’s consent or even awareness.
In order to protect their privacy, people provide false personal information and fake data.
As the result, companies get no or misleading information about potential and real customers, which hindrances improvement of services and products.

PDATA allows users to get passive income by monetizing their personal assets, which means only those who’re willing to share personal data will be involved. That contributes to a higher quality and veracity of data provided. In the Opiria platform, companies buy personal data directly (e.g. without middlemen) from customers by rewarding them with PDATA tokens.

Users

There are two types of users of PDATA: the companies that purchase personal data and organize surveys, and consumers (clients) who share personal information and get compensation in PDATA tokens for that.

Technical realization

The PDATA project and Opiria platform operate on Ethereum blockchain, which ensures transparency of information exchange and prevents data loss and falsification. The process of data acquisition is organized the following way:

A customer creates a profile in the Opiria platform and starts sharing personal data by filling in forms, going through surveys, or giving permission for personal info to be gathered via smartphone apps, wearables and smart devices, or a browser plugin, etc. The type of data disclosed can be specified.
When a user gives some certain company consent to provide their personal assets, a smart contract between these two parties is generated.
As soon as the company receives the data, PDATA tokens are transferred on consumer’s account.

Such scheme allows for obtaining some specific pieces of data that cannot be acquired simply from browser cookies, browser behavior, and tracking. That brings a great added benefit for companies.

PDATA team
This is a Germany-based company that was founded by Christian Lange and Marlene Gagesch. The team consists of numerous software and app developers from all over the world and works with competent advisors. PDATA partners with well-established companies, for instance, LDJCapital, BlockchainLab, AmaZix, etc.

ICO Details

All in all, 750 mln PDATA tokens will be generated, the price of 1 PDATA token is $0,1.

In order to start fully-fledged development of Opiria ecosystem, the PDATA team starts the public token sale on April 21st, 2018 and will finish on May 21st, 2018. The hard cap is $30 mln, the soft cap isn’t defined.

Prior to the public token sale, the private token sale is organized with the minimal personal contribution of $50.000: by the end of March 2018, the company gathered $1.250.000. Private sale will last until April, 9, and contributors will have a bonus of 50%.

Public pre-sale will last from April 10th to April 20th, 2018, and those who contribute over $5,000 will be rendered a 20% bonus. Pre-sale TGE can a hidden cap: if it’s triggered, the main sale will start within 24 hours, and it will be announced on the website and in social media.
During the first day of the main sale, the bonus will be 15% and will go down by 1% every day. Within the rest 15 days, no bonus will be provided. The maximum personal cap is 1 ETH, but it will last only during 4 hours of the TGE and removed afterward.

During the TGE, payments in ETH, BTC, XRP will be accepted. Residents of all countries will be able to make contributions, except people from North Korea, Syria, China, Taiwan, Libya, Hong Kong, and Myanmar due to governmental restrictions.

Distribution of tokens

Tokens will be distributed right after the contribution of the smart contract. PDATA tokens will be unlocked after one month after the TGE, bonus tokens will be unlocked 30 days after unlocking of the main PDATA tokens. Tokens will be distributed the following way:

Sale – 60%
Development – 13%
Team and company – 20%
Advisors – 5%
Bounty program – 2%.

The team’s 20% of tokens will be unlocked gradually, by parts, to demonstrate that the team’s initiative is for the long run. Funds will be used for technical development of the platform, entering new markets, acquiring local companies, growing customer database, and expanding Opiria ecosystem.

Bottom line

Being a kind of pioneer in its industry, PDATA has all potential to become one of the biggest platforms for personal data trading. It plans to cover 50 most relevant countries for market research by 2023, and it seems to be a possible task considering companies’ need for valuable information about their target audience. From investor’s point of view, though, PDATA isn’t the most attractive project: the minimum contribution during the private sale is too high, and the current crowdfunding sum of $1.25 mln proves that not so many deep-pocketed investors are ready to take risks. Since there’s no minimum or maximum personal cap during the sale, it’s hard to predict how it will end.

For more info, refer to the whitepaper.

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