Wibson, the blockchain-based, decentralized marketplace that enables consumers to privately and securely sell their personal data, announced its three launches: the Wibson mobile app, its native Wibson Token (WIB) and data platform in Argentina, Spain and the U.K.
Placing Consumers In Control
Wibson provides a network in which consumers can sell their personal data directly to data-buying entities such as technology platforms, marketers, advertisers, academics and data-for-social-good researchers.
Wibson’s marketplace puts consumers in control of data selling, as they choose when and to whom they sell their data, with transparent and market-driven offers. These offers display the data buyer, the price, the data that the buyer requests and the buyer’s intended use.
Mat Travizano, the Co-Founder and CEO of Wibson, discussed the value of consumer data and the role Wibson plays in this emerging subsector.
The CEO said:
Consumer data is now the world’s most valuable asset. The Wibson platform and token provide consumers an easy way to profit from the personal data they create everyday, while asserting full rights of ownership over their personal information.
The Wibson Marketplace
Wibson validates its consumers’ data and provides data buyers with direct access to this authentic data. It presents the buyers with clear consent from the consumers, so that their data can be used in fully-transparent, market-based transactions.
The Wibson data marketplace has three types of participants:
1. Data sellers: Individuals seeking to profit from their personal data in a trusted, transparent, market-driven environment.
2. Data buyers: Businesses and other groups, such as academic and social-good researchers interested in purchasing authentic and validated data from consumers directly.
3. Notaries: Organizations that verify and validate the data sellers’ personal data authenticity and accuracy, which also arbitrate disputes fairly and consistently.
Smart contracts oversee the interaction of these three types of participants within the Wibson ecosystem. This system is implemented onto the Ethereum blockchain.
The personal data remains latent on the data sellers’ devices, until they start selling. When they sell, their encrypted data is transferred to the buyer(s).
Wibson does not receive nor store consumers’ data on its servers. The Wibson marketplace coordinates transactions through clearly defined and transparent offers that explicate how the data will be used.
The transactions must be confirmed through a blockchain-managed, smart contract. When it gets confirmed, individuals will receive direct and secure payments in their mobile app and the Wibson Token wallet.
The company has previously been rewarded with funding from DGG Capital, Kenetic Capital, Telefonica’s investment arm Wayra, among others.
Chema Alonso, the Chief Data Officer of Telefonica, believes that Wibson is readying for the future of fintech by reforming the personal dataspace.
The Chief Data Officer said:
Data is fueling growth for the biggest companies in the world, but new models like Wibson’s are emerging to reshape the space. With all the developments around personal data, Wibson is building an impressive team that’s focused on a future when consumers demand control of their data.
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