Blockchain Allows Users to Control and Monetize Their Data App-by-App
Two thirds of Americans believe that Facebook sells their data, according to market research firm Qriously. Although their impressions are, in fact, incorrect, the survey reveals the high level of consumer concern over inappropriate data usage by marketers. Third party data brokers are responsible for the sale of most consumer data, and in the age of big data, their data collection methods are not only becoming more powerful but also more surreptitious. Mobile apps, screen savers and antivirus programs are helping big data collectors aggregate personal information without the owner’s permission.
A new blockchain company is responding to the collective angst over data usurpers and giving control of personal data back to consumers. South Korea-based AIRBLOC is acting as the nexus between advertisers seeking data for targeted marketing campaigns and individuals willing to sell their data. Individuals can now control and monetize their data rather than a large centralized data aggregator profiting from it, while advertisers are able to more precisely target the data they collect to their target markets and thus improve their ROIs.
AIRBLOC’s ubiquitous DAuth protocol is already disrupting the advertising data aggregation model in South Korea. Marketing data is big business for brokers. Some companies spend as much as 60 percent of their budgets on data acquisition for use in marketing and business intelligence. However, the majority of data aggregation is permission-less, meaning it is gathered and used without the consent of the owner. Data brokers, then, not the data owners get paid for selling the data to the marketing industry.
THE AIRBLOC SDK gives data control back to individuals by attaching its data matching engine to mobile data apps. Applications with an existing user base can allow those users to access the AIRBLOC network. The app user then decides whether or not to share data and what data to share on an app-by-app basis. Importantly, they can track the use of the data. Users have other options to earn rewards. An app user, for example, could approve receiving targeted advertisements from AIRBLOC advertisers but refuse permission to use her personal data.
Security is another pain point following the 2017 data hacks of Experian and Alteryx, which exposed the personal data of over a quarter billion consumers. AIRBLOC brings new levels of security and privacy to personal data management by encrypting and storing data on the secure blockchain.
Data Priced for Every Marketing Budget
The AIRBLOC decentralized personal data protocol has strong marketing currents behind it. The company is owned by Korean data analytics giant ab180, whose clients include over 300 large Korean companies. Over 40 million mobile devices, or two thirds of Korean mobile devices are already part of the AIRBLOC system.
But not only big data marketers benefit. Advertisers can more precisely target data acquisition, which is priced according to supply and demand, in micro-targeted advertising campaigns. The lower costs of aggregating distributed data on the blockchain makes it feasible for small applications and even individuals to sell their data. Small- and medium-sized advertisers previously lacking data access due to the high cost benefit from the ability to buy data at an affordable price.
A running shoe company, for example, could collect direct data from an e-commerce app by asking consumers searching for running shoes about their buying intentions. The shoe marketer could also collect indirect data from users who have given data access permission on running shoe purchases, and apply further filters such as on sex, region, shoe color, and so on.
In exchange for selling data to advertisers, data owners can be paid in two ways. They can receive the AIRBLOC ECR-20 compliant token, ABL, or an AIRBLOC Reward (AIR), convertible 1-to-1 into ABL. AIR is also used to rate the good citizenship of users. Contribution level is rated by the number of AIR tokens held. Total AIR, total data contributed and time influence the Participation rating. Good citizens can rate the data reliability mining—the quality of data provided—of others and earn more AIR rewards.
Symbol: ABL (ERC-20)
Pre-sale: June 16 (2.3 million SOLD)
Token Sale: June 19, 2018
Token Rate: 1 ABL = 0.0521 USD
Available Tokens for Sale: 55.4%
Token Supply: 400 million
HARD CAP: $10.4 million (20,000 ETH) SOLD: $10,427,400
Following the successful ICO funding, AIRBLOC is focused on developing its ecosystem. Ab180 is using 10 percent of the tokens to entice data providers and data users to contribute data based on in demand data from campaigns. The AIRBLOC SDK is already being tested on the majority of South Korean mobile apps. The full release of the AIRBLOC SDK and AIRBLOC data marketplace will take place in the second quarter of 2019.
Roi Nam – CEO & Co-founder
Wonkyung Lyu – Dev Team Lead & Co-founder
Hunjae Jung – Back-end Part Lead & Co-founder
Naeun Kim – Design Team Lead PM & Co-founder
JH Kim – ICON Foundation Council & CEO, theloop, Inc.
Jason Han – CEO, Kakao Blockchain Subsidiary
Richard Yun – COO, Coinplug & Co-founder, Metadium
Sean Lee – Director, Corporate VC, GS Shop
Sungjae Hwang – CEO, FoundationX
Louis Jinhwa Kim – Co-founder/Board of Director, The Blockchain Association
Dorjee Sun – COO, Santiment
Ken J. Kim – Executive Director, SRVC
Seo Wooseok – Adjunct Professor, Kyunghee University
Timothy Yang – CSO, 42 Media Corp.