O2O – The Blockchain answer to Cambridge analytica
Mankind has entered the data age. It is estimated that a millennial human, who lives a connected life, will generate hundreds of gigabytes of usage data across their devices. In fact, it’s expected that humans will generate close to 44 trillion gigabytes a year. This data is a goldmine for businesses, as the inferences drawn from it can used to appeal to these same individuals, ultimately selling more products.
Today, the main data generator is the smartphone. Large corporations work with data operators around the world to procure huge amounts of non granular data to run business analytics on. If the data is granular, it is most definitely a breach of customer confidentiality, and several companies, including Facebook, have been taken to task for this.
But what if there was a way to provide a real incentive for people to share their data, so businesses can use it with the user’s consent? That’s exactly what O2OPay is trying to do.
Earn money with your data
The model of the O2O platform in the B2C industrial world is a collection of information using big data technology. This platform will collect data from billions of smartphone sensors following an agreement with users including access to their basic data. The users will be rewarded with O2O tokens.
On the B2B end, the O2O platform will tie up with business partners who will benefit from the data too. In all this, the O2O token will be the primary source of payments. This token is based on a smart contract powered by the Ethereum blockchain. It’s going to enhance crypto commercialization by organizing an O2O ecosystem that will be made of the token, smart contracts, and a payment method.
Managing data with the blockchain
Through the O2O platform, customers actively share their data with businesses, and can track every bit of data that they have shared in return for O2O tokens. O2O have committed to sharing data only with users’ consent, and only offering it to the companies that need it for legitimate purposes. There will always be a reward for data sharing.
The company also has a payment solution for O2O tokens, and have partnered with the Korean-based VD Pay. The VD Pay system has been facilitating e-commerce payments in China for over a decade.
- Total Supply: 3,432,000,000 O2OTokens
- Type: ERC20 Tokens
- Pre-ICO: April 18 – May 3
- 1st ICO: May 7-May 25
- 2nd IC: May 30-June 17
- KYC Requirements: After the final ICO
The Future and Our Take
O2OPay’s next big focus is on the IoT boom. With billions of devices already connected there will be much bigger data sets, something many businesses will benefit from. The blockchain aspect will ensure security and the tokenisation will ensure a solid incentive for users.
It comes down to the execution of 3 things:
- The token hitting an exchange, so there is value and liquidity to it
- Finding enough business partners with the need for granular data
- User acquisition to get enough users involved in the O2O platform
It is up to the team to execute these three things and this should be a viable and extremely useful project to back.
Visit O2Opay – https://www.o2opay.io/main/ico.do?lang=en