Wibson, the decentralized marketplace that enables consumers to profit from their personal data, today announced the launch of its mobile app, Wibson token (WIB), and data platform in Argentina, Spain, and the U.K.
Wibson supports consumers’ ability to sell their personal data directly to data buyers, such as technology platforms, advertisers, marketers, academics and data-for-social-good researchers. In the Wibson marketplace, consumers decide when and to whom they sell their data based on transparent, market-driven offers that clearly outline the data requested, price, intended use, and data buyer.
The company has previously received funding from DGG Capital, Kenetic Capital, and Telefonica’s investment arm, Wayra, among others.
“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.”
Wibson provides data buyers direct access to consumers’ validated authentic data and clear consent for its use in fully transparent, market-based transactions.
“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.”
There are three types of participants in the Wibson data marketplace:
- Data sellers: Individuals who are looking to profit from their personal data in a trusted and transparent, market-driven environment.
- Data buyers: Businesses and other entities, such as academic and social-good researchers, who want to purchase authentic and validated data directly from consumers.
- Notaries: Organizations that can verify and validate personal data authenticity and accuracy and arbitrate disputes in a fair and consistent manner.
The interaction of these three roles is governed by smart contracts within the Wibson network that is deployed on the Ethereum blockchain.
With Wibson, data sellers’ data remains on their own devices until they decide to sell, and only then is their encrypted data directly transferred to the buyer. Wibson never receives consumers’ data or stores it on its servers. The Wibson marketplace orchestrates transactions based on well-defined, transparent offers that outline the terms of how the data will be used. Once a transaction is confirmed through a blockchain-managed, smart contract, individuals receive direct, secure payment in the Wibson mobile app.