Airbloc, a consent-based real-time personal data exchange protocol, today unveiled its new product — ABX, a customer behavior-driven and real-time personal data exchange platform based on blockchain.
ABX is a further upgrade with newly introduced features and expanded use-cases compared to Airbloc’s previous product Databloc. Aside from being a customer data marketplace (which was the original concept of Databloc), ABX also serves as a real-time Data Management Platform (DMP) that can be used by enterprises for digital marketing and business intelligence.
Features of ABX
To set ABX apart and to increase its market adoption rate, a few key unique features are serviced to enterprises:
1. Actionable and real-time customer behavioral data to enable enterprises to exchange data in real-time, and send on real-time customer behavioral data.
2. Enterprise-grade data exchange scalability capable of handling high volumes of transactions in real-time.
3. Immediate data utilization through data streaming to allow enterprises to subscribe to data from ABX to their own internal business intelligence or marketing platforms to launch personalized or targeted marketing campaigns to relevant customers directly.
4. Campaign performance tracking and data effectiveness measurement for enterprises to analyze which of their purchased data used for execution in the form of targeted marketing campaigns are useful for user acquisition and conversion.
5. Auditable source of data provenance through blockchain technology to ensure the legality and legitimacy of data exchanged.
6. Ricardian contract and smart contract integration to ensure that reward flows are automatically enforced, instantly and fairly shared with data consumers, data providers, and data subjects (individuals agreeing to monetize their data).
7. ABL token integration with expanded use-cases for data consumers, data providers, and data subjects.
Blockchain elements in ABX
Apart from the above-mentioned features, the Airbloc team is also incorporating elements of blockchain into ABX. Increased emphasis on stricter regulation with regards to consumer data privacy and personal data ownership impose new procedural obligations for organizations processing personal data to return more rights to data owners.
As such, ABX is leveraging blockchain technology to help facilitate more transparent data flows between data owners, data providers and data consumers by creating a fully auditable data supply chain.
Transactions in the form of exchange details, purchases, bids, and data flows will all be recorded on-chain. This is done with the ultimate goal of returning data ownership back to data owners, and to allow data consumers to purchase explicitly consented data with an auditable source of provenance.
There are 3 major overarching applications of blockchain in ABX:
1. Auditable source of data provenance through blockchain technology to ensure the legality and legitimacy of data exchanged. Data can only be exchanged when data consent has been registered on the blockchain. ABX automatically checks for explicit consent registration on the blockchain before data exchanges or purchases can be made.
2. Ricardian contract and smart contract integration to ensure that reward flows are automatically enforced, instantly and fairly shared with data consumers, data providers, and data owners (individuals agreeing to monetize their data).
3. ABL token integration with expanded use-cases for data consumers, data providers, and data subjects.
Adoption use-cases of ABX
There are several ways that data on ABX can be used for targeted marketing campaigns and business intelligence:
1. Issuing time-limited and customized product/service discount coupons (that are tailored to customers’ purchase intent).
2. Sending personalized messages (Push notifications, email, text messages, etc.) that are timely and reflective of customer interest.
3. Exposing personalized advertisements (targeted per each individual)
4. (TBD) Providing real-time recommendation engine as a service (RaaS) (that use third-party data to reveal a hidden agenda of the customer.)
Because ABX is a real-time data exchange platform, delivery timing of these marketing campaigns or business intelligence feedback can be customized to a few seconds to maximum few days (customizable) after the occurrence of certain user behavior.
Airbloc is supported by AB180, a leading technology solutions and big data analytics company in Korea, that has experience supporting the growth of hundreds of industry-leading enterprises — from retail, food, finance, ecommerce, sharing economy, entertainment, to start-ups.
Leveraging AB180’s clout and enterprise connections, product adoption and enablement will first be conducted with local enterprises within Korea, followed by potential companies in the Asia Pacific region. The onboarding process will include a full spectrum of services ranging from solutions consulting, solutions onboarding, solutions enablement, data management, client success, and support.