UBDI Launches Ethical Data Monetization Program for Consumers
Individuals Invited to Profit Directly from $50 Billion Industry by Sharing Trends & Insights from Their Data
UBDI (ubdi.co) announced the launch of the first ethically-sourced data monetization program for individuals in the $50 billion market research industry. UBDI is taking on companies like Facebook, Google and thousands of data brokers reeling from consumer and regulatory concerns about privacy and exploitation of data. The new program allows people to profit by sharing anonymized, aggregated insights from their data.
UBDI is also announcing its partnership with digi.me, a private data sharing platform that allows individuals to securely import and store encrypted data from over 15,000 different sources. Members of the UBDI community will use digi.me to share trend data about their purchases, financial transactions, entertainment preferences, social media accounts, medical history, wearables, and other sources.
“People deserve their fair share from the data they generate every day,” said Dana Budzyn, CEO and co-founder of UBDI. “We welcome forward-looking companies and developers to team up with their customers to do the right thing. The market research industry is just the first of many data-driven industries that have to change.”
“UBDI provides companies with a more ethical and transparent replacement for online surveillance and data brokers,”said Shane Green, US CEO of digi.me and co-founder of UBDI. “Our approach to sourcing data directly from people and compensating them is not only preferred by regulators and consumers, it results in better, more accurate market research and insights for businesses.”
UBDI uses digital currency similar to Bitcoin to provide members a stake in the profit generated from the community’s data. UBDI will have a capped supply of 10 billion digital tokens. They have reserved up to 1,000 UBDI tokens for each of the first million people who sign up to the market research community and up to 10,000 UBDI tokens for the first 10,000 developers who integrate with UBDI or build a new app. Companies must purchase UBDI to pay for access to the data, driving up its value.
“Unlike other digital currencies UBDI can be acquired with data rather than dollars,” said Mark Kilaghbian, co-founder and chief product officer of UBDI. “The more data a member contributes, the bigger their share and earnings.”