SRAX Publishes White Paper Outlining Details of Blockchain Technology BIG Platform
SRAX plans to be the first public company to deliver a transparent data management and distribution system through a secure blockchain platform, token reward, and open source governance structure
The 55-page BIG Platform White Paper outlines the plan for what is expected to be the first consumer-powered verified data management and distribution system, when fully developed. With this system, people will be able to own and sell their data.
“Building the tools to unlock the value of data, we published detailed plans for our BIG Platform,” said Christopher Miglino, CEO and Chairman of SRAX. “This is a significant milestone in our efforts to be the first publicly-traded company to deliver a secure blockchain platform, token reward, and open source governance structure for consumer data. A key component of the BIG Platform will be our digital token, BIGtoken, which we intend to register with the SEC. As such, we believe the BIG Platform will be well positioned to operate in a regulated environment.”
Through the BIG Platform, consumers will claim their data and be compensated for it when it’s purchased. The BIG Platform will enable the transparent exchange of verified digital identity and consumer data, and for the first time consumers will be able to interact directly in this process.
“By participating, consumers will be rewarded with a digital token, BIGtoken, for sharing and verifying their data. Developers and media companies will be able to build web destinations, social networks, and utilities on top of the BIG Platform to facilitate data sales or purchases with the complete awareness of consumers,” said SRAX COO Kristoffer Nelson. “We believe we are solving a commercial and consumer problem, and our BIGtoken gives greater validity to blockchain technology and the token market.”