- Recent poll shows consumers’ increasing distrust towards companies that collect personal data
- As concerns over data privacy grow, SRAX’s BIGtoken platform becomes more relevant
- In addition to protecting personal data, BIGtoken gives users a chance to earn money for providing consumer data
Consumer data is emerging as individuals’ “most ignored and valuable asset,” yet emerging privacy concerns give consumers legitimate pause when it comes to reaping data’s benefits (http://ibn.fm/FBvfn). SRAX Inc. (NASDAQ: SRAX) is on the forefront of these industry trends due to its diligence in protecting consumers while simultaneously empowering them to benefit from their data. While offering consumers unique technology and tools to safely approve and monetize their personal data, access is then sold to marketers that benefit from accurate consumer information and opinions. SRAX accomplishes all of this through its patented BIGtoken platform, which provides compensation to users who provide consumer data.
The Pew Research Center recently conducted a study regarding people’s feelings towards data privacy. The poll showed that consumers distrust the ways in which companies handle user data now more than ever. An estimated 80% of polled adults said that they were at least somewhat concerned with how companies use the personal data that they collect (http://ibn.fm/Op6er).
The number stayed consistent when survey respondents were asked about the control that they felt they had over personal data being collected; 81% said they felt they had little or no control over this data. As data breaches from massive companies such as Facebook continue to hit mainstream news, more people seem to be aware of data-privacy issues.
This increased awareness is creating a growing interest in SRAX’s BIGtoken platform. BIGtoken is focused on monetizing personal data while also keeping it private. This mobile app gives users the opportunity to take control over their data and turn it into financial rewards at the same time. This approach is in stark contrast to most companies, which collect personal data and make a fortune from selling it without paying the consumers who provide the data.
In addition, BIGtoken effectively addresses concerns over the ways that companies have clumsily used personal data. SRAX’s proprietary platform sells access to data while keeping it fully anonymized, thereby providing value to both consumer and marketing stakeholders. While companies gain access to accurate and valuable consumer data through BIGtoken, consumers receive money for providing this data. Bottom line: BIGtoken is a platform where consumers with concerns over data privacy can feel safe.
BIGtoken is a fully transparent platform that offers a valuable opt-in consumer data set. Currently, the mobile app has more than 16 million users worldwide, and that number is growing every day as consumers become more aware of the value of their personal data and the dangers of sharing it.
An additional concern is new privacy laws across the country, which are starting to change the way that marketers can reach consumers. BIGtoken already operates in compliance with those laws, so the platform looks to be a reliable source for accurate consumer data for years to come.
SRAX works across many industry verticals and uses its technology to identify target consumers for brands and companies in the CPG, investor relations, luxury, and lifestyle realms. By integrating data using verified consumer participation, the company provides useful insights to its client brands to keep those brands ahead in the competitive curve.
For more information, visit the company’s website at www.SRAX.com
NOTE TO INVESTORS: The latest news and updates relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX