Datawallet, a California-based C2B blockchain-based data exchange, announced on Monday its new app is now available for download on iPhone and Android. Users are now able to register within the new app, link multiple data sources, and begin to pre-earn Datawallet’s DXT cryptocurrency in advance of the token sale which will commence later this winter.
“Even though the development of our beta version is still ongoing, we wanted to release the alpha version of the app to reward people that are highly engaged in the community and help spread the word about Datawallet. I believe that our pre-earn method, driven by our referral system, is a great way for as many people as possible to own DXT and get in on the ground floor.”
Datawallet noted that upon registering, it allows users to curate an advanced data profile from social media, online commerce, and offline transactions and opt-in to share their data with companies. The company explained that all data is entirely anonymized and may be reviewed by the user at any given time, providing critical benefits such as control over deciding who is a worthy recipient of their data, transparency around how the data will be used, and the ability for users to profit from an asset that is rightfully theirs. The Datawallet ecosystem ensures that the data provider knows exactly what data is being exchanged, and the data is only recoverable by the specific requester signified by a smart contract.
Engel went on to share:
“Through the Datawallet platform, we want to give people data ownership. We want to realize the idea that people are in charge of their data and can realize the true value of their data by sharing it with companies who they deem worthy to have access to it. Users can then be compensated through a crypto token, or in the near future, also through services.
Engel then added:
I expect this behavior to create a virtuous cycle whereby companies that have a good relationship with their customers are able to get better data from their customers, which allows them to create better products and services, which in turn will improve the relationship they have with their customers. Companies who don’t care about their customers, on the other hand, won’t be able to persuade their customers to share data with them, which will put them at a competitive disadvantage. This should ensure that awesome companies can beat their competition even more effectively.”
Datawallet is backed by tech investors such as Tim Draper and Marc Benioff.