The company recorded its first Blockchain-enabled transaction, utilizing its patented system and method to create an opinion and behavioral data economy.
NASHVILLE, TENNESSEE, USA, October 8, 2018 — On Friday, October 5th, 2018, the Opinion Economy’s production network went live and recorded its first fully Blockchain-enabled transaction, utilizing its patented system and method for the creation of an opinion and behavioral data economy. This first survey transaction also marks the start of the Opinion Economy Blockchain (OEB’s) early adopters program, with the launch of the first corporate partners registered as contact and survey agencies on the network.
Ted Waz, CEO of the Opinion Economy, said “It’s hard to overstate the importance of today; over the past two years, thousands of hours of work and effort have gone into making this moment happen, and I could not be prouder of our product team.” The Opinion Economy has designed, patented, and launched a GDPR-compliant Blockchain for the exchange of market research insights. “While it starts with just a small handful of transactions, what we’ve put in motion today will soon disrupt the incumbent global panel and sample value chain. By removing non-value-added middlemen and connecting brands and consumers directly, we’ve developed the keys to unlock over a billion dollars of economic value and eliminated the rampant fraud that occurs in legacy systems”, stated Mr. Waz. The OEB’s technical team, led by CTO Claudio Lima, has designed a production-ready Blockchain network that will be leveraged not only to connect brands to consumers for survey research purposes, but is also the foundation of a Blockchain-as-a-Service infrastructure that has been adopted for use in several other as-yet unannounced vertical applications.
The OEB network enabled self-enrollment for its first Contact Agency, Survey Agency, and Respondents on Friday, October 5th. These parties were then able to complete an automated peer-to-peer transaction within minutes of enrollment, marking the first live transaction. 20|20 Research, a launch partner of the OEB, joined the network as the first Contact Agency and invited a group of “early adopter” respondents to enroll and establish their Opinion Wallets. Isaac Rogers, CEO, of 20|20 Research said “It was quite surreal to see this come to life. So much has gone into making this possible. Years of work and effort led to this moment, and to see the simplicity of a peer-to-peer transaction play out right in front of our team was incredible.”
In the coming weeks, the Opinion Economy’s system will scale out to include tens of thousands of consumers, whose reputation scores, transactions, and engagement profiles will all be tracked in the OEB’s patented distributed ledger. By the end of Q4 2018, the network will have processed tens of thousands of validated survey and behavioral data transactions. Over a dozen brands and research companies have committed to the OEB early adopter program and will enroll into the system by the end of 2018.
While this milestone is an important step for the Opinion Economy and its consumers, it also marks one of the first production-ready Blockchain projects in consumer insights or customer data monetization. Based on the patented system defined in their US Patent 9,990,418, the Opinion Economy will reshape the control that consumers have over their own data, opinions, and behaviors.
About the Opinion Economy
The Opinion Economy is a Consumer Opinion and Behavioral Data Management company leveraging leading-edge Blockchain Technologies, Smart Contracts and Artificial Intelligence, built upon their proprietary Software-as-a-Service platform, known as C-IDEAS, to provide a frictionless experience to identify and capture consumer opinions and behavioral data in an ultra-secure and at the highest GDPR level 1 compliant manner. For more information, contact the Opinion Economy at [email protected], www.opinionblockchain.com or +1 (512) 300-1820
About 20│20 Research
20|20 is the leading expert and innovator in qualitative market research. With 30+ years of experience, the company has developed methods and tools used worldwide for qualitative and hybrid research studies. 20|20 simplifies the connection between researchers and consumers with its unique combination of proprietary technology, skilled recruiting, and client-focused services. The company’s easy, optimized solutions deliver the right insights at the right time, allowing decision-makers to move forward and drive growth with confidence. The company is headquartered in Nashville, with an office in Denver and top-rated qualitative facilities in Nashville, Charlotte and Miami. www.2020research.com