Data collection firm Delvinia has announced a significant investment in Measure Protocol, a blockchain-powered marketplace that gives users control of their own data.
Measure Protocol uses blockchain technology to address growing concerns around fraud, privacy, transparency and consumer participation rates. Research respondents who use Measure Protocol's mobile app get paid to complete surveys and connect personal data sources such as location, health and purchase history from their online store accounts. Those who buy the data—including researchers and marketers—can target specific groups of consumers based on their extensive profile and behavioral attributes, all protected using advanced cryptographic techniques.
For Adam Froman, founder and CEO of Delvinia, this investment is all about building the future of how data is collected and exchanged, ultimately giving consumers control of their data. “We’re in a major period of transformation for the data collection industry where all players will need to adopt new practices to improve data quality,“ Froman explained. “Pioneering technologies like Measure Protocol significantly deepen the levels of trust that are—and will be needed—to power data into the next century. And it puts Delvinia ahead of the curve. As significant investors, we’ll be one of the first data collection companies in the world to use the protocol once it’s fully developed.”
With this investment, Measure Protocol plans to extend its core development work into advanced cryptography for protecting consumer data and profiling, while also using the investment to launch its consumer facing application business in the second quarter of 2019.
“Delvinia is the perfect investor to help accelerate our vision of advancing how research is conducted, using blockchain to ultimately improve data quality,” said Owen Hanks, CEO and co-founder of Measure Protocol. “We wanted collaborators who share in our vision of putting the control back in the consumer’s hand and value the user experience. With Delvinia, we now have a partner on our scale of making bold moves to better the industry.”