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Spanish Telecom Giant to Trial Blockchain Consumer Data Marketplace

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Spanish telecom multinational Telefonica is to trial a blockchain-based platform that shall we customers promote their non-public knowledge.

The information was once introduced through Wibson, which gives a decentralized information market that permits people to promote “validated” non-public knowledge for a benefit. Telefonica will trial the platform to validate the authenticity of its shopper information, Wibson stated.

The trial will to begin with validate information from customers of Telefonica subsidiary Movistar within the South American nation of Uruguay.

“Telefonica will serve as a notary, helping to verify Movistar subscriber status for consumers selling data through the Wibson marketplace,” the discharge states.

The notary characteristic guarantees that information within the Wibson market is “always authentic, recent, and high quality,” stated Wibson co-founder and CEO Mat Travizano.

Telefonica additionally took a stake in Wibson remaining yr thru its funding arm Wayra, along project capital companies DGG Capital and Kenetic Capital.

Wibson launched its information market again in October, permitting customers in with Argentina, Spain, and the U.Okay. to make use of its cellular app and a customized token (WIB) to earn cash from their information. Once a knowledge transaction is showed by means of a wise contract at the platform, people obtain fee in a pockets at the app.

“The Wibson platform and token provide consumers an easy way to profit from the personal data they create everyday, while asserting full rights of ownership over their personal information,” Travizano stated on the time.

Telefonica Group’s leader innovation officer Gonzalo Martin-Villa stated in Thursday’s remark:

“Blockchain not only allows us to work with new business models related to personal data. It gives us the opportunity to add a trust layer to operations and design new disruptive services”.

Telefonica symbol by means of Shutterstock

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