SophiaTX and Biotron Partner Up to Launch Full Personal Data Appby Fintechnews Switzerland July 12, 2018
Swiss-based blockchain firm SophiaTX is partnering personal data analytics platform Biotron to release the full version of their personal data analytics app, Biotron Data, to the public.
The beta version of the app, was released in May, and has already been downloaded 20,000 times.
The Biotron Data app works by performing permissioned collections of a person’s personal data. Those who consent to share their data receive rewards in the form of BTRN token.
Biotron’s business model is based on saving the data collected and using it to perform a variety of analyses, which it then makes available for purchase by interested parties.
At present, only location data is collected, although with SophiaTX onboard, this is expected to expand to wider data sharing options that will also extend to suit industries like healthcare and transport.
SophiaTX’s blockchain infrastructure facilitates the creation of smart contracts between data users and providers. It also provides the secure, transparent platform that will allow for smoother and quicker transactions to happen.
According to Pavol Magic, CEO of Biotron Foundation, partnering SophiaTX will significantly enhance Biotron Data’s capabilities, empowering both data users and data providers alike. Speaking for Biotron, he noted how:
“Our mission is to empower users to decide what kind of data is harvested and in return, we reward them for each sale.”
“With SophiaTX’s immense capabilities to carry out large amounts of micro-transactions quickly and cost-effectively, coupled with its predefined smart contracts as well as mobile and web wallet accessibility, we believe our project is off to a great start to provide unprecedented user analytics that will help our clients make timely, well-informed decisions,” he added.
Featured Image Credit: SophiaTX