Sabine, your startup is providing a possibility how the young generation can earn money by selling their personal data. How does that work?
We are paying GenZ for their unique lifestyle data with our tokens. They just need to downloads our modularly designed App. For additional data the user can connect it to an Apple Watch or another wearable or IoT device for more biometric, environmental, or genetic data that in turns generates additional Tokens. This way we are aggregating and then contextualizing the anonymized data for our customers.
What kind of data we are talking about?
Biometric data ranges for example from motion and heart rate to temperature. Our Kits not only contextualize the data but also select the applicable sensory devices (from wearables to IoT).
Who is interested in this data – and why?
Brands where the body is the centerpiece of their product offering. That’s stakeholders in health, sports, food, media, fashion. There is no longitudinal lifestyle data from a young population to offer personalized products for digital natives or gain insights into GenZ consumer behavior towards health, food, sports, mental wellness.
How does this data add value to their strategy: Can you please share an example?
We developed a case study with FILA Sport to incentivize their customers. If you were running 500 miles you got enough points for a new sneaker. The data is used to incentivize, to create engaging activations, for marketing, trend analysis, or create personalized products for digital natives.
What about data protection – isn’t that information too intimate?
Through Blockchain we can anonymize the data. In 2014 we brainstormed on how to use Blockchain to encrypt biometric data. Today Blockchain and tokenization are empowering data security and ownership and to comply with GDPR.