In the US, 20|20 Research has been awarded a patent for a system using blockchain technology to create an anonymous public marketplace for trading and monetizing behavioral and opinion data.
The firm says the approach decentralizes the current 'market research survey value chain' and gives control back to the consumers and the brands, giving respondents more value for their time and insights professionals direct access to data. This is the first patent in the blockchain space for market research and the intellectual property was assigned to a separate enterprise, The Opinion Economy, LLC, earlier this year.
Isaac Rogers (pictured), CEO of 20|20 Research and the patent's inventor, comments: 'This is a model that puts the consumer first and streamlines the entire market research value chain. Respondents get more value for their time, providing the most reliable and impactful data, while brands receive direct access to the highest quality, most reputable consumers. All transparently managed in a true open economy where everyone wins. We couldn't be more excited to see what this holds for the future of market research'.
Web site: www.2020research.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas.