UK-based Measure Protocol, a blockchain marketplace for person-level data, has raised £2m in a funding round led by digital data collection specialist Dynata and venture firm Blockchain Valley Ventures. Medical fieldwork business Medicys also took part.
Measure Protocol was launched in 2018 to address concerns around fraud, privacy, transparency and consumer participation rates in the market research and data industries. Last year, the company launched a pilot program to help research agencies and brands understand how blockchain works on a practical level, from both the MR industry and respondent perspective.
A year ago, data collection firm Delvinia made what it described as a <27405 >'significant investment' in Measure Protocol, which it used to launch a consumer-facing app business. The latest funding will be used to drive audience growth, further develop the firm's proprietary core technology, and expand its team. Gary Laben, CEO of Dynata, says his company's investment is in line with its long-standing approach to bringing transparency and fair value exchange with members to the forefront, while ensuring the quality and security of data for Dynata's clients.
Owen Hanks (pictured), CEO of Measure Protocol, adds: 'The new investment is a clear illustration that the industry is starting to pay attention to consumers' needs, both from a practical and ethical standpoint. The super-power of blockchain is its ability to build trust in a marketplace, and provide a foundation upon which to meet the consumer's needs for privacy and transparency - whether they are aware of the technology taking place in the background or not. Having the additional funding to work toward a fair model for both consumers and data buyers is a fantastic step forward for our team'.
Web site: www.measureprotocol.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas.