Blockchain-based solution Profila rebuilds trust between people and brands, changing how they interact online

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People will be rewarded for sharing their personal data, and brands will get a new channel to reach their audiences directly. The startup announced an ICO that starts in January, with valuable referral rewards.

Luzern, December 6th, 2021 – The team behind Profila recently presented their solution aiming to stop the misuse of personal data online and bring back trust into the relationships between people and brands.

The crypto startup has designed a new-era data, customer engagement and digital marketing platform that empowers consumers to learn about privacy, exercise their privacy rights and get compensated for sharing their data with brands. In turn, brands will receive more accurate feedback and direct insights from each individual, which will enable them to provide each customer with a more personalized and personal experience.

 “Today, users have no control over the collection and use of their personal data online. Companies collect data on their users and decide at their own discretion how they’ll use or misuse personal data for their benefit. Profila wants to solve this issue and bring benefits for both users and brands, making questionable tracking practices a thing of the past. By using our solution, consumers will take over control of their personal data, while brands will gain back trust of users and increase their customer lifetime value (CLV),” said Shawn Jensen, co-founder and CEO of Profila.

According to analysts, the privacy problem is even more apparent in the online advertisement space (Ad-Tech industry), where personal data of billions of internet users gets shared with and used by numerous unknown companies. Questionable tracking practices used by players in the online advertising ecosystem have already led to numerous scandals.

 “Studies published by Cisco show that consumers are more aware of privacy issues, which is why Profila offers the perfect solution for their concerns. With our platform, consumers take over control of their data, avoiding the risk of unethical sharing to AdTech companies. Brands, on the other hand, eliminate the risk of breaching privacy laws, bypass ineffective marketing practices and win back the trust of their consumers, which ultimately results in higher retention and lower costs,” Jensen explained.

Rewarding people for sharing their data, safely and anonymously

Profila offers consumers complete control over their personal data, and compensation for sharing it with brands through the Profila app. The platform is designed in a way that ensures nothing happens to users’ data and insights without their consent or approval.
 

The app allows consumers to regulate all the content shared with them on a daily basis, and choose which brands can access their personal data. Through their profile settings, consumers can instruct brands on:

     which channel they can use

     the frequency of the messages they can send

     the content of the messages

Each action (privacy right) and interaction (data subscription) is encrypted and saved on the Cardano blockchain. This ensures every user has immutable proof of each piece of data they ever shared, as well as each instruction they gave to a brand on how to (not) use their data.

With Profila, excessive brand marketing messages and irrelevant ads become a thing of the past. Users receive offers tailored to their needs and preferences, remaining anonymous while seeing relevant ads from brands. If a Profila user accepts to see paid content, they will receive 50% of the ad price paid by the brand. The compensation will only be from brands the user accepted and at the frequency they indicated.

Reducing costs for brands, enabling privacy-first advertising 

Through a web-based dashboard, brands can access evergreen personal data which Profila users provide directly. Since the platform incentivizes consumers to build the best personal profile of themselves online, brands can stop relying on third-party data and get the most accurate picture of their target customer, first-hand.

Moreover, by asking consumers exactly which content they want to receive from the brand and how they want the communication to look like, marketers can engage in highly personalized marketing practices that result in a better ROI.

Running on Cardano-native ZKT (Zero Knowledge Tokens)

Profila is built on Cardano, a proof-of-stake blockchain platform founded on peer-reviewed research and developed through evidence-based methods. To deploy their platform and incentivize consumers to use it, Profila has created 500,000,000 Zero Knowledge Tokens (symbolized as ZKT, nicknamed “Zeke”). These tokens will be offered to the public via the Initial Coin Offering (ICO), with the public round starting at the end of January.

ZKT functions as an incentive-based token, with the purpose of encouraging people to:

     learn about privacy and their own data subject rights, earning rewards in return

     build up and maintain the most accurate profile about themselves (their own Profila)

     share personal data with brands and get compensated for it

     help other users stay anonymous while viewing personalized content from brands, through a practice called Zero Knowledge Advertising

ZKT is also used as a payment token to compensate people who choose to view digital content paid for by brands. Additionally, people can use it to pay for certain blockchain-based or other premium services on the Profila app.

Referral program

Profila is getting ready to launch an ICO referral program with valuable rewards. Users who refer others to participate in the private round of the ZKT sale and sign up with a unique referral code will get compensated with:

     100 ZKT for 5 new people referred

     250 ZKT for 10 new people referred

     600 ZKT for 20 new people referred (at a value of 0.15 EUR per ZKT)

More information about the start of the referral program will be announced soon. We invite everyone interested to subscribe to our newsletter through our website and follow our social media channels to get notified as soon as it’s launched.

Funded by Innosuisse and Project Catalyst

Profila has already received funding from Innosuisse, the Swiss Innovation Agency for its privacy-preserving technology and related research. Also, Profila received direct funding from the Cardano community for 4 development projects through Project Catalyst Fund 5 and Fund 6. The Catalyst projects tackle issues around privacy, data sharing, customer feedback (NFT) and decentralized identity (Atala Prism). In total, they are backed by no less than 3.091 individual ADA (Cardano) owners, representing 526 million ADA (worth approx. 733 million EUR today).

Sign up for the Profila ICO here.

For more information:

-           Visit our main website: www.profila.com

-           Visit our ICO website: ico.profila.com

-           Download our white papers

-           Follow us on: Telegram, Twitter, LinkedIn, Discord, YouTube


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