Los Angeles-based Social Reality on Tuesday officially launched a beta version of its blockchain system that allows consumers to own and sell their personal data.

The blockchain identification graph, or BIG, platform is among the latest initiatives aimed at giving consumers more control over information about their backgrounds and buying habits.

Social Reality initially had said the platform would launch in September.

The company awards BIG tokens to consumers when they sign up for the platform, agree to share their data and when organizations purchase their information. “The latter two compensation channels are intended to encourage consumers to share their data, and since rewards are given when ads are served against the data, discourage the installation of ad blocking software,” the company said in its white paper.

Online retailers and other companies make use of this data to pinpoint their marketing efforts. But such practices have raised privacy concerns, and observers of blockchain have viewed the technology as a way to protect consumers.

BIG beta users can earn points by completing different activities including referring friends, answering questions and surveys and connecting social accounts. At the end of beta testing on Jan. 19, 2019, the three most active users will receive five, two and one bitcoins (BTC), respectively. Bitcoin was trading at $6,638 Tuesday afternoon.

SRAX will cap the number of BIG users vying for points at 10,000.

ThirtyK Staff
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