Datawallet, a C2B blockchain-based data exchange, today announced its participation in the Kochava OnXCHNG program, the partnership program for the industry’s open source blockchain framework for the digital advertising ecosystem, XCHNG. Through this agreement, XCHNG will leverage the expressly permissioned personal data contributed to the Datawallet network, and provide the advertising ecosystem unprecedented access to cross-platform, user specific data.
“In many ways, the current online advertising ecosystem is completely broken,” Datawallet CEO Serafin Lion Engel said. “Companies source streams of low quality data from online sources and probabilistically project interests onto customers, which are identified through cookies. This results in hundreds of billions of dollars being wasted on showing ads to people who don’t care about the ads they are exposed to, and internet users being peppered with irrelevant materials. All of this can be traced to advertising networks having access to low quality data.”
This partnership more closely aligns advertisements and marketing campaigns with the proven interests and passions of consumers. Datawallet’s C2B model is entirely consent driven, all data points are linked across platform, giving companies unprecedented consumer insights and allowing them to find the right customers with highly accurate rather than the current 1.9 per cent match rates. Consumers are compensated for their data that they expressly lend to the advertisers and marketers, creating a mutually beneficial exchange of information.
“Advertising should not be an aggravating interruption,” Kochava CEO Charles Manning said. “It should deliver quality information so that people can learn about products they care about, when and where they are relevant. By having Datawallet participate in the OnXCHNG partner program, we are taking a big stride toward making deterministic and permission-based advertising a reality. This provides a substantial monetary opportunity for consumers to fix an ecosystem which ultimately is intended to deliver value to the person receiving the ads.”