New Firm Launches Blockchain-Based Data Platform

In the UK, a team of four former execs from YuMe and Crowd Science have set up a new company called Measure Protocol, offering a blockchain-based marketplace for person-based data where it says individuals are paid fairly and data usage is secure and transparent.

The team includes CEO Owen Hanks, the founder of mobile app ad network Appealing Media, which was acquired by ad targeting specialist YuMe in 2011. Software engineer John Martin serves as CTO, after co-founding online MR and machine leaning start-up Crowd Science - also acquired by YuMe. His former colleague, Crowd Science co-founder Paul Neto, is the new firm's CMO, having most recently served as Head of Digital and Media for Kantar Canada, while former YuMe software engineer Prashanth Ravindran completes the team in the role of Lead Blockchain Engineer.

Consumers using Measure's mobile app get paid to complete surveys and connect data sources such as health and location data from their mobile device and purchase history from their online store accounts. Researchers, marketers and other data buyers can then use the firm's web interface to browse and target specific populations of consumers. The system uses blockchain technology to ensure privacy and provide transparency for all constituents, both those who request and use data, and individuals who provide it.

Hanks says the blockchain protocol will be open to the entire industry, whether it be a brand, research firm, survey panel or marketers who utilise consumer and population-based data. 'For many years', adds Neto, 'the industry has been battling concerns around fraud, privacy, transparency and participation rates. We believe we are upon an era where we can now address these concerns'.

Web site: www.measureprotocol.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.