- New
privacy laws in California place SRAX ahead of the competition
- Privacy
has always been a consumer right for SRAX
- Building
a reliable, opted-in consumer dataset has long-term, recurring revenue
potential for SRAX
SRAX
Inc. (NASDAQ: SRAX), a digital marketing and consumer data management technology
company, has developed a consumer-managed data marketplace where people can own
and earn from their data. As new privacy laws come into play in California, Los
Angeles-based SRAX is already ahead of the competition.
BIGtoken, built by SRAX, offers a secure and transparent
environment for consumers to own and earn from their data. Long before
California law makers were writing legislation that valued the privacy of
individuals over the agenda of big players (i.e. Facebook, Google, Amazon),
SRAX was putting the consumer in the driver’s seat. Founded in 2010, the
company has sought from the beginning to provide highly valued,
consumer-powered data that reveals brands’ core consumers. By providing the
consumer with essential key control, the company has unlocked the true value of
data.
While other companies are adjusting budgets to cover the
cost of compliancy to a new California law by January 1, 2020, BIGtoken has
already sidestepped the legal data issue because it requests users’ permission
for data sharing when those users initially sign up for the platform. BIGtoken
puts control in the hands of the consumer by providing the right to privacy,
awareness and choice from the get-go (http://ibn.fm/KG5zt). Once users sign up, they are able to
determine and make decisions on how much of their information is shared and to
whom. For SRAX, privacy has always been a right.
Doing the right thing from day one has placed SRAX a step
ahead in the industry. Competitors in digital marketing and consumer data
management will be spending up to $55 billion to comply with the California
Consumer Privacy Act (CCPA) (http://ibn.fm/LtGNZ).
The bill gives California residents the right to be informed about how
companies gather and use their data, an ideal that is an integral component of
BIGtoken’s core mission. BIGtoken has been building consumers’ trust, resulting
in an increase of consumer opted-in data made available to brands, making that
data far more valuable than information collected through data mining.
SRAX is building reliable, opted-in consumer data set that
will have a long-term recurring revenue stream. As consumers become more aware
of the value of their data, they naturally expect to be compensated for it. The
larger social media platforms such as Facebook, Twitter, and Snapchat are
experiencing consumer backlash as questions are being asked and more privacy
laws are going into effect.
The CCPA appears to be only the beginning as consumers
become more aware of their data rights and demand more of those entrusted with
it. Privacy laws at both the state and federal level will continue to change
and impact the way marketers reach consumers. As consumers become more empowered
and informed, SRAX will continue to meet their high expectations.
For more information, visit the company’s website at www.SRAX.com
NOTE TO INVESTORS: The latest news and updates
relating to SRAX are available in the company’s newsroom at http://ibn.fm/SRAX
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