- SRAX’s
proprietary platform allows consumers to own, monetize their data
- While
CCPA is now law, consumers aren’t feeling protected
- Big
marketers looking for correct, effective data; BIGtoken delivers
SRAX
Inc. (NASDAQ: SRAX), a digital marketing and consumer data management
technology company, has developed a consumer-managed data marketplace that
delivers a digital competitive advantage for brands. Through its exclusive
platform BIGtoken, SRAX provides everyone in the Internet ecosystem choice with
transparency and compensation. Consumers who use BIGtoken are able to own and
monetize their data while brands that purchase access to that data benefit from
higher ROIs.
Consumers are increasingly demanding to keep their data
private. In addition to simply desiring privacy, this movement also stems from
a growing awareness of the value of that data. The California Consumer Privacy
Act (CCPA) was created in response to the public’s demands. The law took effect
on January 1, 2020, and created new consumer rights relating to access,
deletion and sharing of personal information collected by businesses. Consumers
are concerned that smart devices in their homes are being used to track
excessive information and that advertisers have access to that data.
“The goal of the CCPA was to reign in the power that
companies like Facebook have over consumers,” SRAX COO Kristoffer Nelson stated
in a news release (http://ibn.fm/QbItB).
Ironically, Google and Facebook might actually be exempt from the CCPA. Nelson
went on to explain that the law was written by well-meaning people who simply
did not have a full understanding of the technology, data or advertising.
“The law that was created to challenge big-tech surveillance
further entrenches these legacy incumbents while harming small businesses and
publishers,” Nelson continued. “But the law is now in effect, and the industry
must comply.” The good news is that the law will create a better Internet
experience for the consumer by forcing a more transparent and balanced
relationship between the consumer and the company.
While the new CCPA regulation has left some tech companies
scrambling, SRAX is ahead of the game on this new industry standard. From the
outset, the Company believed strongly in putting power in the hands of the
consumer – BIGtoken was created on that principle. BIGtoken is seeing three to
five thousand new users join daily, a result indicative of today’s consumer’s
appreciation for the platform’s open, honest data handling.
Currently, 16.5 million users worldwide have signed into the
BIGtoken app, which is available for download in the App and Google Play
stores. Through this app, consumers control their own data, deciding for
themselves what is and isn’t shared. The consumer manages what companies can
buy their data and how that data is used. In turn, this control benefits
companies because they are only receiving verified consumer data, allowing them
to better reach and serve audiences.
Big marketers aren’t interested in buying bad data anymore.
They want information from consumers who are interested in their products,
which is exactly the kind of information that SRAX is empowering consumers to
take control of.
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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