Biotron.io announces it will hold an Initial Token Event (ITE) to raise funds for its fully transparent personal data analytics platform. The platform empowers individuals and organisations by giving them control of the data they create online.
There is a current lack of trust in regards to personal data analytics. Not only is data collected by data brokers unknowingly, but organisations that are consuming and analyzing users’ personal data to improve marketing, business or research decisions are done with a lack of transparency. While traditional data brokers are often “secretive”, Biotron brings back control of data to the people who create it.
Biotron is a fully transparent personal data analytics platform empowering individuals and organizations. Users opt-in to allow the Biotron app to collect personal data such as (location, browsing, and purchasing data) and monetize that data by sharing it with companies and other organisations who will pay for it. All data collection and transactions are saved on the Blockchain, allowing for transparency of data ownership on both sides and facilitating instant micro-transactions between data creators and consumers. The model already complies with the upcoming General Data Protection Regulation (GDPR) that protects the data privacy of EU citizens.
The ITE launches on March 27th at 15.00 UTC, and Biotron BTN tokens will be available for a nine day contribution window. A maximum of 350 million tokens (35% of all tokens) are allocated for ITE, going at €0.10 per 1 BTN. Accepted currencies include BTC, ETH, LTC, EOS, OMG, BAT, SPHTX. Token distribution will be split as follows: 25% to user acquisition activities, business development and market expansion, 15% to cover ITE operation costs and to compensate ITE advisors, partners, and founders, 10% to private ITE bonus scheme, 10% to be held for transaction validations, and 5% to be held in reserve by Biotrion Foundation for future development with sales restrictions of two years.
“The average internet user generates nearly 0.5 GB of data every day with an annual increase of about 45%, however, many companies that use data collected by users will be hindered by the upcoming GDPR,” said Pavol Magic, CEO of Biotron. “Not only does Biotron ensure total transparency to our users, but our user consent-based platform will work around limitations set by GDPR.”
