- 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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