NEWS12 June 2018

20|20 wins blockchain patent for market research exchange

Innovations News North America Technology

US – Research technology and service firm 20|20 Research has been awarded a US patent to establish a system and method for an opinion and behavioural data economy using blockchain technology.

Blockchain economy_crop

The patent outlines a means of creating a market research exchange for the trading and monetisation of behavioural and opinion data. The proposed system allows users to choose what data – including demographics, opinions, behaviours and beliefs – to share, and set a value for their information.

According to the company, integrating blockchain to market research will offer a means of creating an “anonymous, reliable and public marketplace” for insights and “deliver value and control back to the consumer”.

Isaac Rogers, chief executive of 20|20 Research and the inventor of the patent, said: “This is a model that puts the consumer first and streamlines the market research value chain. Respondents get more value for their time, providing the most reliable and impactful data, while brands receive direct access to the highest quality, most reputable consumers.”