ICOrating

OPIRIA Basic Review (https://opiria.io/)

ICO dates (16.06.2018 — 14.07.2018)

Web: icorating.com

Email: info@icorating.com

Twitter: @IcoRating

Project Details

Name: Opiria

Ticker Symbol: PDATA

Project Type: Personal Data, Cryptocurrency, Web

Extended Company Description: The Opiria platform is a global decentralized market

for the secure purchase and sale of personal data.

Company: Opiria

Website

Whitepaper

ICO Details

Public Pre-Sale start date: 20.04.2018

Public Pre-Sale end date: 15.06.2018

Public Sale Start date: 16.06.2018

Public Sale End date: 14.07.2018

Public Token Sale (Pre-Sale and Sale) Duration (weeks): 12

Token Type: ERC20

Total Number of Tokens Issued: 750,000,000

Tokens Available (Pre-Sale + Public ICO): n/a

Investment Goals:

Price of 1 PDATA: 0.1 USD

Accepted payments: ETH, BTC, XRP

Bounty program: active until the end of the token sale

Token role: Functional

Team

Team Size (Number of People): 15;

Number of advisors and partners: 8;

GitHub: n/a

Project Information

The Opiria platform is a global decentralized market for purchasing and selling personal data.

The platform enables consumers to sell their own personal data to companies and

create a passive income stream by doing so.

Consumers can sell:

• feedback about products or services, as well as answer surveys and provide their

opinions about topics of interest

• data from many important channels such as their web browsing behavior, eye

tracking, emotions, data from wearables and smart devices, smartphone usage,

online shopping and more.

The Opiria platform provides the following services:

For companies:

• a browser-based Software as a Service application called “Opiria studio” with the

following main features:

• An interface for filtering relevant consumer profiles

• Creation of surveys and data requests (e.g. web browsing behavior over the last

4 weeks)

• Sending surveys and data requests to filtered consumer profiles; in combination

with an offer regarding how much the company is willing to pay for the requested

data

• Aggregation and statistical analysis of answers and data provided

For consumers:

• protection of data privacy and anonymity according to general data protection

regulation

• Smartphone apps and browser plugins for collection of personal data and

participation in surveys

• Receipt of compensation from companies for personal data provided

In September 2018 the project plans to add functions for scanning eyes and emotions

(based on existing patents), survey mailouts, and the possibility of conducting surveys

using videos, pictures and game formats.

Opiria has a broad approach and includes the following data channels amongst others:

• Web browsing

• Web eye tracking (when using laptop, tablet)

• Emotion analysis (when using laptop, tablet, smartphone)

• Online purchases

• Social media

• Location

• Smart devices (IoT devices)

• Wearables

• Usage of smartphone/tablet (mobile devices)

Advisors:

Ismail Malik (LinkedIn) — Editor-in-chief of ICO Crowd, founder and CEO of

BlockchainLlab, blockchain specialist at Smartledger, Olympic Regional Development

Authority, Chainx.

Daciana Octavia Sarbu (European Parliament) — Member of the European

Parliament.

Dr. Wolfram Remlinger (LinkedIn) — CTO of Audi AG, advisor at Ostbayerische

Technische Hochschule Regensburg, formerly teacher at Die Technische Hochschule

Ingolstadt.

Sam Lee (LinkedIn) — Director of research at Strategic Coin, advisor to Titan Digital

Asset Group, formerly research analyst at NY-based Investment Fund, partner of Alpha

Venture Partners.

Mihai Dumitrescu (LinkedIn) — Founder and CTO at rosoftlab, founder and managing

partner at Vanillaworks UG, formerly senior software engineer at CARUS SRL.

Michael Mazier (LinkedIn) — Advisor to Lampix, co-founder and chief analyst at

LendingCalc, formerly portfolio manager and chief quantitative strategist at Van Eck

Global, senior analyst at MSCI Barra.

Pavel Kapelnikov (LinkedIn) — Principal of the Chelsea Holdings Company, president

of Container Quote, www. GlobalForwarding.com, formerly: president at Global

forwarding Enterprises, LLC.

Angel Colon (LinkedIn) — Consultant to Factury, Inc., a structured finance specialist,

CFO at Destin Auto Inc.

Project partners:

Customers of Opiria include Audi, BMW, Mercedes-Benz, Volkswagen, General Motors,

Nissan, Intel, Procter & Gamble, Freightliner, etc.

Legal Advisors: Canzler & Bergmeier, Dr. Lugert & Dr. Mueller, ETL

Strategic coin — a consulting firm in the field of ICO and crypto market analysis

Amazix — a company that assists in the staging of ICOs

Monaco Growth Forums — a forum dedicated to blockchain and the cryptocurrency

market

LDJ Capital — an investment fund

BlockchainLab — a consulting company in the field of business models and

technologies

Attracted contributions: US$2 Million via a private sale.

Summary

The project is for the creation of a marketplace for purchase and sale of personal data.

According to the team, Opiria is compliant with General Data Protection Regulation

(GDPR) and provides subjective data USP (feedback on how a product/service is used;

opinion about topics via surveys, mobile diaries, or focus groups).

Strengths of the project:

• the pre-existing target market for the project shows high growth rates.

• Opiria is an already working business with Fortune 500 clients and sales

partners on 3 continents (North America, Europe, Asia).

• the project has an experienced team and expert advisors.

Weaknesses of the project:

• a high level of competition in the market.

• the project is not currently very popular with the blockchain community.

Market and Industry

According to a recent report published by TMR, the global data brokerage market will

grow by 11.5% annually (CAGR) during the period between 2017 and 2026.

[https://globenewswire.com/news-release/2017/12/07/1247221/0/en/Data-Broker-

Market-is-expected-to-surge-at-11-5-CAGR-between-2017-2026-TMR.html]

According to the project team, brokerage services, gathering and analysis for the

personal data market is worth US$250 bn. annually. Over the past 4 years, the industry

has grown by 13.5%.

Comments: The market shows a high growth rate, but this area is rather competitive.

We will talk about competitors in more detail in the next section.

Competitors

The project identifies data brokerage companies as competitors, such as the following:

Acxiom, Corelogic, Datalogix, eBureau, ID Analytics, Intelius, PeekYou, Rapleaf,

Recorded Future

The project also lists market analysis companies among its competitors:

The Nielsen Corporation, Kantar, Quintiles IMS Holdings, Inc, Ipsos Group S.A, GfK SE,

IRI, Westat, INTAGE HOLDINGS inc., comScore, the NPD Group, Inc.

Other competitors:

Datum — a decentralized ecosystem for transacting with personal data.

Pikciochain — enables its users to gather, certify and exchange personal data.

Bigtoken — a platform that enables users to sell their own data.

Summary: Strategic partnerships, an existing product, renowned Fortune 500 clients

and proprietary data patents (for eye tracking and emotion recognition) are the key

features distinguishing the project from its competitors.

Engineering Features of the Platform

The platform will be built on the basis of blockchain technology. Encryption is based on

asymmetric cryptography, so there is a public and a private key.

The platform includes the following components:

For companies

• A browser-based Software as a Service application named “Opiria studio”,

enabling the following:

o Filtering for relevant consumer profiles

o Creation and sending of data requests for objective data such as web

browsing behavior, eye tracking, emotions, data from wearables and

smart devices, smartphone usage, online shopping and more

o Creation and sending of surveys - two different survey types are available:

▪ Mobile surveys — one or several questions answered by users on

a one-time basis

▪ Mobile diaries — surveys requiring repeat answers, thus tracking

consumer experience with a product or service over a certain

period of time

o Receipt of objective data and answers from surveys

o Aggregation and analysis of objective data and answers

For consumers:

• A mobile application for iOS and Android that collects personal data and enables

participation in surveys

• Browser plugins that collect personal data and enable participation in surveys.

The architecture of the ecosystem is as follows:

Technical Description

The platform functions as follows:

• A user signs up to Opiria and completes their profile by providing demographic information about themselves.

• A company interested in purchasing personal data from a user sends them a “data request” (to purchase either objective or subjective data via surveys).

• The user in turn can either confirm or deny a request. Upon confirmation, the company pays for the purchase with PDATA tokens.

• The company receives the required data.

Users can only withdraw tokens from the platform at the market rate when they reach a certain value.

The following figure shows a screenshot from Opiria’s browser-based Software-as-a-

Service application called “Opiria Studio”. The screenshot shows a preview of the

interface for designing custom surveys.

The company already has a mobile application for iOS and Android smartphones, the Opiria app. Below are the download links:

[https://play.google.com/store/apps/details?id=de.vanillaworks.rate&hl=en], [https://itunes.apple.com/app/opiria/id1133083484]

The following figure shows how the survey shown in the previous figure appears on a

user´s smartphone (here shown on iOS).

Technical Roadmap

As technology and data are developed, it is planned to implement the following features:

September 2018 — Opiria 2.0, including measurement and analysis of eye tracking

and emotion detection, plus web surveys.

December 2018 — Extended consumer profile module implemented.

February 2019 — launch of a module for tracking web browsing behavior and online

shopping.

May 2019 — Integration of a module for selling social media data.

September 2019 — Implementation of a module for tracking smartphone and mobile

device usage behavior.

December 2019 — Launch of a module for tracking data from wearables and smart

devices.

March 2020 — Integration of module for tracking PC/Laptop usage.

Comments: The team has presented a step by step strategy for project development. The presence of a sizeable development team offers confidence that all plans will be implemented to schedule. It is not currently possible to view the platform code. The smart contract code is not yet released.

Documentation

We checked the Opiria website and documentation for sufficiency and consistency

towards informing an investment decision.

Information about the project is contained in the white paper and summary. The

document is available in English; the white paper presents a description of the project.

The main emphasis is on a description of the platform and token, and on analysis of the

market.

The website also provides information o the project, roadmap, partners, team and

advisors. The site is available in English, Chinese, Korean, Japanese, and German.

Summary: The documentation provides insight into the project, which is described in

sufficient detail.

TGE

Tokens to be issued for sale: 60%

Public TGE sale start date: June 16th,

2018 Token Type: ERC20

Payment accepted in: ETH, BTC, XRP

Price: 1 PDATA = 0.1 USD

Crowdsale Duration: 4 weeks, until July 14, 2018

PDATA is a utility token, to be used as a means of payment within the Opiria

ecosystem.

Token Limit: 750,000,000

Token holder benefits: Tokens are functional. Holders may either to use them to

access platform services, or sell them; there are mechanisms for motivating users to

store tokens.

Dividends: not offered

Additional token issue: no

Escrow: For contributions in fiat, Opiria offers an escrow service

The token sale will take place in several stages with the following bonuses:

Private sale

A private sale with contributions of a minimum of US$50,000 was held until April 9th,

10am GMT - bonus negotiable. The private sale was capped at US$5m.

Public pre-sale

The pre-sale TGE start date is April 20th, 2018, 10am GMT; it will end on June 15th,

2018, 10am GMT. During the pre-sale TGE period, PDATA tokens will be sold with the

following bonuses: US$5000 or more - bonus of 20%

The pre-sale TGE will have a hidden cap. If the hidden cap is triggered, sales will be

halted and the main sale TGE will begin within 24 hours and announced in the PDATA

Telegram channel as well as on all other social media channels.

Public Sale (TGE)

The TGE sale will start on June 16th, 2018, 10am GMT and will end on July 14th,

2018, 10am GMT.

During Day 1 of the TGE sale period the bonus will be 15%. Each day the bonus will go

down by 1% down to a minimum of 0%. For the final 15 days of the TGE there will be no

more bonus.

During the first 4 hours of the TGE the following individual cap will apply:

Maximum contribution = 1 ETH

After the first 4 hours of the TGE, this individual cap will be removed.

Max Goal: US$30,000,000

Min Goal: US$5,000,000

Bounty Program

Link to the bounty program The project is allocating 2% of all tokens (15,000,000 PDATA) for the bounty. The

program is open in the following directions:

Summary: The project has an extensive bounty program. All the terms of the program

are specified at the link above.

Token and Capital Distribution

Tokens and capital are distributed according to the following scheme:

There is a lock-up period for the team's tokens:

Summary: Tokens do not affect the distribution of shares in the company. The reward

system is set up so that it is advantageous to buy tokens earlier.

Development Plans

Project roadmap:

The marketing campaign for attracting consumers to the Opiria database will include:

• Attraction of clients through big client partners.

• An AirDrop campaign (new users of the Opiria application will receive initial

compensation (in PDATA tokens).

• A referral program.

• Creation of the TGE community.

• Marketing via social media.

• Partnerships with panel providers (companies that own large consumer

databases).

In addition, the project will encourage users to disclose more information about

themselves using tokens as an incentive.

The project is already operating in several countries (Germany, UK, China, Malaysia,

and South Korea).

In 2018 it is planned to expand to the following markets: USA, France, Germany, Japan,

and Singapore.

In 2019: Brazil, Mexico, Italy, Spain, Netherlands, Sweden, Canada and Australia.

In 2020: Russia, India, Switzerland, South Africa, Poland, Turkey, Belgium, Colombia,

Denmark.

In 2021: Thailand, Austria, Norway, Indonesia, Venezuela, Chile, Hong Kong,

Argentina.

In 2022: Finland, Czech Republic, Philippines, Hungary, Romania, Taiwan, New

Zealand, Ireland.

In 2023: Peru, Greece, Portugal, Ukraine, Vietnam, Israel, Nigeria, Bulgaria.

Summary: The project has detailed a marketing campaign and a scaling strategy.

Team

The team consists of 15 members, as well as 8 advisors. Information on the core

members of the team (LinkedIn):

Christian Lange (LinkedIn) — Founder and CEO. Co-founder of VanillaWorks.

Formerly: Co-founder and CEO of Ergoneers GmbH.

Marlene Gagesch (LinkedIn) — Co-founder and CTO. Formerly software development

manager, requirements engineer, application specialist for Ergoneers GmbH, engineer

for Siemens Medical Solutions.

There are 13 other people in the team.

Summary: The team is mainly from Europe. The team also has 9 software specialists and 4 sales managers.

Marketing

Information about the project is available via a variety of popular services such as

Twitter, Telegram, Reddit, Medium, Bitcointalk, LinkedIn, YouTube and Facebook. The

project has a working bounty program.

The team is conducting an advertising campaign on social media. On Twitter and

Facebook there are regular news updates, and videos are posted on YouTube.

The format of articles about the project suggests that they were mainly written by the

project team as reviews.

Comments: Interest in the project is gradually increasing. The marketing campaign is

mainly being developed on Telegram, Twitter and Facebook.

Analysis of Opiria’s website traffic based on data from Similarweb.com showed the

following:

Traffic sources: [https://www.similarweb.com/website/neurochaintech.io]

Comments: direct: 59.03%, referrals: 13.31%, search: 0.98%, social: 0%, mail: 26.68%

Search traffic: 0.98%, of which 100% is "organic" traffic

Referral links: 0.1331

Analysis of Opiria’s website traffic based on data from BE1.ru showed the following:

Traffic sources: [https://be1.ru/stat/opiria.io]

Comments: Top 3 countries for site visitors: USA — 66.36%, Slovenia — 25.73%,

Russia — 7.91%,

Summary: Based on available data on the project, we conclude that strong interest in

the project is not yet evident. The team is leading an advertising campaign via social

media (Facebook and Twitter), communicates with users via Telegram, maintains a blog

on Medium and posts videos on YouTube. In the last month, website traffic has

increased by 300 people.

Contacts

You can contact the developers through the following links:

Website

Twitter

Telegram

Medium

Reddit

LinkedIn

Facebook

Bitcointalk

Youtube

The information contained in the document is for informational purposes only. The views

expressed in this document are solely personal stance of the ICOrating Team, based on data

from open access and information that developers provided to the team through Skype, email or

other means of communication.

Our goal is to increase the transparency and reliability of the young ICO market and to minimize

the risk of fraud.

We appreciate feedback with constructive comments, suggestions and ideas on how to make

the analysis more comprehensive and informative.