Phunware has announced today that it intends to give control of data currently stored by the Company back to consumers in an ongoing effort to commercialize a new data economy that leverages blockchain to reimagine how brands engage consumers.
“We can lay nearly every failure of a broken system at the feet of an elite minority who sought to exploit asymmetric information at the expense of an uninformed majority,” said Randall Crowder, Chief Operating Officer of Phunware. “Phunware’s decentralized data economy is now a moral imperative because consumers will continue to be exploited until they are able to control how they are engaged, but the only way to do that is through transparency and the disintermediation of data oligarchs who have never fairly compensated consumers for their data.”
