Phunware Launches Initiative to Give Back Control of Consumer Data
AUSTIN, Texas, Nov. 30, 2022 – Phunware (NASDAQ: PHUN) has announced plans to return control of consumer data to individuals as part of a new data economy initiative leveraging blockchain technology. The company aims to create a unique Phunware ID for mobile device users globally, facilitating better consent management and compensation for first-party data. Consumers will receive PhunCoin for data usage and PhunToken for engagement. This initiative seeks to enhance transparency and empower consumers while addressing the exploitation of data within the digital economy.
- Introduction of consumer data control initiative leveraging blockchain.
- Creation of Phunware ID aims to enhance user engagement globally.
- Compensation in PhunCoin and PhunToken aimed at incentivizing data sharing.
- No specific financial metrics or projections provided in the PR.
- Potential risks associated with consumer adoption of new data economy.
AUSTIN, Texas, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ: PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today 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.
Complete this form to start the process of claiming consumer data currently stored by Phunware.
By most accounts, data is now the most valuable asset in the world. Phunware has gathered over a petabyte of data from billions of devices with the intention of creating a Phunware ID for every human being on the planet with a mobile device touching a network. To better manage consent and ensure fair compensation for first-party data, Phunware will enable consumers to identify and manage data being curated within the Phunware Knowledge Graph. Phunware intends to compensate consumers in PhunCoin for use of their data and increasing the value of the ecosystem, while rewarding them in PhunToken for generating additional data through brand engagement.
“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.”
PhunCoin and PhunToken are managed by PhunWallet, which is now available on the Apple App Store and Google Play.
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About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN), is the pioneer of Multiscreen-as-a-Service (MaaS), an award-winning, fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & PhunToken) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with approximately one billion active devices touching its platform each month when operating at scale. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://phunware.com and follow @phunware on all social media platforms.
Phunware PR & Media Inquiries:
Laura Simpson
JConnelly for Phunware
Email: PhunwarePR@jconnelly.com
(973) 713-8834
Phunware Investor Relations:
Matt Glover and John Yi
Gateway Investor Relations
Email: PHUN@gatewayir.com
Phone: (949) 574-3860
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