DUBAI: MEmob+, a data and location-driven marketing services company, has announced its strategic investment in GeoDB, a decentralized peer-to-peer data-sharing ecosystem, to help accelerate innovation in blockchain.
The investment reinforces the companies’ shared vision of democratizing data, changing how data is shared and monetized by users and brands, according to a joint statement.
MEmob+ and GeoDB’s shared focus includes a decentralized wallet, with a vision of empowering people to earn rewards for the data they share. The soon-to-be-released decentralized wallet allows users to earn GeoTokens providing a secure bridge to the world of cryptocurrency.
Launched in 2009, GeoDB is a pioneer in the decentralized blockchain data-sharing ecosystem.
The digital wallet will be a major source of data collection for both companies, re-establishing the relevance of users as data creators and solidifying their presence as the core assets in a digital marketplace.
Both companies aim to attract a large number of users to the decentralized app, making it the main cryptocurrency wallet internationally.
MEmob+ will be able to gather first-party data from users, supported by the Open Data Interoperable Network protocol enabling efficient peer-to-peer transactions, which allows users to share their information anonymously while earning rewards for it.
“Over the last few years, MEmob+ has invested in blockchain technologies that will soon become critical in a world that is geared towards the metaverse, enabling users to use cryptocurrencies and NFTs (non-fungible tokens) in a virtual world,” said Ihab El Yaman, co-founder and CEO of MEmob+.
He added: “Third-party cookies are becoming obsolete, and consumers are now demanding more transparency and control over their information. Our partnership with GeoDB will enable us to access quality first-party data for capturing consumer preferences so we are able to form trusted and direct relationships.”
MEmob+’s investment in GeoDB represents the company’s broader strategy of diversifying globally and collaborating with partners to redefine users’ data experience.
