Data Buyer

Most of the data generated within the UPAY platform is recorded on the blockchain. In the case of large data that is difficult to be recorded, it is hashed with a hash value and recorded on the blockchain. Since the data recorded on the blockchain cannot be falsified, it is evaluated as the most reliable date. In many cases, therefor, many data companies often proceed with the business model with the data recorded on the blockchain.

Among the types of data generated on the UPAY platform, the most data will be related to payment. These include where the owner of the UPAY E-wallet uses the most and at what time and at which store most payment occurs.

Such payment data is the most necessary data, including all existing franchises, payment agencies, settlement operators, and e-commerce. Therefore, UPAY will provide franchises or users with the opportunity to create new renenue models through the payment data that is continuously generated.

Data generated through the occurrence of payment transactions is recorded on the blockchain, except personal information. If the card franchise wants to sell the data, it is sold through encryption and anonymization, not creating any problem regarding personal information leakage.

A consumer who wants to purchase payment data created on the UPAY platform will be able to purchase it at any time through card franchises who want to sell by purchasing UPAY tokens from outside.

www.u-pay24.net provides matching between franchises who want to sell and customers who want to buy and pays a certain amount of fees. If such an intermediary is not needed, customers can directly contact to proceed with the data transaction, but they can receive data recorded in the blockchain by making a payment with UPAY tokens. UPAY tokens entered through data sales are distributed to the payers, franchises, and settlement operators participating in the payment process. This allows payers and franchises to create additional value by monetizing the data only accumulated.