STEM/MARK is on-boarding their panelists onto the VETRI application where they will be completing market research surveys and get the possibility to share additional data with the market researcher such as demographic data and device information. iOS users will also be able to import and share anonymized FB data, particularly likes and groups. The transaction of data and remuneration is handled autonomously via a smart contract (learn more here). This, in combination with the fact that users on the platform are verified reduces the risk of fraud and low data veracity for the market researcher.
For the users, VETRI provides both increased convenience and control. Currently the remuneration is commonly handled via tedious bank transfers which make the process slow and micro payments unfeasible due to fees. In the future, users will be able to receive and convert their cryptocurrency rewards directly within the app, within seconds of completing a task. VETRI does not take commissions out of the data transactions, leaving the full remuneration of the market researcher for the user. Furthermore, VETRI will serve as a one-stop shop to access a large variety of market research opportunities without having to store identifying data with all of the different agencies.
The partners will jointly evaluate the performance of the pilot over the upcoming 6-7 weeks. After this period, the application will be moved from the test to production environment for the on-boarding of additional agencies and users.