Erik Rind became a zealot for blockchain technology while he worked at OneTouchHCM, especially due to its enhancement of digital privacy, so he found ways to incorporate it into the company’s payroll software. But he knew it could go further.
“What we were really doing is teaching people how to take back control of their personal information. But we needed something that’s sexier than managing payroll for you,” Rind said. “What is sexy is turning that control into monetization – that I should be the beneficiary of money being made on my data.”
What followed was two years of developing Rockville, Md.-based ImagineBC, a startup building a digital community of people selling their personal data on their own terms.
On the ImagineBC platform, users get paid to complete different types of tasks like taking surveys and watching videos. They can use that money to transact securely, shop for digital content or send it to a bank account or gift card, with privacy protected through blockchain technology.
“In our ecosystem, a dollar is a dollar, and you can put to use as soon as you earn it,” Rind said.
Sellers keep 70 percent of their sale price, with 10 percent going to ImagineBC and 20 percent distributed back into the community.
Every member of the ImagineBC community is verified through a series of tasks, after which they begin growing their trust and reputation scores.
A member’s trust score reflects that they are who they say they are and don’t have duplicate profiles. The reputation score measures member behavior – like answering surveys truthfully – to support the integrity of the community.
ImagineBC lets you choose what information you want to share and what you’d like to keep private. The data is not sent out of the platform – ImagineBC can’t even email you or send a push notification – and it’s deleted automatically after users are verified. Users remain anonymous as well, known only to the community by their trust and reputation scores.
“Without blockchain, there would be no way to guarantee to members that only you own your information,” Rind said. “The distributed network allows that to happen.”
There are several ways to earn money on the platform: Taking surveys based on interests, participating in digital focus groups, viewing or listening to ads, referring others to the app and one relatively novel method: Users can be matched to job opportunities based on skills and interests, and talent-seeking companies will pay them through the app to interview.
The app launched in late August, starting with invitations only. It’s rolling out this year in phases, starting with 200 people who will invite others in the community, aiming for 5,000-plus by the end of September.
In the next phase, ImagineBC plans to bring in more groups of users and partner with staffing agencies and unions for signups by yearend.
Earlier in August, ImagineBC brought on sports broadcast veteran Alan May to lead that community-building effort. Rind said the startup is mostly funded by OneTouchHCM but is currently raising capital, and plans to expand its team as the platform grows.
For more on Rind and the vision behind ImagineBC, check out this What's Working in Washington podcast.
