It said the innovative cryptocurrency is uniquely positioned for mainstream adoption because it is leveraging the global reach and distribution of a Nasdaq-listed company that specializes in consumer engagement and monetization
() said it has launched PhunCoin, a security token that aims to empower consumers to take control of and be compensated fairly for their data.
The Austin, Texas-based company said PhunCoin is an innovative cryptocurrency uniquely positioned for mainstream adoption because it is leveraging the global reach and distribution of a Nasdaq-listed company that specializes in consumer engagement and monetization.
“Data is arguably the most valuable asset on the planet, but consumers continue to be exploited for this vital resource without consideration or permission by large data oligarchs,” president, CEO and co-founder Alan Knitowski said in a statement.
“We launched PhunCoin to usher in a new era of transparency and accountability that enables consumers to determine not only what data they share and who they share it with, but also what that data is worth.”
WATCH: Phunware generates second-quarter revenue of $1.4 million as its MaaS platform gains momentum
Managed by PhunWallet, which is available on Apple App Store and Google Play, PhunCoin works alongside PhunToken in support of a dual token economy that seeks to blockchain-enable Phunware’s customer data platform.
The company said PhunCoin will only be available to purchase under approved regulatory exemptions. To ensure the compliant tokenization of PhunCoin, it has engaged Securitize, the first blockchain-based SEC-registered transfer agent.
Those who already invested through previous exemptions such as Regulation D and Regulation CF will be notified shortly, with specific instructions on how to consent to their PhunCoin issuance, set up a Securitize account, complete the requisite screening requirements and receive their PhunCoin, it added.
Phunware was founded in 2009 and has developed mobile ecosystems for some of the world’s most recognizable brands.
The company has also generated over 15 billion Phunware IDs tied to consumers all over the world and developed a customer data platform that manages around one billion monthly active devices when operating at scale.
Contact the author at stephen.gunnion@proactiveinvestors.com