Ben Smith on Fysical as a decentralized data protocol

0:00I'm Jay Addison from a vincentio for investmentpitch media and FinTech news network today on blockchain interviews we have Ben Smith the CEO of physical org Ben how are you doing today great happy to be here thanks for having me on fantastic so tell us a little bit about fiscal and what you're doing with location data yeah absolutely so physical is a decentralized location

0:24data market and we work with you know location and human movement data so what that means is you know mostly we work with mobile app data so if you use a travel app or a weather app or a news application on your phone a lot of those apps create you know tons of location data and there's a huge market for that so we actually work with mark a lot of big marketers a lot of hedge funds a lot

0:50of you know real estate companies and we're beginning to talk to even some urban planners and sort of smart city initiatives that can actually use this data as well yes I was just gonna ask you about use cases in smart cities like getting access to retail and convenient nearby stores that type of thing and the fastest way to work what's the ultimate

1:09goal that you're trying to achieve with the movement of people with physical yeah so there's a lot of use cases the Yeltsin the biggest use case right now is really focused in marketing they're typically early adopters and markers want to understand you know what do people do in the work real world for the last you know 20 years you know the data realm was really focused on digital

1:31world data so what you do online like you know you know who are your friends on Facebook what you buy on Amazon you know what you search on Google but no one has really you know focused or monopolized the offline world or the physical world hence the name physical and so we've taken that approach really focus on that frontier we think that you know the physical world data from the

1:54physical how humans move through it will be you know the future and will be you know a huge market to come over the next you know 10 years or so yeah now if I'm not mistaken the data is actually very valuable and there must be a market place to buy and sell the data is physical a data marketplace as well yeah yeah the data marketplace so we actually

2:16already are we went live on the etherium main net in February which we're really happy about you know a lot of projects you know have you know a two-year roadmap but we went live in February and we've been actively publishing data points billions of data points from over 210 million mobile devices all around the world for the past couple months well so you did mention aetherium in you

2:40guys are utilizing blockchain now how essential is the blockchain for this type of business yeah so the team has been in the location-based space handling Big Data and location-based act like the past four years with our parent company physical labs in the States and we saw this space really rapidly grow over the past four years and what happened is a lot of middlemen stepped

3:03in a lot of aggregators and what this created is a lot of sort of a lack of transparency into where data is actually coming from so if you're a big company like Oracle typically right now you'll go to like an a big aggregator of data you'll buy those datasets and you don't really have any insight into okay did that come from a mobile app did it come from a telecommunications

3:27provider where did it come from because that means different things and also was it collected in a compliant way you know did the user actually share their data and opted into sharing their data so we're using blockchain to actually prove technically the origin of data and also approve compliance so that it was actually you know opted in by the user

3:48and that's you know something that the market really needs right now and so that's what we built it now I understand that physical also has a utility token and can you talk about the token and how it's gonna be used on the platform yeah so the token has three core use cases one is for payments of payments for the data and also payments for market services provided so those market

4:15services it could be things like data validation you know determining the accuracy of the actual data you know was this data point actually in Macy's or was it in a Starbucks next door data enrichment it could be a market server that the token is used to pay for such as you know this isn't just raw data we want to turn this raw location data into an actual visits data set for Starbucks

4:39visitors in the US nationally for example the second use case is decryption of data sets so the token actually decrypt access to the data and the third is for community incentives so we have a 25 percent of applicants allocated for incentivizing the community and adoption of physical that sounds pretty interesting now how long is the project being an incubation and

5:03and give us an idea of what the next six months look like for software development for you guys yes so we've been working on the project for about a year now but we've been you know working with location-based tech and you know big data for the past four years the whole team and the next six months were focused on sort of two core initiatives one is building out a marketplace or a

5:26brokerage which allows data buyers to more easily search for and buy data sets that are on the physical protocol right now that are actually published to ethereal and the second use case is actually building out a mobile application that allows users to actively share their own location data and actually claim right to that data and earn some money for doing that

5:49that's very interesting so how would someone get ahold of you or the company if they wanted to let's say first of all access some of the data for another corporation or even get involved in the project yes you can you can reach out to us you reach out to me directly and my email but yeah you can actually buy data today on physical which is unlike many

6:11projects out there if you have access you know if you if you buy tokens from us you can also buy data right now on physical and we have a blog post about how you can actually buy data on our media blog and where would somebody get your tokens right now so we actually have a pre-sale open right now to buy our tokens and so you can go to our website and register for the presale and

6:34you know we can contact you and you can purchase tokens fantastic so the pre-sales on right now yeah it's open right it's opened till the end of the week okay fantastic Ben Smith CEO of physical org is certainly being a pleasure speaking with you today on blockchain interviews and hopefully we can have you back on again soon so that we can keep our audience up to date on the project

6:54cuz it sounds like a very interesting project and I know that big data is huge and you know it sounds like what you guys are working on here is movement to the people data it's worth its weight in gold isn't it absolutely thanks for having me on thanks Ben we'll talk to you soon all right talk to you soon bye thank you