Dubai, UAE – MEmob+, the leading data, and location-driven marketing services company, Tuesday announced its strategic investment in GeoDB, a decentralized peer-to-peer data-sharing ecosystem, to help accelerate innovation in blockchain.
The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users and brands.
The decentralized wallet will empower people to earn rewards for the data they share and gain control of the data they generate.
The soon-to-be-released, decentralized wallet allows users to earn GeoTokens and provide a secure bridge to the world of crypto, offering a premium experience to users and allowing them to earn rewards for the data they share.
GeoDB is a top pioneer in the ‘Decentralized Blockchain Data Sharing Ecosystem’ and has an expert team of experienced developers in blockchain technology since 2009.
This digital wallet will be a major source for collecting data for both companies, becoming a significant step towards re-establishing the relevance of users as data creators and solidifying their presence as the core assets in a digital marketplace.
Both companies expect to attract a large number of users to the decentralized app for it to become the main crypto wallet internationally.
MEmob+ will be able to gather first-party data from users, supported by the ODIN protocol enabling efficient Peer-to-peer (P2P) transactions; thus, empowering users to share their information anonymously while earning rewards for it.
“Over the last few years, MEmob+ has invested in blockchain technologies that will soon become critical in a world that is geared towards the Metaverse, enabling users to use cryptocurrencies and NFTs in a virtual world,” Ihab El Yaman, Co-Founder, and CEO at MEmob+ said.
“We are proud to invest in GeoDB as their extensive knowledge of the industry, and their core focus on decentralizing data make them ideal partners that are aligned with our vision of providing people complete control over their data,” he added.
Manuel De La Esperanza and Luis Gelado Crespo of GeoDB said their focus on expanding into different geographies and build upon the latest blockchain technologies.
MEmob+ understands our vision and shares a common goal of making the decentralized wallet known to every crypto user,” they said. “As the leading technology company in the marketing and advertising sector, MEmob+ realizes the significance of the Metaverse and building apps in a decentralized space”.
The multi-chain decentralized wallet allows users to trade tokens at their will and pays directly into the users’ accounts, with increased rewards resulting from increased sharing of location data of the app.
Being multi-account, the wallet also allows one to interact with different blockchains and access different wallets within the app. It is non-custodial, not storing keys or access, giving users full control of their funds; thus, making it one of the safest crypto wallets.
MEmob+ and GeoDB have worked on the ODIN protocol which sits on the cosmos blockchain for the smooth and secure transfer of data from Web 2 to Web 3.