Telefonica (NYSE:TEF) has developed a blockchain based platform that allows subscribers to profit from selling their personal information. Wibson offers the decentralized platform facilitating users to sell their validated personal data for profit. The subscribers of Movistar, a subsidiary of Telefonica based in the South American nation of Uruguay, have a chance to validate their data and sell for a profit. Telefonica acts as a notary in helping customers to monetize their personal information.
Notary features ensure quality and authentic data
Chief Executive Officer and Co-founder of Wibson, Mat Travizano said the Notary feature of Telefonica ensures that data of users is recent, high quality and authentic. Telefonica acquired a stake in Wibson via its investment arm – Wayra.
Wibson introduced data monetizing facility in October 2018
Wibson has already unveiled a monetizing data facility for the users in the UK, Spain, and Argentina with the help of a mobile app along with a custom token. The users get a credit in their wallets on confirming the data transaction through a smart contract on Wibson platform. The users can enjoy selling their data every day while keeping ownership rights.
Restructuring costs and currency swings put a dent in profit
The restructuring costs and currency swings have a put a dent in the profit of Telefonica in Q4, 2018. Its net profit declined from EUR 693 million in 2017 to EUR 610 million in 2018. The revenues of Telefonica declined from EUR 13.16 billion to EUR 12.92 billion.
Telefonica enters a pact to divest its stake in Telefonica de Costa Rica TC, S.A., to Millicom International Cellular S.A. The company also sells its stake in Telefonica Centroamerica, S.L. Telefonica Cellular de Nicaragua, S.A., and Telefonica Moviles Panama, S.A. Telefonica raises $1,650 million through the sale of subsidiaries. The stake sale is subject to regulatory approvals.
O2 UK, the British mobile operator, plans to introduce 5G network initially in cities including London, Edinburgh, Cardiff, and Belfast in 2019. Following the wider availability of 5G handsets, the company would extend the 5G network coverage to other cities in the nation in 2020. Chief Executive Officer of Telefonica UK, Mark Evans said the company wants that customers should benefit from the initial launch of 5G. It will provide an improved experience to the customers with enhanced speeds and coverage.