Analysis of Blockchain on Surveys and Data Collection

Analysis of Blockchain on Surveys and Data Collection

Safeguarding Participant Data

A quick search on fraudulent surveys reveals several ways to identify and avoid them- a clear indicator of the vast number of people who have suffered at the hands of scam surveys. Phishing is the official term used for companies or individuals that want to get data fraudulently via methods such as scam surveys.

The onset of online paid surveys resulted in a flood of online users seeking for surveys to make a quick dollar. Scammers use the appeal of gifts and money to trap their targets.

For example, in the United States, veterans are more likely to be affected by scam surveys based on a report by AARP. Individuals who have served their country should be protected against such fraud.

With blockchain technology at the forefront, surveys stand to protect their participants from existing nefarious actors.

Blockchain is a distributed ledger which contains data from its users across a peer to peer network that is continuously reconciled. The nature of blockchain makes it harder for fraudsters to instigate any unethical practices. The practices can easily be traced to the distributed ledger. The data stored therein is immutable.

The immutability of blockchain also poses a challenge to survey fraudsters. Surveys carried out through blockchain platforms are extremely hard to replicate. The record keeping nature of blockchain will make it easier for fraudsters to be identified on these platforms.

Further, registering in blockchain survey platforms such as the Insights Network requires potential users to submit legal information backed up by official government documents. The nature of transparency set by such blockchain survey platforms deters fraudsters from joining such survey platforms thus preventing the entry of fraudsters into the platform. The involvement of verified government documents locks out a massive percentage of cheats.

Insights Network’s platform allows for verification of both participants and surveyors on different platforms under the same blockchain– thus all parties on the platform can be verified.

Once user data is guaranteed, then data submission and participation become voluntary and truthful from the participant’s end. The confidence in data submitted also increases the belief of market feedback by companies that commissioned the survey; hence changes are likely to occur based on the responses.

In this first part of a two-part series, the article has tackled safeguarding of data and authenticity in the survey space. These two attributes are crucial in ensuring that the survey market space remains authentic and independent. We have seen the advantages that blockchain adds to this space in terms of authenticity and safeguarding of data. Because of its nature, blockchain can improve significantly on these two attributes.

In the second part of the series, closer examination will be attributed to the user benefits that arise from the integration of blockchain technology into the survey space. The article will also tackle how these benefits differ from those carried out in centralized platforms.

For further information on the Insights Network, please use the following links:

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Disclaimer: Please only take this information as my OWN opinion and should not be regarded as financial advice in any situation. Please remember to DYOR before making any decisions.

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Published at Wed, 17 Apr 2019 17:04:39 +0000