AUSTIN, Texas--(BUSINESS WIRE)--Phunware, Inc. (NASDAQ:PHUN) (the “Company”), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, today announced the successful launch of its Blockchain-Enabled Data Exchange and Mobile Loyalty Ecosystem for current customers. The Company plans to extend these new platform features and capabilities to new enterprise customers throughout the second half of 2019 as they are integrated and deployed by these customers.
Brands worldwide have been deploying Phunware’s Multiscreen-as-a-Service (MaaS) to drive mobile engagement and monetization for more than a decade. Since inception, the Company has created more than 2.5 billion Phunware IDs representing mobile devices connected to networks. Phunware’s Knowledge Graph uses machine learning and proprietary algorithms to curate over five terabytes of data every day from approximately one billion of these active devices each month. By blockchain-enabling its data exchange, Phunware seeks to eliminate an estimated $19 billion in annual advertising fraud while enabling brands to both identify verifiable audiences and access auditable records for every dollar of their media spend. Without any knowledge of blockchain, Phunware’s partners and customers can spend traditional media dollars through the PhunCoin Launch Alliance, while mobile application developers and publishers can easily integrate Phunware’s new Data Software Development Kit (SDK) in order to monetize their user bases and reward select consumers who opt-in to share their personal data. In accordance with existing securities regulations, consumers will be compensated with PhunCoin for their participation and all token holders will be entitled to a PhunCoin dividend.
“With international regulations like GDPR and new domestic policies like the CCPA in California, it's imperative that brands begin thinking about how to reach and compensate consumers in a world where data is viewed as an inalienable right,” said Alan S. Knitowski, Co-Founder and Chief Executive Officer of Phunware. “We are decentralizing data and empowering consumers to give brands an alternative to large corporations that exploit data and perpetuate advertising fraud.”
In parallel, Phunware’ s Loyalty SDK enables brands to map and track profitable behavior within their existing mobile ecosystem, while Phunware serves as a cryptocurrency issuance platform on their behalf. In order to unlock these features and capabilities, brands will leverage the Company’s new Phun utility token, which is currently available for purchase outside the United States and Canada.
“We primarily work with Fortune 1000 brands, so it was important for us to develop an ecosystem that integrates with their existing mobile applications and infrastructure without requiring them to manage cryptocurrencies directly,” said Randall Crowder, Chief Operating Officer of Phunware. “The future of engagement is 1:1 personalization, so we’re thrilled to offer global brands an easy way to leverage our mobile technology and blockchain-enabled solutions in order to reach the right consumers with the right content at the right time in the right place.”
Phunware expects to offer its Blockchain-Enabled Data Exchange and Mobile Loyalty Ecosystem more broadly to new enterprise customers throughout the second half of 2019 while rolling out its own iOS and Android wallet applications in parallel so that consumers have optionality and alternatives in more easily managing their data and rewards in one place. Phunware transforms digital human experience by enabling brands to standardize on its enterprise cloud platform for mobile, which continues to evolve in order to meet the needs of brands and consumers worldwide.
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About Phunware, Inc.
Everything You Need to Succeed on Mobile — Transforming Digital Human Experience
Phunware, Inc. (NASDAQ: PHUN) is the pioneer of Multiscreen-as-a-Service (MaaS), a fully integrated enterprise cloud platform for mobile that provides companies the products, solutions, data and services necessary to engage, manage and monetize their mobile application portfolios and audiences globally at scale. Phunware’s Software Development Kits (SDKs) include location-based services, mobile engagement, content management, messaging, advertising, loyalty (PhunCoin & Phun) and analytics, as well as a mobile application framework of pre-integrated iOS and Android software modules for building in-house or channel-based mobile application and vertical solutions. Phunware helps the world’s most respected brands create category-defining mobile experiences, with more than one billion active devices touching its platform each month. For more information about how Phunware is transforming the way consumers and brands interact with mobile in the virtual and physical worlds, visit https://www.phunware.com, https://www.phuncoin.com and follow @phunware and @phuncoin on all social media platforms.