Phunware Blockchain to launch data exchange in June

Phunware, Inc. (NASDAQ: PHUN), a fully integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, introduced  the Phun utility token (“Phun”) for its Multiscreen as a Service (MaaS) platform. The company’s dual token structure for MaaS ensures PhunCoin security tokens (“PhunCoin”) remain a regulated store of value, while Phun utility tokens act as a medium of exchange within the Phunware ecosystem.

Brands are able to purchase credits on the company’s blockchain-enabled data exchange to access the curated data in Phunware’s Knowledge Graph. Consumers are able to opt-in and engage with brands while maintaining full control of their digital identity. While PhunCoin captures the value of data, Phun is used in parallel to facilitate both ecosystem transactions and data collection.

“PhunCoin is a regulated investment vehicle that is available pursuant to existing securities regulations in the United States,” said Randall Crowder, Chief Operating Officer of Phunware. “However, we are excited to introduce Phun as a new utility token to not only support our ecosystem’s commercial launch worldwide, but also to enable the international community to get more actively involved as we drive towards mainstream adoption beyond our domestic borders.”