Problem: Personal data management is broken
Data is the most powerful asset of the digital age. It is a new asset class, bigger as traditional assets and maybe even money. However, current incentives do not favor the individual, they favor siloed development and containment of data, out of reach of the true owners, in order to increase company value. At the moment there is no data management and exchange protocol that puts control in the hands of the individual while companies also don't have a tool to use consumer data in a fair way.
We are at a junction of how our future will look like. Our freedom (of mind) is at stake without even realising it. As data has value and power it is time the ownership and distribution is done the right way. Fair.
“And all of you — we — create this data. We create this asset, and we leave this trail of digital crumbs behind us as we go throughout life. And these crumbs are collected into a mirror image of you, the virtual you. And the virtual you may know more about you than you do, because you can't remember what you bought a year ago, or said a year ago, or your exact location a year ago. And the virtual you is not owned by you — that's the big problem.”
Don Tapscott, author Blockchain revolution
Datafund: Own your data
We are building world's first distributed personal data exchange as we believe that aligned incentives are crucial for a system to work in a fair, transparent way, for the greater good. With the advent of blockchain and other peer-to-peer technologies, such solution provides new possibilities and gives back authority and freedom to the individual.
Individuals are empowered with greater control of their data which can be monetized with means of fair incentive. Rewards can be determined according to the level of data sharing consent while guaranteeing a transparent and fair exchange process. At any moment, the data can be withdrawn and third-party access revoked.
Moreover, a fair distribution of value can be one of the steps towards universal basic income in opposition to wealth creation that grows social inequality. Last but not least privacy is the foundation of a free society. Let's get this asset that we create back under our control, where we can own our own identity and manage it responsibly!
Control your data
Keep your privacy
Enjoy an additional income source
All-in-one solution for consumer data storage and sharing, with track-back and opt-out functions.
New revenue stream
Transparent data exchange with the consent of the individuals that turns the cost of your CRM into an additional revenue stream.
New data streams
More efficient updating and enrichment of your consumer databases.
What is General Data Protection Regulation (GDPR)?
GDPR is an EU regulation that comes in effect on May 25th, 2018. The GDPR is intended to strengthen and unify data protection for all individuals within the European Union (EU). It also addresses the export of personal data outside the EU. Thus, the primary objectives of the GDPR are to give control back to citizens and residents over their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EU.
As consumers will (finally) take over control of their personal and consumer data all around EU, around 50% of companies are not going to be prepared for that.
Datafund technology stack
Our technology stack builds upon world's most advanced distributed solutions.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference. These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
Swarm is a distributed storage platform and content distribution service, a native base layer service of the Ethereum web 3 stack. The development objective is a peer-to-peer storage and serving solution that is DDOS-resistant, zero-downtime, fault-tolerant and censorship-resistant.
Foundation: Commitment to greater good
Only a non-profit project can stay neutral and act in the best possible way for the individual and greater good. With the first release of the protocol, the code will be open sourced while all the rights will be transferred to a foundation, established in Geneva, Switzerland.
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