More than 20 businesses worldwide have announced the creation of the Data Privacy Protocol Alliance (DPPA), to build a decentralized blockchain-based data ecosystem that provides consumers control of their data and competes against the entrenched data monopolies.
Ownership of our personal data is the cornerstone of a future where data privacy is inherent, and data monetization is available. According to a recent BIGtoken survey of over 35,000 consumers, 78% said that they’re somewhat concerned or extremely concerned about their data privacy.
And they should be. Today, the manner in which data is aggregated and used is opaque. While steps have been taken regarding consumer data collection standards, data privacy policies and adherence, and permission-first monetization, all current solutions are centralized and increasingly dominated by the “Big Tech” monopolies.
The creation of the DPPA brings strength in numbers as we come together to build a data ecosystem based on transparency and the consumer’s right to control their personal data.
The Data Privacy Protocol will establish a fundamental set of guidelines and specifications for an iteration of CasperLabs layer-one blockchain optimized for data sharing, data storage, data ownership, and data monetization.
“Together, we’re creating an ecosystem with the technology and scale to compete with the centralized data monopolies,” said Lou Kerner, CEO of BIGtoken, a DPPA founding member. “The DPPA will enable true data ownership and provide consumers the tools and transparency to individually choose how their data is shared and monetized.”
The DPPA‘s founding members already include data aggregators, privacy advocates, brands, agencies, advertising platforms, and many more to come, from both the United States and abroad (e.g. Singapore, Israel and the U.K.).
Founding members include: Access America, Aqilliz, Big Data Protocol, BIGtoken, Breaker.io, BritePool, CasperLabs, ConsenSys Mesh, First Rate, Gain Theory, Metadata, MetaMe, Nth Party, Own Your Data Foundation, OptIA, Permission.io, QED-IT, Quantum Economics, SQream, Tapmydata, Tribal Credit, Vesto, and Wunderman Thompson.
“In a world with all-time high unemployment rates, where people are struggling to meet their basic needs, personal data monetization can allow individuals to earn enough money to at least feed themselves and their families, securing their basic human rights. This is where data ownership is truly revolutionary,” said Brittany Kaiser, Co-founder of the Own Your Data Foundation, another founding member of the DPPA.
With a nod to what the future holds, the DPPA will govern the protocol to optimize data sharing, data storing, data ownership and data monetization and evolve in real time. Additionally, the community will give consumers more control and ability to monetize their data in an efficient and transparent way.