The Data Economy 2.0

The Manifesto

Our mission is to give every individual, organization and government on the planet a decentralized data server for free (the “HAT Microserver”), a technology that provide legal ownership of data; with the right store, access and use their data with applications and websites, regardless of where the data was originally produced.

We see a time where the value of self-sovereign data is in its use, and a market of services will pay and benefit from the use of data, which we call Data Economy 2.0. We believe that self-sovereign data is an asset class to be owned by data subjects themselves, revealed for their own benefit, transact-able with organisations, standardised for exchanges, creating multipliers as a market, and with sensitive data assets regulated for safety and stewardship of conduct, and less sensitive data used freely by the market.

The Problem

Pervasive usage of data and a lack of transparency towards its handling has led to global concerns on privacy and equity with increasing breakdown of trust. A robust, scalable, technical, legal and ethical solution has not yet been readily deployed to solve for this. This leads to the quality of data being poorer, permissions in decline, costs increase, and the opportunity to benefit from data fades. Organisations are responding by locking-down, stepping back from handling data, some giving up on the opportunities of benefitting from data – which is not of long-term benefit to all. Individuals are increasingly frustrated, yet value what data offers, so want options that assure their data is being used responsibly.

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The Solution

We provide a data server hosting infrastructure that enables the separation of the service layer of an application from the data layer through self-sovereignty (legal IP ownership) thus enabling the secure, compliant mobility of data across apps, services, and borders using data accounts (DAs). DAs are folders within an individual’s server database, for “tenanted” storage by applications, with technical and legal separation between them. Think of an individual owning their own house and letting applications store their data in a room where they hold the key. These servers are hosted by Dataswyft without the ability to access any of the data within, legally owned and controlled by the individual, and accessible by organisations on-demand, with contractual rights and permissions. The result: fully compliant with GDPR, CCPA, HIPAA, PIPEDA, LGPD and everything that comes next. These are bold claims, and timing is everything. From Finance to healthcare to IoT apps, we power the essential data infrastructure for any business who wants to collect, store, process and share customers’ data responsibly. Data Accounts transform the data coming in into self-sovereign data assets enabling easy sharing and unlocking the value of the data for businesses while enabling individuals greater privacy, control and choice.

The Opportunity for Organisations, Cities, Governments

The environment for data storage, exchange and compliance has been thrown into disarray as data regulators change the economic opportunities and legal restrictions of data. These regulations seek to protect data subjects, as they should. However, they end up fragmenting markets to find solutions to centralised data for the value that data creates. These are billion dollar markets: $120b data brokering market, $110b identity and data protection market, $55b compliance market and $160b data storage market. These markets would divide between centralised systems and the new Data Economy 2.0 – distributed self-sovereign data markets. Our Decentralized Data Server Hosting Infrastructure and our API platform aim to play a major role in establishing the Data Economy 2.0.

Our mission is to enable organisations and governments to implement and benefit from this new economy through the development of the market of technology providers, service providers and other technology, tools and infrastructure for self-sovereign data; through discovery and design partnerships and through partnerships for transformation. We aim to help a pandemic ridden world leap frog to a new form of digital society, with data assets that put data subjects/customers first, and therefore able to create a multiplier for their economy the way money has been able to.

Most importantly, we believe the self-sovereign data economy can create bottom up economics that enable social justice – a more equitable division of resources, opportunities, and privileges in society.

Let’s make Data Economy 2.0 happen.

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