Data is now an economic asset — A solution by Datafy.Network

Personal data is an economic asset. It is generated by the online activity of individuals; their identities and behaviours are traded in exchange for higher quality of service and goods. Companies use the acquired personal data to enhance user service and provide a personalised experience. This has contributed to exploitations of personal data. Until now laws were not able to regulate the market of personal data. The implementation of GDPR is a response that will enable this.

GDPR brings legislation changes that present time-specific pressure for companies on one hand and on the other, open the door for individuals to take control over their personal data. One key aspect of why GDPR legislation is important, is that for the first time in history, private data of a person is presented as an asset, which gives the person the right to decide what they would like to do with it — either keep it private, lease it or sell it.

What is Datafy.Network?

Unlike other providers, we at Datafy.Network don’t view this new paradigm shifting regulation as a problem, we see it as a rare opportunity that can bring significant advantage to everyone. Datafy.Network is a two layers solution that simplifies interaction between data owners (individuals) and businesses.

Two layers that comprise the network are:

-> Consent management protocol — an open, decentralised, GDPR compliant data and consent exchange tool.

-> Personal data and consent platform — a secure data-intensive AI connecting anonymised consumers and businesses in a GDPR compliant way.

Datafy.Network Consent Management Network will set a new standard of personal data management.

For more information, stay tuned and look out for new Medium posts weekly.