Who owns your data?
Is our data personal property and is there a way we can monetize it?
State of the Union
Data is a kind of no man’s land. We the people generate data, like an artist generates a painting, but since data is intangible, it’s hard to claim ownership over. Unlike a painting, data can be easily copied, used by more than one party at once, and doesn’t degrade over time. The applied value can depreciate, but the “physicality” of data cannot.
Both you and a store are involved in generating the data that is: X was purchased at Y time. In that case, is the ownership of the data shared between you and the store? Technically yes, but it doesn’t prevent third parties from taking a look.
We’re At a Loss
Facebook made 40.7 Billion dollars in 2017, and none of that would’ve happened without us giving away our data for free.
Is Facebook going to start paying us to use their platform? Extremely unlikely. Building software to algorithmically assign value to our actions is complex, and frankly not worth it considering how much money they’re already making.
Be A Gatekeeper
Since claiming legal ownership of data is so complicated, what if we went a different route? Instead of owning our data, we could be the gatekeepers to any information that we took part in generating.
A Powerful Option
Sprout is an app that lets you turn your data into cash. Specifically purchase data — something that none of the tech giants have but are racing to get. Purchase data is what sits in your bank account: where you shop, how much you spend, and how often you buy what you do. Purchase data does not include sensitive banking details, such as card or account numbers, which always remains encrypted and secure.
How Sprout Works
- Your bank cards are the vehicles by which you share purchase data and get paid. Link them to Sprout in under a minute.
- Use your linked cards at partner stores to get a % back on those purchases. Your purchase data is only shared with partner stores you explicitly shop with, and cannot be exported or shared under any circumstances.
- Deposit the money you’ve earned into your bank account and spend it wherever you want. Get $100 for each business you refer to Sprout.
Why This Matters
Data surpassed oil as the world’s most valuable commodity. The problem is that we the people who generate it do not get paid a penny. If we’re going to change that, we need to start now.
Sprout is the first step in creating a future where consumers can profit from their data and take back control.
This is a data revolution, and we’re looking for people to join the front lines. Whether you want to join our team or use the app, get in touch.
Sprout App launches Q4 2018.
Godspeed,
George Visan
CEO
Sprout
