The Privatyze team is excited to announce a collaboration with IndicioID to develop a robust, decentralized data marketplace.

By Tim Spring

Privatyze, an innovative startup for privacy-respecting data monetization solutions, has announced a collaboration with Indicio, a global leader in developing the infrastructure for trusted data ecosystems, to help guide the Privatyze team as they develop a robust, decentralized data marketplace using the Indicio Network.

The new Privatyze platform will provide an open and secure peer-to-peer environment for market participants to trade data directly, with full user consent and support for enrollment and discovery.

The result will be a more efficient, secure, and transparent platform than any offered by traditional data markets. Users can be compensated for the use of their data. It will mean that those with data to trade will be in complete control of the process, removing the data privacy and security problems of third-party data control. The use of verifiable credentials to manage authentication and decentralized identifiers to generate unique P2P encryption for every transaction will provide the zero-trust level of assurance needed for participation.

“We are excited to partner with Indicio to deliver a world-class data monetization platform that meets the stringent security and privacy requirements of our customers,” said Madison Majeed, CEO of Privatyze. “With the rise of big data and the increasing demand for secure ways to monetize this information, this partnership represents an important step forward in the decentralization of data and the evolution of privacy-respecting technologies.”

“In a data-driven economy, we need a marketplace for data that’s inclusive and not exploitative,” said Heather Dahl, CEO of Indicio. “That means that participants can meaningfully consent to data transactions and do so in a way that enables zero-trust security. This just isn’t possible without decentralized solutions, and we are excited to work with Privatyze on building this solution.

This collaboration represents an important step towards the development of decentralized data markets and will help to promote data ownership, transparency, and privacy protection for all participants.

About Privatyze:

Privatyze is a San Diego based technology startup on a mission to end the Surveillance Data Economy, and siloed-centralized data monopolies, known to many as Surveillance Capitalism. To do this they’re enabling everyday people to take ownership of their digital footprint, data, and privacy and turn it into a valuable digital asset. Privatyze is empowering users to take control of their data by giving them the freedom to collect and store their own data and information, verify its validity, and take it to the marketplace; where they can claim their piece of the $300 billion big data and digital advertising industries.

Privatyze was grown out of Launch Factory which brings together talented founders, elite advisors, seed capital, vetted technology, and an accelerator program to give entrepreneurs the unfair advantage they’re looking for. Launch Factory partner Bill Orabone said, “Privatyze is capitalizing on exactly the type of wide-ranging, big thinking opportunity we seek. Everyone knows that data privacy is a huge problem and Privatyze’s approach hits directly at its center.” Learn more about Privatyze at Privatyze.io

About Indicio:

Indicio builds software and infrastructure needed to create and manage Trusted Data Ecosystems for the exchange of high-value information, data assets, the creation of marketplaces, and the development of new business models around trusted data. TDEs simplify data compliance through privacy-by-design architecture and continuous Zero-Trust security. Specializing in financial, healthcare, and travel markets, Indicio’s global decentralized network and information management products enable customers all over the world to issue, hold, and verify data through encrypted digital credentials that can repeatedly and efficiently confirm data authenticity from its source without the expense or risk of direct integrations. Indicio TDEs boost bottom-line profit, mitigate costly risks and enhance a company’s reputation for information privacy. 

Originally published on EIN news

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