The Personal Data Revolution Platform.
In the next few years, we believe your data will be worth somewhere in the region of £800 to £1,500 a year to businesses and governments worldwide. At the moment, your data is being collected, mistreated and sold by almost all digital businesses, with some of the major ones being Google and Facebook. Your data is being used to influence purchase decisions (e.g. Advertising), offer personalised products (e.g. health insurance) and to make cities run better (e.g. location & transit data)
We want to change this model so that you:
a) Know who has access to your data, when access was granted and what data was accessed.
b) Can revoke access to this data, remove some elements of this data
c) Get rewarded for sharing your data with companies that request it
Do we need to collect user data in the same way as before? Do we need to invest in building our own user data platforms? Do we have to covertly try and track users to get data about them?
With Truth Data Cloud, its possible to use the concepts of zero-party data and an explicit licensing platform together to create a better data economy, one which includes the user whilst removing middlemen.
Data that is explicitly provided by the user, never inferred through device/cookie matching with 3rd party data.
User data is stored on publisher/business servers
User data is collected/purchased with or without explicit consent
Data is used for targeted advertising, personalised experiences, insights, etc
User data is stored in a users wallet
User data is collected and managed by the user
Data is licensed to publishers/businesses in exchange for goods/services/payments
We want to provide you with a simple dashboard that shows you everything about you, data collected from various social networks, browsing history, location data, vehicle data, health data and much more. We want businesses and developers to build applications that directly requests your data under license in exchange for goods and services and ultimately allowing your from your dashboard to switch off access to a business or service without having to interact directly with that business. You can think of it like your bank and direct debits where you have control to break the agreement should you wish and that business no longer can take from your account.
We do this by:
• Providing a secure wallet for consumers to store their data.
• Providing a secure marketplace for consumers to trade their data.
• Providing visibility on who has licensed your data.
• Placing the consumer in a position of control.
• Rewarding consumers directly for sharing their permissioned data.
• Allowing developers to build businesses on top of you.
Got a GDPR concern? Challenges managing user data? Thinking about investing in a new CRM/DMP/CDP? By working with the Truth Data Cloud, you can remove costs associated with managing own CRM/DMP/CDP infrastructure, remove some risk with regards to data compliance and regulations such as GDPR.
Thinking about building an application that requires user management and user data storage? By working with the Truth Data Cloud, you can tap into an existing Consumer Data Platform that allows for faster development, lower operational costs and GDPR compliance.
A simple app and website that acts as mission control for your data, like a traditional bank is for your money.
One place, all your important data, managed and licensed.
Truth Data Cloud has been designed to support a developer ecosystem. Truth supports some core basic services that will expand over time.
Developers access Truth via API’s and can utilise Truths identity management, data storage, licensing, exchange rewards and messaging system.