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