Link copied Hu-manity.co, a new startup working to give people rights to their digital property, has announced that it will use IBM Blockchain platform as the foundational technology for its global consent ledger.
While the human data marketplace is worth an estimated $150-200 billion annually, organizations currently do not have a global and scalable way to buy, use or sell this valuable information. Individuals, on the other hand, lack the effective means to control how their data is used by corporations and whether they receive compensation or alternative value for the commercialization of their personal data.
Founded in 2018, US-based Hu-manity.co seeks to allow people to control and manage consent, authorization and commercial use of their personal information via a permissioned blockchain-based data marketplace. It aims to enable individuals to claim property rights to their personal data.
“By creating a global consent ledger built on the IBM Blockchain Platform, people, corporations, and the monetization of human data can co-exist sustainably,” said Richie Etwaru, Founder and CEO at Hu-manity.co. “People will enjoy greater levels of security, privacy, and control while corporations will be able to lawfully benefit from access to higher quality data that has the explicit consent and authorization of its rightful owner.”
Hu-manity.co has announced the release of its #My31 app built on IBM Blockchain on Android devices in the U.S. An iPhone version is expected to be rolled out soon.
The #My31 app takes its name after the “31st human right” – that everyone has the legal right to ownership of their inherent human data as property. Through the app, users would be able to safely and securely claim title of their digital property. Upon claiming their data property rights, users receive a title of ownership, akin to a property deed.
The app will enable people to designate how their data can be shared, with whom, and under which circumstances. The enterprise solution for businesses who want to work with Hu-manity will be available to corporations starting in the healthcare industry in the first quarter of 2019.
According to the official release, Hu-manity.co intends to also collaborate with IBM to use the Sovrin Network in a pilot to help members of the Hu-manity ecosystem participate in the global self-sovereign identity network. Sovrin Foundation and Hu-manity have a shared vision of creating a global standard network for identity that enables citizens to control all use of their personal information.
“With new digital business models driving data sharing to unprecedented levels, we believe that blockchain can serve as a key ingredient to enhance trust and responsibility with regard to data. Our work with Hu-manity.co is a pioneering example of how permissioned blockchain can help balance individual rights with distributed data access at scale,” said Bridget van Kralingen, senior vice president, IBM Global Industries, Platforms and Blockchain.
