All-female start-up uses blockchain to solve data privacy confusion and help consumers monetise their data
Sydney based female led start-up, ChainCollective, today announced its soft launch on International Women’s Day, empowering everyday Australians to take control of their data and turn it into passive income.
Powered by blockchain technology, the ChainCollective platform is designed to create a transparent framework whereby both consumers and businesses can profit from better data sharing capabilities. The platform allows consumers to gain greater control over how their data is shared and to monetise it to earn a passive income, charging companies a fee to market and advertise to them directly.
Co-Founder of ChainCollective, Jenny Walker, said, “As the blockchain becomes more the ‘Internet of Money’, the functionality which follows should improve control of our financial opportunities and decisions, our online privacy and security. ChainCollective believes data privacy and safety is a fundamental right. We aim to improve personal data governance in an easily accessible way, driving equality, opportunity and freedom.
“Our vision is for ChainCollective to be the beginning of true democratisation of data and the future of consumers creating and monetising their ‘self-enrichedcc’ data in a landscape of inclusivity and social responsibility, while giving businesses a more cost effective and ethical way to market,” Walker concluded.
Growing consumer data market
The consumer data platform market is estimated to be worth US$3.5b and will grow to over US$20.5b over the next five years, as businesses face higher costs due to an increase in governance, as consumers demand more transparency of how their data is used (1).
ChainCollective [illustrated below] is skeuomorphic in design utilising the familiarity of Web 2 access coupled with the decentralised efficiency, immediacy and transparency of the Web 3 ecosystem.
Co-Founder of Chain Collective, Greta Menzies said: “We’re offering an alternative approach to enable companies to provide transparency of where and how they are using customer data.
“Our platform simplifies the complex landscape and language around data policy so that consumers, regardless of their data literacy levels, can make informed choices to suit their needs.”
Call out for interested parties
ChainCollective is co-founded by Jenny Walker and Greta Menzies who both currently work in the data industry with qualifications in software design, data science and ML Dev Ops. They are uniquely positioned to deliver new tech paradigms and unlock value for individuals and businesses alike.
ChainCollective will begin trialling the beta platform product later this year and is keen to hear from people who are interested in joining the CollectiveCommunity.
“We’re currently looking for UX designers and blockchain developers. If people think they have other skills that would help us achieve our goals, or are keen to be kept in the loop, we’d love to hear from them!” Menzies said.
“If you are a business that participates in corporate data responsibility and are interested in a cross-industry standardised solution to increase transparency and build trust directly with your customers, we’re here to help you bridge that gap.”
Interested parties can sign up at www.ccollective.io or email [email protected]
(1) Research and Markets: https://www.researchandmarkets.com/reports/5472866/global-
(2) Self-enrichedcc – A ChainCollective locution