When the General Data Protection Regulation comes into effect on 25 May the context in which businesses and their customers collect, share and use data will change forever.
GDPR will allow for a rebalance in terms of the relationship between data seekers (businesses for example) and individuals. Finally, individual customers will have more say over how their personal information is captured and processed. Companies will have to ensure the data they hold is valid, confidential and fit for purpose.
Under GDPR notions of privacy, consent, transparency and accuracy become paramount. And while these new regulations will enforce businesses to reset how they operate, it’s clear that this redistribution of power will also enable them to innovate and will allow for new equitable and sustainable engagement opportunities.
This premise lies at the heart of MetaMe a new personal data wallet and marketplace, led by London-based entrepreneur, author and acclaimed digital innovator, Dele Atanda. MetaMe uses what Atanda calls ‘Clean Data’ to enable a new mutually beneficial relationship between businesses and customer to be established. The Clean Data Economy is analogous to the Clean Energy economy where data can be used as a powerful force for both profit and progress. It is underpinned by principles of individual data privacy, ownership and consent.
Clean Data is made tangible by MetaPods (mPods), which are crypto information objects that use artificial intelligence (AI) to enable granular, precise and minimum units of data to be isolated and encrypted based on a person’s intention – buying car insurance for example. mPods can be shared and traded privately and contextually in exchange for Krypto Koins, MetaMe’s currency.