Ushering In The Future Of Privacy And Data Protection: Aqilliz Joins The Data Privacy Protocol Alliance

By Aqilliz  

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DPPA

Over the past few decades, the tech industry has experienced a swift and meteoric rise, growing into one of the world's largest industries and amassing over $3.4 trillion in market capitalisation in 2020 alone. With a combined worth of $5 trillion, the Big Four — Amazon, Apple, Facebook and Google — possess unprecedented control over the marketplaces they facilitate, with the power to set the rules that other businesses operate under.

At the same time, the rise of the data economy has seen user data grow into a commodity that companies aggregate, monetise, and control through centralised solutions, often with limited consent from their users. As data volumes continue to soar, consumers are increasingly worried about privacy and are becoming more hesitant to entrust their personal data to businesses. However, they have also come to expect highly personalised brand interactions, for which some data is essential.

In light of the current sentiment and regulatory environment, it’s crucial for the digital advertising industry to put privacy at the forefront and consider a more ethical way of using data to address consumers, while still getting relevant content in front of the right consumers at the right time. The solution lies in becoming more transparent with consumers on what data is being collected and why, while demonstrating how they are receiving value out of that exchange.

Currently, how data is aggregated and used is often opaque, resting in the hands of centralised entities. With the help of distributed ledger technology, however, the world's data can be stored, shared, and exchanged for value in an efficient, transparent, and ethical way. In this manner, we can create a future where transparency and security is at the forefront; one where consumers as individuals will have the ability to exercise control and ownership of their own data — and the path to that future starts with a collective voice.

With this in mind, Aqilliz is proud to join the Data Privacy Protocol Alliance (DPPA), a group of close to 20 companies committed to building a decentralised blockchain-based data ecosystem to provide consumers with better personal data control. The DPPA‘s founding members are data aggregators, privacy advocates, brands, agencies and advertising platforms from around the world, including CasperLabs, BIGtoken, Permission.io, BritePool, and many others.

While much has been done to improve consumer data collection standards with a host of data privacy regulations, the industry still lacks universal standards and technology ecosystems that provide transparency and optimise data sharing, ownership, and monetisation. Founded to address these challenges, the DPPA aims to create an ecosystem where the world’s leading data aggregators, intermediaries, and users of that data can collaborate to define universal standards of data usage and privacy and implement a decentralised blockchain that can ensure adherence to the policies set.

Instead of competing alone, the DPPA hopes to empower others in the data ecosystem to compete collectively against data monopolies such as Google or Facebook, by allowing users to take control of their own data. With time, we hope to see a global digital economy that can effectively balance consumer rights and commercial interests, fully underscored by privacy, accountability, and transparency.

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