In the digital economy, you are an asset all of the time. But...
...when you click accept cookies, are you empowered?
...are you empowered to share sensitive data which could help accelerate innovation?
...are you confident to create the realisation of a public good without receiving anything back?
"Today, there is no governance infrastructre that allows for sharing data that is not effectively comparible to a blank check". - Dr Sylvie Delacroix
A Data Trust is a place where your rights are protected, your data is safe and you get rewarded for it.
A Data Trust acts with a legal duty to return it’s value back to you.
That’s what we are creating at Cordial World.
And the beautiful thing about this is that the more of us who realise and take part, the more powerful and valuable our data becomes.
We want to fix online consent and return value back to you the data provider. How? Bottom-up Data Trusts.
We want to empower groups, not just individuals. We have powerful AI tools but lack the ability to share data and make them as effective as they can be.
We want to create an intermediary layer between us the data subjects and them the data collectors.
The Cordial World Foundation is working alongside teams to build an ethical and legal Data Trust framework for the data sharing economy, focusing on bottom up empowerment structures that protect our vunerabilities online and allows us to share data in a way that is responsible and unlocks important social goods.
Through Data Trusts, we can understand some of the most urgent topics of today, we can empower community wealth building and usher in a participatory framework to facilitate and fuel the fourth industrial revolution. Today, we are focused on healthcare and smartcities. If you are interested to learn more or how to get involved as a team member, partner or investor, please contact us, join our newsletter and join our social channels.
Cordial has been identified as an Impact startup by the websummit. Impact is an initiative to create additional value for startups who are working hard to pursue one or more of the United Nations Sustainable Development Goals.
Today, we don't have an effective way to govern how data is used nor do we have democratically-governed data intermediaries that directly connect data providers to data consumers.
Data trusts are an opportunity for collaboration between all stakeholders in the data economy and to make the journey for groups to become fit for the emerging AI economy faster, less costly, and less risky.
Data trusts encourage data interoperability as well as the ethical and compliant governance of data — for example, by ensuring that individuals have consented to the various uses of their data (as required by regulation in several jurisdictions around the world), removing data bias, and de-identifying personal data.
Three Types of Data Trusts
1. Centralised approach, pull in as much data to one place and add security and governance.
2. Mid level, personal data stores. Data remains in the devices of each person who joins the trust and federated AI is deployed to the location to learn.
3. Decentralised approach. Pull only the data rights of the individals and leverage for better data conditions against companies.
Cordial World envisions an ecosystem of Data Trusts, each designed with different goals, and one where users can choose to join or leave and organisations access to innovate on it's set terms. Here are some examples;
- Wildlife conservation
- Product development
- Supply Chain
- Smart City
Dial Token (DIAL)
DIAL is the fuel for the Cordial Data Trust ecosystem, the utility token for accessing and being paid for Data.