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The Personal Data Store (PDS) is an encrypted database dedicated to one specific user. The PDS holds the personal data of a user and is hosted in a secure data center in the EU or in Switzerland. Every user protects his or her PDS with a strong and secure password. No third party can ever read or access the data without that password, not even BitsaboutMe.
The Personal Data Marketplace (PDM) is completely separated from your individual Personal Data Store (PDS) and connected via our Consent Management System (CSMS). The PDM is the online marketplace where your data is put to work.
If you decide to share your personal data profile under clearly defined conditions, then this data profile will be uploaded from your PDS to the PDM. In the PDM the data is anonymized and decrypted – otherwise it is unusable. Those data processors that you grant access to your personal data profile can access it.
|Business model: selling user data, the user is the product.||Business model: service provider, enabling users to monetize their own data for a commission.|
|Privacy as after-thought||Privacy by Design|
|Users give away the rights on their data by signing the user agreement.||All data always belongs to the user. BitsaboutMe cannot touch, see or sell the data.|
|Data is stored unencrypted in order to data mine and monetize it.||All data is encrypted, only the user has the key to decrypt it.|
|Data is used to build user profiles which are then sold to advertisers.||Only users initiate analysis on their data. User profiles are curated by users and only shared by them.|
|Little control over data, extracting and deleting data is made cumbersome.||Full control at all times, straight forward extraction and deletion.|
|Data controllers bag all revenues from data sharing/selling.||Users earn revenues from sharing their data, BitsaboutMe gets a commission for the sale.|
We sell services – not data. We charge companies when we build automatic connectors to their CRM systems. This facilitates data exchange with existing customers and enables companies to target potential customers by means of personalized offers.
In the long term, we plan to develop services for data processors (universities, market researchers, app developers, etc.) who are willing to pay for controlled access to your data.
With your permission, interested companies may offer you such data deals. If you provide access to parts of your data, we will manage the transaction and make sure that it happens according to the agreed terms in a save and secure way. Data processors pay for the access to high quality data and we will take a commission of that transaction.
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