Blockchain App For Personal Data Property Rights Developd By Hu-manity.co And IBMbr>
Blockchain startup Hu-manity.co is using IBM’s blockchain platform to help enable individuals to claim property rights to their personal data.
Based in New Jersey, Hu-manity.co is a new blockchain-oriented startup developing human rights and corollary sovereign laws in a decentralized manner. The company’s vision is a world where the next generation of human rights and policies emerge from a balance of centralized power and decentralized technologically empowered communities.
The company released an Android app called #My31, built on IBM Blockchain, which consumers can use to claim their human data rights. The app allows people to control and manage consent, authorization and commercial use of their personal information via a permissioned blockchain-based data marketplace supporting millions of users.
“The app provides people the ability to designate how their data can be shared, with whom, and under which circumstances, starting with healthcare data,” Hu-manity.co said. “Personal or medical data is not stored by Hu-manity.co, the data will remain wherever it currently is stored such as in a hospital electronic medical records system or by a research organization. However, the #My31 app will record a user’s property ownership as well as their data-sharing preferences.”
The human data marketplace is worth an estimated $150-200 billion annually. However, organizations currently do not have a global and scalable way to buy, use or sell this valuable information. Individuals also lack the means to effectively control how their data is used by corporations and whether they receive compensation or alternative value for the commercialization of their personal data.
Richie Etwaru, Founder and CEO at Hu-manity.co, believes that by creating a global consent ledger built on the IBM blockchain platform, people, corporations, and the monetization of human data can co-exist sustainably.
“People will enjoy greater levels of security, privacy, and control while corporations will be able to lawfully benefit from access to higher quality data that has the explicit consent and authorization of its rightful owner,” Etwaru said.
Bridget van Kralingen, senior vice president, IBM Global Industries, Platforms and Blockchain, said that their partnership with Hu-manity.co is a pioneering example of how permissioned blockchain can help balance individual rights with distributed data access at scale.
“With new digital business models driving data sharing to unprecedented levels, we believe that blockchain can serve as a key ingredient to enhance trust and responsibility with regard to data,” said van Kralingen.
Hu-manity.co is also planning to work with IBM to use the Sovrin Network in a pilot to help members of the Hu-manity ecosystem participate in the global self-sovereign identity network. The Sovrin Network claims to be the only global identity infrastructure that supports self-sovereign identity and verifiable credentialing using a purpose-built distributed ledger at its core.
“Sovrin Foundation and Hu-manity.co have a shared vision of creating a global standard network for identity that enables citizens to control all use of their personal information,” Hu-manity.co said.