Innovative solutions are developed with data. It helps in research, science and boosts our economy. We need it for administrative purposes and yes, to sell products. Data is vital for the economy. That's what makes it so valuable!
There are different considerations about the value of your data. They depend on the type and quality of the data, and from whom it originates. One indication can be how valuable a user was considered when a company was sold or went public.
Today's data economy is centrally structured. This means that all data is stored, evaluated, and distributed at central points. These central points are servers or clouds, behind which are multiple servers.
Each of these servers belongs to a company that has control over our data. It decides what is stored and how it is evaluated. The company also decides to whom they will distribute or sell our data, or the results of the analysis.
This concerns us all, whether you are a citizen, an entrepreneur, or a civil servant. We are all affected, and each of us suffers our share of the consequences. The money, however, is lost to us all.
A centralised data economy has one major weakness: the more that data is collected the higher the costs. Servers are needed to collect and analyse data. These require lots of money to purchase and maintain. Also, administrative costs should not be underestimated. Data is constantly changing, it has to be maintained, updated and protected from hacking.
This is where polypoly steps in. We focus on building a decentralised data economy. This means that the data is no longer collected on central servers, but stays where it belongs – on your devices. With the help of the polyPod, data can be analysed there. This saves companies the expensive costs for data collection, but yields them the same benefits.
Let's face it. When profits or an exciting new social media platform lures us in, appeals rarely help. What is needed is a new solution on which no one has to compromise. And that is exactly what we are developing. A new ecosystem based on a decentralised data economy. In this ecosystem, companies can offer their services, and citizens can find the solutions that benefit them. Will that happen overnight? No. Changes occur over time if they are to be useful.
polypoly is a movement supported by three entities called the polyVerse. polypoly Cooperative represents the interests of citizens together with its members. It develops the technological basis with the polyPod. polypoly Enterprise takes care of enabling the economy to make a smooth transition to the decentralised data economy. polypoly Foundation takes the states on the journey and advises on the appropriate legal framework.