Singapore-based Jupiter Chain and Deloitte recently announced a strategic collaboration to implement in Southeast Asia an innovative data exchange which provides people with a fully transparent avenue for monetising their data by connecting with businesses on the blockchain.
Advancing Technology… Securely
The partnership will leverage the strength of Jupiter Chain’s blockchain solutions along with the breadth and depth of Deloitte’s technology and regulatory risk management services designed to improve business capabilities in the areas of technology, risk, governance, compliance and regulation. This style of exchange is seen as the next wave of data mining, in the wake of recent scandals involving unauthorised use of data and stricter regulations around the ownership and portability of data.
Set to change the way data is handled, shared and monetised, the data exchange platform developed by Jupiter Chain will allow exchanges to happen securely, protecting the privacy of the individual’s personal information. Data owners will have greater control over their data, gain better access to tailored services and be rewarded directly for their data contributions.
In turn, Deloitte will advise on relevant regulations such as data laws and potential GDPR considerations for the data exchange model envisioned by Jupiter Chain, and on the technical front, Deloitte will review Jupiter Chain’s blockchain architecture, design and processes.
This relationship also has a research and technical collaboration component that will see Deloitte become one of the validating nodes on Jupiter Chain’s network; the first of its kind between Deloitte in Southeast Asia and a blockchain company.