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Silicon Valley Upstart Wants to Make You Data-Rich with World’s First Data Wallet
- DrumWave has launched the dWallet platform, a first-of-its-kind system that will enable individuals and companies to contribute data and monetise their digital footprint.
- Individuals can now transform their personal data from a cost centre into a profit centre, with the help of an infrastructure of user-friendly interfaces, allowing for greater data sovereignty and valuation.
- The launch comes as the global data monetisation market surges: valued at $3.4bn in 2023, the market is projected to grow at a CAGR of 25.8% through 2030.
- DrumWave CEO André Vellozo says all consumers are data-poor and need to become data-rich, as traditional banking and currency become increasingly outmoded and ownership of data is paramount.
- The sophisticated infrastructure of the open, cloud-based architecture enables seamless integration for data agents and developers while maintaining controlled access to data in its original location.
- Brittany Kaiser, newly appointed as DrumWave’s Chief Evangelist, highlights the platform’s transformative potential: “For years, I’ve been saying that the most valuable asset in the world, our data, has been harvested, collected, modelled, and monetised — just to sell products to us — but nobody has come up with a solution to address the root of the problem yet.
- DrumWave has made Brittany Kaiser’s decade-long dream of data ownership and the ability for citizens around the world to garner perpetual value from their data a reality.
- The DrumWave system rewards data-generating users so they “can participate in the value creation process”, according to Germán Scipioni, the company’s Chief Product Officer.
- DrumWave CTO Laura Bermudez highlights how the solution establishes new standards for data management, with authenticity validation and the unprecedented ability to combine data from multiple sources and industries.
- The launch was made at Money20/20, designed to start a conversation about how to reimagine the future of money, and data ownership is fundamental to that discussion.
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