Will be Free for Users and Lets Them Get Paid for the Use of Their Data, Anonymously.
inter-TECH-ion intern Penelope Rivera wrote this article….
The internet has drastically changed the world and how humans search for information. Google is just one of many search engines that people around the world use daily.
In 2020 alone, there were about 7 billion searches on Google every day, according to Tech Jury.
And, Google collects a lot of data in all those searches.
For example, Google Analytics keeps track of how much time visitors spend on a particular website, how many times they visit that website, what they click on, what keywords they use to search, their location, etc.
Google also tries to track activity on personal devices even when certain apps are closed.
To try to get a handle on all this data tracking takes a lot of time, vigilance, and know-how.
That’s where Tiki comes in. It’s an app with the mission of giving users ownership of their data. It is not available to the public yet; it’s being beta tested.
It’s the brainchild of Mike Audi, who said he felt that large tech companies — like Google, Facebook, Apple and Amazon — make it difficult to change the privacy settings on their platforms.
“Data is this generation’s gold rush,” Audi said. “The next hundred years will be decided by who controls it. Shouldn’t that be us?”
Foundation of Tiki
Audi drew on his expertise as a data scientist specializing in B2B and B2C data-driven products. He was catalyzed by the belief that a transparent data market can yield more ethical data practices.
He first launched the company in late 2020, with the help of co-founders Anna Stoilova, Brian Gagnon and Shane Faria. The company’s HQ is in Worcester, MA.
It’s working on its soon-to-be released prototype, which it aims to launch officially in Q1 2022.
How It Works
Tiki is free for users, and gives them a choice as to what to do with their data. And pays them if they choose to sell their data.
The app connects to companies’ public APIs, offering users “intuitive control without all the complex settings and privacy policies.”
Users would simply link their existing social media accounts – and start with Tiki’s three core features:
View what data companies already have about you.
Swipe left or right to control the data companies collect on you
Become a data seller and choose what to sell, to whom. With the option to stay 100% anonymous.
Tiki anonymizes data at the device-level and groups it with anonymous data from other users to create knowledge graphs, or insights, for businesses to purchase.
“We are supporters of anyone building better, ethical solutions for user data,” Mike said. “TIKI is unique in its user-centric approach to data ownership.”
The company has raised nearly $350,000 to date from private investors, with two lead investors: Jim O’Neil, the former CIO of HubSport and Deven Sharma, the former president of Standard & Poor’s (S&P).
Tiki is engaged in its first crowdfunding campaign on StartEngine, with a goal of $1 million. These type of campaigns are open to both accredited and non-accredited investors.
When it comes to other companies helping users monetize their data, there are three distinct types of companies, Audi explained:
– The “get paid for your data” types, i.e Reklaim (formerly Killi) and Ant Transaction Machines, co-founded by Walter Cruttenden, with HQ in Newport Beach.
– The privacy-conscious apps, i.e. Jumbo and Mine.
– Those pursuing new protocols/standards, i.e. Streamr or Inrupt. Streamr enables users to create, share and consume data streams on an open, scalable protocol, with opportunities for monetization. Inrupt is a technology for organizing data, applications, and identities on the web.