We engineer value from data

Companies are embracing data economies where data is exchanged for incentives to create value for both businesses and customers alike. Through use of open-source technologies, companies can empower their customers to opt-in to data sales with incentives so that both the company and the individual benefit from the sales.

We’re helping companies find innovative ways to empower their customer base and supply chain to monetise and share their data. We engineer data economies with technology and solutions fully compliant with GDPR and adaptable to comply with other international privacy laws.

“If we create this kind of ecosystem that really works for people, for businesses, and for societies, the impact is going to be massive. We’re going to have magnitudes more of innovation, because data circulates.”

— Davide Zaccagnini, Managing Director at Lynkeus

What we do

We provide consultancy services end-to-end through the journey of engineering a data economy, from innovating data-driven business models to implementing solutions.

We leverage the open-source software created by Streamr, which enables data to be securely owned, efficiently shared and fairly monetised. However, we help our clients find the technology most suited to them, and we also create innovative solutions using cloud and industry specific technologies tailored to our client’s needs. 

Our approach

We deploy a three-phased approach to engineer a data economy, from understanding where value can be derived with a digital strategy to live pilots, bespoke app development and a market-ready technology.

Phase 1

Assess

We work collaboratively with you to assess the data value chain associated with your product or service. This enables us to scope a solution that can create value from data through data monetisation. 

Phase 2

Test

In a “simulated” or “live” environment we test the recommended solution through our open source data streaming and monetisation technology stack product. Where needed, we also develop Minimum Viable Product versions of any associated applications.

Phase 3

Embed

The solution is refined based on the outcomes of the pilot, customised to meet the remaining customer requirements and implemented. Training, maintenance and operations support is provided to embed the solution into your business. 

KRAKEN: We’re returning the control of data back to users with a marketplace for personal data

The EU H2020 funded KRAKEN project aims to enable the sharing, brokerage, and trading of potentially sensitive personal data in healthcare by returning the control of this data to citizens throughout the entire data lifecycle. 

Frequently Asked Questions

1. What is data monetisation?

Data monetisation as defined by Gartner is “the process of using data to obtain quantifiable economic benefit. Internal or indirect methods include using data to make measurable business performance improvements and inform decisions. External or direct methods include data sharing to gain beneficial terms or conditions from business partners, information bartering, selling data outright (via a data broker or independently), or offering information products and services (for example, including information as a value-added component of an existing offering.”

2. What is a data economy?

A definition of a data economy by Wikipedia is “a global digital ecosystem in which data is gathered, organised, and exchanged by a network of vendors for the purpose of deriving value from the accumulated information. Data inputs are collected by a variety of actors including search engines, social media websites, online vendors, brick and mortar vendors, payment gateways, software as a service (SaaS) purveyors, and an increasing number of firms deploying connected devices on the Internet of Things (IoT). The gathered data is then passed to individuals or firms which typically take a fee.” 

3. How do you engineer a data economy?

We deploy a three-phased approach to engineer a data economy: Assess – Test – Implement as described on this page. The work spans from understanding the data value chain to scoping a technological solution, testing it with live pilots and finally, implementing a market-ready technology. We leverage the Streamr technology stack and leading enterprise technologies to engineer data economies, choosing the most appropriate stack for our client’s need. 

4. How do I know if this is right for my company?

We recognise that data economies are a new concept for many. That’s why we offer a free 30min consultation with our experts to help you decide whether this is relevant to you. We also offer consulting workshops where we can evaluate your data value chain in more detail and assess the technological opportunities available to you. For a deeper analysis, we can conduct an Assess study for your organisation. To talk with us, simply get in touch. For more information on the Assess study, see this article.

5. Are your solutions GDPR compliant?

Yes. The customisable Streamr technology stack provides a platform GDPR and other Privacy Law compliant way of sharing and monetising data. During the Assess phase of our engagement, we’ll work with you to identify compliance requirements and ensure these are incorporated into the stack.

6. Does your solution have to use crypto?

No. We can customise our technology to provide both crypto and mainstream currencies like EUR and USD.

7. Is all the data going to be kept on a blockchain?

No, not necessarily. Blockchains are not well suited for excessive data storage due to the gas costs. We do use blockchains when they are the right fit for a particular problem, if they are not the right fit, we’ll be happy to tell you! 

8. Will you keep a copy of all the data?

No. The main purpose of using decentralised data sharing and storage solutions is to remove the need for any single third party retaining a copy of all your data. 

9. What is big data? How do I know if I have big data?

For a good summary of big data, see this article by Oracle.

10. Has your technology been tested or evaluated by any major enterprises?

Yes, we have been rigorously tested and evaluated by Tier 1 technology providers that provide services to Fortune 500 companies.

11. Where have you deployed this technology?

See our projects.

12. Is the Streamr stack customisable?

Yes, we customise the Streamr stack to meet your business needs and requirements.

Related posts

2020-09-08 Podcast

TX Podcast: Creating value from data in the Telco industry with Charlotte Patrick

In this episode we dive into data monetisation and the commercial opportunities created by data in the telco industry with independent analyst Charlotte Patrick.

2020-03-19 Blog Martin Moravek

Unlocking vehicle data and creating value for both the vehicle manufacturer and driver

Giving drivers greater control over their car’s data to decide whether to share it with 3rd parties in return for a share of the revenues generated from its sale could help vehicle manufacturers overcome their existing challenges to monetize vehicle data.

Vehicle dashboard

Subscribe to our newsletter

Receive our latest updates to your inbox. We’ll handle your data according to our privacy policy.

Drop us a message

We’ll get back to you as soon as possible.

Find out more

For information on how we can transform your sector or business, please get in touch using the contact details below.

Rob Holmes

Head of Partnerships

+34 639 874 286
rob@tx.company

Ben Sheppard

Managing Director

+358 4578 757 959
ben@tx.company