The Marketing Group’s (TMG) blockchain-powered media agency, Truth, is launching a GDPR compliant marketplace with the aim of putting consumers back in control of their personal data.
The blockchain-enabled Truth Data Cloud will give consumers the power to sell what they want to share by being able to sell their data to brands, agencies, and publishers to gain personalised advertising with discounts and offers on goods and services.
Furthermore, the Data Cloud will reward consumers for transparent, permission-based use of their data. Meanwhile, consumers who share their data on the Cloud will be rewarded with ‘Truth tokens’ which can be used for discounts on goods and services or exchanged to their preferred currency.
“Now is the time to address how we use big data in the advertising industry. Personal data is being used without consumer permissions,” said Adam Graham, CEO at TMG and co-founder of Truth. “Brands’ advertising spend is being wasted and consumers are receiving too much irrelevant content. With the Truth Data Cloud we want to give consumers the power to control their own data and give advertisers and publishers the reassurance they are using that data with consumers’ explicit consent.”
The Data Cloud will launch with commercial partners on both the supply and redemption sides and will have open APIs and SDKs to enable third parties to launch GDPR-compliant apps.