One of the questions we hear frequently is “if individuals are controlling their data and services are not free based on advertising, then what is the business model?”
Over the past three decades, the exponential rise in social and data platforms has resulted in the monetisation of data based on a concentration of platform access and control. In parallel, breakthroughs in science and technology have been made possible through data driven decision models.
Now the challenge for the decades ahead is to shift monetisation away from centralised data control and to unlock value through data exchange and collaboration. This shift will provide mechanisms for all members of society to be incentivised by the creation of new value and better decision making.
Over the past few years, a range of regulatory measures have been introduced to increase competition and to create a more transparent and equitable digital society including:
These new and evolving regulations aim to address the asymmetry in markets, data access, data governance and increasingly artificial intelligence.
Increasingly the exponential need for data, identity and security management provides the opportunity for trusted organisations and intermediaries to leverage new value driven business models that mitigate risk and increase productivity.
In this context, financial incentives move away from data collection and towards the outcomes made possible through establishing trust and enabling personalisation and better decision making, resulting in two important business models:
The Meeco team has spent thousands of hours with enterprises across a diverse range of industries including banking, financial services, telecommunications, government, travel, retail, health, and employment mapping use-cases and defining new business models.
In parallel we’re active across standards working groups, industry bodies and government forums including:
Our team has experience in developing trust frameworks and scheme rules based on the regulatory requirements in Australia, Europe, and the United Kingdom. We differentiate our technology by ensuring that the regulatory and commercial requirements to operate around the globe are enabled through our Secure Value Exchange (SVX) platform.