Fluree, provider of a graph ledger database and data pipeline toolset for secure-data management and sharing, is partnering with Fabric to remove “middleman” companies, such as Facebook and Google, that currently collect consumer data and sell it to advertisers without express permission of the individuals in question.
Fabric is a fintech company based in Santa Monica, California, which uses Fluree technology to enable consumers to control and monetize their own personal data.
“Fabric is an example of exactly the type of use case we envisioned when we founded Fluree,” said Brian Platz, Fluree co-founder and CEO. “We are looking to create a world where people can control their own data and use it as they wish. With Fluree’s trusted ledger database, Fabric has built a business that seamlessly helps to improve the relationship between regular people and the brands appealing to them. Fluree seeks to work with disruptive organizations looking to build new applications and services that make data more sovereign and business models more equitable.”
Consumers who sign up with Fabric receive payment from brands in exchange for sharing their data and providing feedback.
It is pioneering a new category of “data rewards” in the form of cashback for consumers by merging social e-commerce and banking into one app. Consumers earn cash back by watching advertisements, racking up dollars on a Fabric-provided debit card.
Fluree’s blockchain data ensures advertisers know their consumers are real—eliminating fraud—while simultaneously cryptographically protecting the identities of those consumers.
That same Fluree blockchain technology allows consumers to sell their personal data to advertisers they choose. The interplay between those two groups creates Fabric’s dual-sided ad marketplace, according to the vendors.
“Fluree’s unique data management platform unlocks new opportunities for startups like Fabric that are disrupting traditional business models,” said Paul Taylor, Fabric founder and CEO. “Fluree’s technology enables Fabric to operate in a fraud-free environment, making us a perfect example of a startup that can disrupt status quo middleman-intensive industries.”
Fluree’s products include its secure graph ledger database product Fluree Core, perfect for new projects that need digital trust and distributed data collaboration.
For companies steeped in legacy infrastructure grappling with disparate data sets, data silos and outdated data-governance systems, Fluree’s product Fluree Sense will guide them toward a modern data architecture, according to the company.
For more information about this partnership, visit https://flur.ee.