Thank you to everyone who joined AMA Blockelite x Tapmydata on 26th November at 2 PM UTC I 9 PM UTC+7. Here is the recap for those who missed this AMA.
Our special guest today is Gilbert Hill – CEO of Tapmydata
Segment 1: Introduction about Tapmydata and Gilbert Hill – CEO of Tapmydata
Q1. Can you briefly introduce yourself as well as Tapmydata?
Gilbert Hill – CEO of Tapmydata: Sure, I founded one of the first privtech companies in the world providing consent solutions around web cookies, which grew quickly and was sold to OneTrust, now a $2bn company.
Tapmydata was started to give people simple tools to take back control of their data and use the powers GDPR gave them.
Now there are other laws same as GDPR in Brazil, Japan, US & India, more coming
We now have 5,000 users who trust us and are ready for us to take them on the next step of the journey, to make money from their data.
Q2. How does the Tapmydata platform work? What solutions can Tapmydata bring and will it be useful in the future?
Gilbert Hill – CEO of Tapmydata: We have Tapmdata app right now for Apple and Android phone, and we’re gong to be launching on the web next year
We make it easy for people to ask, and companies to provide data using our secure channel on the phone – only you and the companies you talk to can see the data, not even us!
It’s really important to know the person requesting data is who they say they are so we encourage them to verify their ID, then we use public-key cryptography to create a secure channel
We built this ourselves, and can also offer our ID solution as KYC for new crypto projects as this is needed more and more, and it’s what we’re using for our own token sale. The app also has secure file share and chat function, with a record (but no personal data) made to the public blockchain
Blockelite Host: How will Tapmydata protect users data?
Gilbert Hill – CEO of Tapmydata: The data dialogue takes place between the 2 actors, the user and the organization (the data controller). They hold the public and private keys therefore we have no access to the keys and the data is effectively useless to any third party, including ourselves.
Blockelite Host: sounds great
Are users using the TapMydata platform required to KYC?
Gilbert Hill – CEO of Tapmydata: You’re not required to at the moment for data requests, but we’ll be using the app to do KYC for our token sale, so it’s a good thing to do if you want to take part! You can also keep your ID docs safe on your phone and share when needed, rather than emails, scans
Blockelite Host: Can you share when token sale will take place?
Gilbert Hill – CEO of Tapmydata: Yes private sale is open now, and public sale opens on 14th December so very busy times for us! https://tapmydata.com/tap-token/
Q3. What are the TAP token utilities? How can people earn TAP tokens?
Gilbert Hill – CEO of Tapmydata: The app awards TAP tokens for activity which benefits the community, like sharing data or verifying credentials. You can then use these tokens (or buy more) to mint your own Blockchain Verified Consent tokens (NFT).
Companies buy these with the ERC20 tokens directly and can use them for marketing, or to purchase our own services like KYC.
Datasets from verified users can also be placed on decentralized marketplaces like Ocean and Streamr. We will provide the tools to do this via the app initially, then with the web interface, you can manage and license consent to sites which you visit
Like cookies banners, but you are in control, and making money
Q4. What is the market strategy of Tapmydata to get mass adoption by millions of users or investors outside the crypto space into your project?
Gilbert Hill – CEO of Tapmydata: Ooh great question
We think Data is the new DeFi and people and businesses are waking up to their responsibilities, and the opportunities around the New Data Economy.
The current way businesses use data, without our knowledge and real consent, is being stopped by regulators and new laws are being created in the US, Europe and Asia to have markets for people to get a universal basic income, from their data https://www.youtube.com/watch?v=7LZo5cNI0mM
Our strategy is to work with businesses who need and want this access to users, while creating unions of people who can show their power, and providing tech for the growing movement. This way crypto is the tool, not the driving force, which makes it such a big movement for ordinary people
Back in 2017, the hype was all about new coins, this bull market has those coins getting picked up by big institutions and a new asset class is needed – our data
Every week this gets stronger so Tapmydata plugs in to that
Blockelite Host: great, thank you for your answers!
Q5. What are some achievements of Tapmydata and what is next on the roadmap?
Gilbert Hill – CEO of Tapmydata: We’re really proud of building the biggest knowledge base around data rights in the world, and are going to be adding sources of government info in 2021. This will help us belnd our unique data and make it more valuable
Our partnerships are a great achievement and what show me the time is right for this project – hot news just for you guys:
Tapmydata has agreed a distribution agreement with Balancer to provide the price discovery for our public token sale on the 14th December. We will also be announcing agreements with Ocean Protocol and Streamr to surface Tap’s unique datasets on their decentralised marketplaces
Our partner Outlier Ventures is excited too 🙂 https://twitter.com/jamie247/status/1331595603860746241
Segment 2: 5 best questions from Twitter
Q1: I am a crypto investor and I only care about prospect of a crypto that I chose, tell me the reason why I should choose your project over the existing one ? What is your coin advantage that can convince me to change from my favorite token?
Gilbert Hill – CEO of Tapmydata: A lot of coins now are still around DeFi and the market is really crowded. Not a lot of people in the real world have crypto to stake or understand defi and lots of the big coins are really high priced and difficult to get into.
One thing we all have is data and people can understand it has a value and the coin is how they get paid, so it’s a big new market and a real simple message – do data, get crypto
Q2: DeFi is one of the hottest topics in the blockchain field. Can you share your opinion about DeFi with us? Do you think DeFi will destroy the existing financial system? What’s your project Approach towards DeFi?
Gilbert Hill – CEO of Tapmydata: DeFi is a transformational shift as it is such a good ‘real world’ use case for blockchain.
In the past, people would say BC was a solution looking for a problem, and a lot of ordinary people couldn’t relate to use cases like company supply chains or tracing precious artworks.
DeFi solves the problem of accessing and sharing funds, as well as putting crypto assets to work which had previously been sitting in wallets doing nothing
The financial system has experienced many shocks in the past and I think will adopt the tech and tactics of DeFi to offer these to a mass market.
We think Tap and other projects can learn a lot from DeFi and start to use data in a similar way through licensing our permission to companies who need it for marketing.
At the moment all that data sits, like the crypto in the companies ‘data wallets’ 🙂
Q3: You are aiming to help people control and receive income by using their data. There are already projects which aim to do this like Brave browser and other platforms for ads and so on. What new are you bringing on the table and what experience your team has in this field?
Gilbert Hill – CEO of Tapmydata: Projects like Brave and Swash have helped make people aware their data has value and this can be realised through crypto, but they still work in the limits of the current AdTech system; I get paid for my attention, or for my internet history to be sold to advertisers.
We’re creating the building blocks for people to play a new role with their valuable data, where they’re in control. Rather than see ads for something I bought last week, I can let companies know I’m in the market now to buy a kettle, hardware wallet or an insurance policy.
Advertisers can buy these consent permissions at scale, incentivising users with tokens.
Our team has experience and contacts in marketing, tech and blockchain to build and sell this new solution to companies whose business model is now under threat from Privacy Tech and the citizen data movement…
Q4: Would you explain us how subject access request, (SAR or DSAR), works and how it can be sent? How do we receive the data that companies hold and what can we do to it once we have it, can we quit permission for them to use it?
Gilbert Hill – CEO of Tapmydata: Under GDPR & other new regulations in Asia and the US, you have rights which includes access to the data hundreds of companies hold on all of us.
Companies are required by law to respond to your requests within a certain time, and provide your data in an easily accessible, transferable format. You can also use your other rights on the app via the secure chat function, like to delete your data.
Once you get your data, you can keep it safe on your phone, share it with people you trust and also add your ID docs.
Q5: It is written on your website that TAP holders can become part of the TAP management system and validator. Could you tell us about the responsibilities of the TAP management and the minimum amount of TAP per person?
Gilbert Hill – CEO of Tapmydata: Users can get tokens by downloading the app and doing actions which help the community, like verifying their ID. This also makes it quicker for them to earn more tokens from their data once we launch that service, and to register for our public sale on 14th December.
Our current stellar tokens will be swapped for the new token on a 1:1 basis. Validators are groups like government bodies who issue and check ID, and as time goes on we will open-source and hand more control to the community as it grows.
Segment 3: Live questions.
Q1. Your token sale starts on the 14th of December. Can we participate in the TAP token sale from any country? Are some countries restricted to participate?
Gilbert Hill – CEO of Tapmydata: The token sale is not open to any country apart from US, Canada & Iran. The way register interest is download the app from Google or Android
Q2. can TAP provide a sense of security to our assets? what technology you use to secure our assets? how the security structure of TAP not easily hacked by hackers?
Gilbert Hill – CEO of Tapmydata: We use public key cryptography and privacy by design to ensure no-one can access the data. This is a fundamentally new way to approach design and build of seuch tech: https://tapmydata.com/we-dont-want-your-data-data-collection-end-to-end-encryption-for-apps/
Q3. May I know where will the subscription funds go? Directly to the team? What are you planning to do with them? Are you planning to burn?
Gilbert Hill – CEO of Tapmydata: Funds will be used to build the platform out for web, integrate with further data marketplaces and the KYC functionality for crypto. Tokens will not be burnt, returned to reserve – more details https://tapmydata.com/tap-token/
Q4. What are your plans to educate and raise awareness and adoption among the community to make more people understand # Tapmydata Protocol and its technology?
Gilbert Hill – CEO of Tapmydata: Many governments like UK are educating citizens about their rights and spending money on programs – we are collaborating with these and helping educate – it’s a big part of our marketing strategy
Q5. How could #Tapmydata live in a bear and bull market last time and how to build up belief for long term investors ? What is the role of the Tapmydata token?
Gilbert Hill – CEO of Tapmydata: We are born in a bear market and now the bulls are here! Tap is unusual in that we have tech that works, a user base and team already so are very well placed to help this next wave
Q6. Ethereum is starting to get stuck, ETH 2.0 is slowly maturing, so what is TAPMYDATA’s strategy if that happens?
Gilbert Hill – CEO of Tapmydata: We designed Tap to work on any platform and started with Stellar – now ETH is a good platform but we will monitor closely around performance, cost and to take advantage of future developments
Ok there so many questions! All unanswered questions can be posted in our Telegram channel and we will make sure to answer them.
The sale starts 14tth dec
Thanks guys it was great fun
Our AMA session is now over !!!
More information about Tapmydata:
Telegram Group: https://t.me/tapmydataofficial