TAP Protocol
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Token Economy
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Verified Consent Protocol
NFTs to support verified consent.
The future of consent is immutable. NFTs (Non-Fungible Tokens) hold the key to unlocking the value in your data.These blockchain-certified credentials represent certifiable value in our decentralised platform for licensing your consent to organisations to use personal data in a legal, responsible and scalable way.
Organisations want to be able to produce verifiable evidence they have the rights to use the data they hold. This adds value to their organisations in the same way that trademarks and other IP rights do and can be a valuable asset at key points of an organization's life, such as a merger or acquisition.
Built around a central data wallet concept (Tapmydata, available in the app stores) a data owner can build their data profile and package up their profile information into NFTs (Data Nuggets) to be exchanged for Tap token (ERC20). Organisation buy TAP (ideally ahead of time) to exchange for verifiable consent tokens (NFTs).
Data owners can choose to market their NFTs to organisations simply by visiting their website(s) and opting in. Organisations can view aggregate demographic data from individuals and choose to purchase a bundle of consented data.
Traditional databases can be used as an on-ramp for non-crypto users that are prompted by forward thinking organisations to obtain the immutable consent. This is done by simple traditional web based methods that would operate with a custodial wallet approach and allow the user to then onboard to a non-custodial platform (Tapmydata) where their data was bundled how they see fit.
Existing rights management platform would still use token (TAP) as a mechanism for recording responses to data requests.
This means the current data requests model under GDPR shifts to:
Deliver (I want my data). ERC20 transaction of TAP back to the user when data is delivered, possibly augmented with non-sensitive metadata. Currently this is working using Stellar (see https://stellar.expert/explorer/public/asset/TAP-GBLDM2NKZ4Z4H67RZ3UQ2A5RNLFLLQNXGWRFHKGOL3QUALWYFWI4FIL4-1)
Delete. Organisation must delete the user data and attest to doing so through an ERC20 token delivery back to the user.
License. Organisation requests to license specific information (possibly what they have although could ask for more) and an NFT is sent to them by the data owner in exchange for TAP (ERC20).
Each of these outcomes is marketed to organisations based on the value of the verified nature of the transactions.
Tap tokens can be obtained early by organisations and held for later use. E.g. a growing company thinks it might get to 10m data subjects in their database so they acquire enough Tap ahead of time.
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