Cuebiq last week launched its Consent Management and Data Provenance (CMDP) solution, which enables publishers and advertisers to provide verifiable proof of their compliance with GDPR (General Data Protection Regulation) and CCPA (California Consumer Privacy Act).
Cuebiq CMDP uses blockchain technology enabling users, partners, and customers to provide proof of consent and data provenance across all Cuebiq solutions. Cuebiq says this happens with a simple request, where any participant in the network can request an objective third-party validation of any data collected or product delivered by Cuebiq.
“Currently, data providers are self-certifying their compliance, which erodes consumer trust and puts many apps and advertisers at risk for privacy, brand safety and regulatory issues,” said Antonio Tomarchio, founder and CEO, Cuebiq. “Self-certification is simply not a viable solution. We are strongly committed to advancing the industry’s expectations of privacy compliance, beyond what is required by regulatory bodies, and Cuebiq’s CMDP sets a high bar for data provenance standards going forward.”
According to Cuebiq, concerns around data collection and consumer privacy issues have been worsened by malicious actors exploiting the data of everyday users, casting a negative light onto the entire location intelligence industry, as well as the often-inadequate attempts to solve compliance problems, based on easily corruptible self-reporting or qualitative surveys. On the other end, advertisers suffer from lack of transparency in the data supply chain, putting themselves at risk of buying low quality products created with improperly collected data.
GasBuddy and Nasdaq are the first companies supporting Cuebiq. Via a proof-of-concept (PoC) arrangement, Nasdaq will serve as a trusted, independent technology vendor. The blockchain-based solution represents a technology collaboration between Cuebiq and Nasdaq to verify data provenance and privacy compliance while allowing for third-party validation.
“We will contribute to the development of the Cuebiq CMDP as an independent market technology provider,” said Scott Shechtman, Head of New Markets, Nasdaq. “When we decided to invest in Cuebiq through Nasdaq Ventures, we were motivated by the potential to bring solutions and services that strengthen the integrity of the world’s markets to a new industry vertical. Cuebiq’s position as a media-agnostic provider of anonymous location intelligence makes them an ideal partner with whom we can leverage our blockchain-based technologies to further drive data privacy efforts.”