Today’s disrupted world continually brings incredible challenges—and enormous opportunities. As we all navigate the uncertainties and complex circumstances of the pandemic, trust hangs in the balance.
How do you instill confidence in your customer base? How do you restore business resilience? How do you deepen partner collaboration to operate with greater agility?
Organizations must embrace change and look ahead with urgency and optimism. For tomorrow’s winning digital business will transform the way they share data to earn trust. By collaborating in a way that benefits all, it’s possible to build more meaningful relationships with both customers and partners.
In this new model, businesses will work together using what we call a multiparty system—a privacy-preserving shared data infrastructure between individuals and organizations to enhance collaboration, build resilience and, ultimately, create new revenue streams.
Intrigued? To start shifting your business model mindset, the first step is to understand the imperative of trust.
Nearly 3/4 of customers will share more personal information if brands are transparent about how its used. Businesses must shift to a mutually beneficial data model that gives people more control and allows them to grant direct access to high-quality data in exchange for improved, hyper-personalized services with enhanced security and privacy.
In a multiparty system, data isn't just "information" anymore. Each unique piece of data can act as instructions, authentication and even enforcement of usage rules. This new business model can help to realign and rebuild trust, providing a more transparent, instantaneous and verifiable way to share data.
The possible use cases for multiparty systems are endless and span across industries. In this paper, we cover key use cases and select projects we have under way that are helping our clients build newfound trust with their expanding ecosystem partners and customers.