Embedded privacy opens up competitive advantages for companies as GFT extends investment
- GFT is doubling its investment in embedded privacy pioneer One Creation to 5 percent
- One Creation has won major clients in its first year of operations and is currently onboarding several more
- One Creation's solution allows organisations to embed privacy into their workflows
- GFT is co-developing the platform
- New revenue streams in fast growing market for digital rights management accelerate GFT's ongoing growth course
LONDON, Jan. 19, 2022 /PRNewswire/ -- Brand trust has become a key success factor for businesses in all sectors. One major concern impacting trust is privacy. Consequently, companies that invest in privacy gain significant competitive advantages. They see improved customer loyalty and substantially speed up their sales process1) because customers have fewer concerns. On the other hand, 87 percent of respondents in one study said that they would not do business with a company if they had concerns about its security practices2).
Embedded privacy pioneer One Creation and global Software engineering company GFT enable organisations to embed privacy into their workflows and technology stacks. It is vital for companies and consumers alike to make sure data are not being misused and to be in full compliance with increasingly stringent regulations. One Creation is providing a solution that meets those requirements. GFT is a key development partner for One Creation and holds a minority stake in the company, which is now being doubled to 5 percent.
The One Creation platform utilises Daml smart contract technology, created by Digital Asset. Prospects for the young company are bright:
- The digital data rights management market is set to reach USD 8.77 billion by 2026, with a compound annual growth rate of 21,3%3).
- The global market for privacy management software is expected to reach USD 8.1 billion by 20274).
One Creation has already conducted several successful proofs of concept with Fortune 100 companies, and several clients are already using the platform productively – among them the Australian Securities Exchange ASX who are collaborating to introduce the One Creation embedded privacy platform to their market. Several other clients are currently being onboarded.
"Our traction so far validates our vision to embed privacy in every application and device and provide the controls needed to establish a trusted relationship between brands and consumers," says One Creation CEO Zohar Hod. He continues "Only 12 months after starting development of our highly advanced solution, several of our clients are already using it. This is giving them an edge over their competitors with new trusted services and higher ESG scores. All because they are able to use and monetise data in full transparency, security and safety. Their customers can rest assured that their data is secure and not being misused. This is only the beginning. In the future, every device will need to have and embedded privacy solution. Our market is really in the multi trillion dollar range".
Marika Lulay, CEO of GFT said: "Privacy is becoming crucial for all businesses and I believe One Creation is absolutely at the forefront of this megatrend. They have already been incredibly successful in their first year and I am convinced that their development in the future will be even more positive. So, it is only logical for us to double down on our investment."
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1) https://www.cisco.com/c/dam/en_us/about/doing_business/trust-center/docs/privacy-gains-business-benefits-of-privacy-investment-white-paper.pdf
2) https://www.mckinsey.com/business-functions/risk-and-resilience/our-insights/the-consumer-data-opportunity-and-the-privacy-imperative
3) Digital Rights Management Market Size, Share, Trends & Forecast (verifiedmarketresearch.com)
4) https://reports.valuates.com/market-reports/QYRE-Auto-964/global-privacy-management-software
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SOURCE GFT
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