LONDON, January 29, 2016 /PRNewswire/ --
- EntrepreneurCountry Global has a community of 225,000 early adopters and is growing at 15% monthly
- EC Global to enable individuals to share in the financial and economic value of their personal data
In a global first, EntrepreneurCountry Global (EC Global) announces that it is recognising an individual's data as property rights of that person inside of the defined perimeter of its community.
EC Global 'Citizenship' will enable the individual inside of EntrepreneurCountry to share in the economic and financial upside of digital applications derived from the use of their data. They will be given the equivalent of a title to their data.
"Entrepreneur Country" is a new virtual, digital country where all constituents of the country create the architecture and operations. The social contract and modes of business have been shattered from the previous era; a new network-based, distributed power, individual-enabled model for business and society must and will emerge. The founders of EntrepreneurCountry believe that the ownership of one's own data is inevitable. Individuals can register to become citizens of this virtual country. 'Citizenship' will enable the individual inside of EntrepreneurCountry to share in the economic and financial upside of digital applications derived from the use of their data.
This new asset class of individual data will enable business models to account comprehensively for the inputs to digital revenues. EntrepreneurCountry Global will release new recommendations for the financial architecture of companies in 1H 2016, and invite corporations to test using that architecture.
EntrepreneurCountry Global today is a community of 225,000 'early adopters' and technology-minded people who are committed to the building of the future around Ecosystem Economics™, an investment methodology and operating system pioneered by Ariadne Capital. Ecosystem Economics describes the process for firms of how to build sustainable economics from the analysis of unit economics through to the test piloting of new applications in order to seize market opportunities and become platform firms.
EntrepreneurCountry Global has the support of and works closely with the 'C' suite of leading large enterprises who are committed to re-imagining their industries as ecosystems and developing a leadership position by engaging directly with consumers and valuing their ingenuity, creativity, and networks. EC Global has worked with banks, communications firms, insurance companies, media firms and retailers to design the future of their businesses by enabling them to 'go to EntrepreneurCountry' - tapping into an ecosystem of entrepreneurs, developers, tools developed for them. These leading large enterprises will be able to test pilot new business models optimising for the value of individual data being leveraged in new digital revenue streams through EntrepreneurCountry Global's new Citizenship programme.
More details of EntrepreneurCountry Citizenship will be revealed at the EntrepreneurCountry Forum on the 19th of April. Developers will be specifically invited in a specific #BuildaCountryChallenge session.
EntrepreneurCountry Citizenship has been informally known in the market as Project De Soto after the Peruvian economist, Hernando de Soto, who gave property rights to farmers and noted in his academic work that their behaviour changed. Specifically, people who had previously not had an ownership stake in their farms took more responsibility for the outcomes of their work once they did.
Commenting on the announcement, Julie Meyer, CEO of Ariadne, said:
"EntrepreneurCountry Global might work with an automotive firm to hypothesise about the future of the car in people' s lives. Can they still make money if no one buys cars, but rents them? If the car as platform is subservient to the smartphone, what is the effect on their firm? With EC Citizenship, an automotive company can also test pilot how the financial accrual of value from the data of car buyers to the car firm will affect the financial performance of the firm."
Amit Pau, Managing Director at Ariadne, commenting further:
"The new EU data privacy law will mean that corporations will need to ensure that they are not abusing consumer data. Currently, they use third party data randomly and for lead generation without the consumer's approval or any incentivisation . As part of the new General Data Protection Regulation GDPR , fines of 4% of revenue will be applied to corporates that abuse consumer data. EntrepreneurCountry Citizenship will enable companies to comply with this directive."
Julie Meyer continued, "A bank today could be interested in test piloting P2P lending. Why shouldn't they do this? They have customers with money and those who need money? This shift to P2P lending within a bank is more powerful if it is considered and evaluated with an understanding of how people's behaviour will change when they own the fundamental asset which drives the applications which drive the development of a consumer profile of them."
About EntrepreneurCountry Global
To collect your passport, become a citizen here: http://www.register.entrepreneurcountryglobal.com/
EntrepreneurCountry Global is open to all. For more details, visit:
- Twitter: @EnCountry
- Facebook: http://on.fb.me/1SjVub9
- YouTube: http://bit.ly/1JyicF6
More details about how to participate in the EntrepreneurCountry Forum as a delegate or partner here: http://www.entrepreneurcountryglobal.com/entrepreneurcountry-forum
About Julie Meyer, Founder of EntrepreneurCountry Global
About Amit Pau, MD of Ariadne Capital & EntrepreneurCountry Global; Partner, Ariadne Capital Entrepreneurs Fund and the Ecosystem Economics Fund I
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SOURCE EntrepreneurCountry Global