Hub Of All Things (HAT)
The HAT is the first-ever personal data exchange ecosystem that enables individuals and HAT-enabled organisations to exchange data with privacy and security by implementing global operating standards for personal data exchange so that the Internet economy can thrive for the betterment of society-
While there are many personal data lockers and repositories, the HAT has a schema that ‘flattens’ and ‘liberates’ vertical structures of data so that new mashups and new ways of putting together data for new services could be created to serve individual lives.
Individuals can acquire their own data from internet-connected objects or services, and this acquired data is then transformed by the HAT to enable individuals to contextualise their own data, making it meaningful and useful for decision-making. With that data, individuals can buy apps that allow them to analyse, view, trade or make important decisions based on their own data for a smarter and more effective life.
The HAT is therefore a personal data platform for firms to offer individuals services for their data in a scalable way, yet allowing individuals to personalise the data to their own needs for better decisions in their lives. Most importantly, the HAT and its transformed data is owned by the individual.
The HAT is analogous to the ‘email’ model. If you have an email account for your emails, you should have a HAT for your data. You can obtain a HAT from a HAT Platform Provider (HPP) who can choose to offer individuals a HAT with other services, much like the way we can choose between email providers today.
For firms, the HAT opens up opportunities for exchanges and use of personal data in a way that is privacy preserving. Firms can (1) build smart devices that individuals can control and acquire the data on the device onto their HAT; (2) build smart applications for individuals to make use of their data; or (3) help individuals exchange their data for better buying decisions.