Thu.Aug 5th , Aug 2021 12:11:17 PM
GFT Technologies buys minority stake in data rights firm One Creation

GFT Technologies has reportedly announced its acquisition of a minority stake in data rights company, One Creation. The two organizations are set to approach prospective clients and are keen on collaborating on technology development for helping the monetization of digital and data rights, in turn ensuring control, compliance, and security.

One Creation has dedicated itself towards solving data-related problems through its ground-breaking platform, by deploying the DAML smart contract technology that has been developed in collaboration with GFT.

Sources cite the company’s prospects are bright, with the generation of almost 7.5 septillion gigabytes of data on a daily basis. One Creation is also conducting numerous pilot projects with Fortune 100 early adopters, as the protection of the digital rights of this data represents a huge market to be targeted.

According to GFT CEO, Marika Lulay, One Creation can come up with a powerful and clever solution for some of the biggest issues before the digital economy in the present as well as in the upcoming years. Lulay also stated that she is overjoyed that GFT has co-developed the platform, adding that One Creation has a very exciting future.

GFT’s solution is especially interesting for insurance companies as well as banks, and through the company’s decades of experience and deep knowledge regarding those sectors, it is only logical that these issues should be addressed together, added Lulay.

Since data is the new oil, there is a universal and near consensus that monetizing and gathering the digital and data rights forms a vital factor for the consistent success of organizations in virtually all sectors and industries.

The need for safe solutions is further underscored by the fact that there is no safe manner of monetizing and sharing these rights in close-ended environments or beyond the first party that consumes it, as the data is being misused and there is also an upsurge in new business and data insights.

Source Credit: https://www.finextra.com/pressarticle/85893/gft-acquires-minority-stake-in-start-up-one-creation

 

By Shreya Bhute

With corporate exposure in software and marketing, Shreya was always intrigued by content development. Having pursued her graduation in I.T. engineering, she works as a content writer for people.partilepep.com and jots down news articles across distinct domains including technology, business and healthcare.