Ethyca offers free end-to-end privacy rights fulfillment for businesses

We’re excited to bring Transform 2022 back to life on July 19th and virtually July 20-28. Join AI and data leaders for sensible conversations and exciting networking opportunities. Register today!

In today’s digital marketplace, data is gold.

However, as businesses continue to embrace cloud technology and increase the volume of data they collect and share across environments, data privacy is increasingly a concern for consumers and companies.

But, data privacy is not cheap. In 2020, according to Cisco’s benchmark study, spending on data privacy solutions for both small and large companies nearly doubled, with companies allocating an average of 4 2.4 million to handle privacy-related issues.

One organization that is challenging the notion that businesses need to spend seven figures to protect their data from security breaches is Ethyca, a New York-based startup that plans to make the fulfillment of end-to-end automated privacy rights available for free.

Big data picture

According to a report by the Pew Research Center, about 70% of Americans say they feel their personal information is less secure than it was five years ago. Eighty-six percent have also tried to reduce or eliminate their online footprint.

With highly sensitive information stored across personal digital devices, corporate data centers, and multiple cloud platforms, organizations are now under tremendous pressure to reduce risks and keep pace with ever-changing regulatory requirements.

To ensure the customer’s identity is protected and the company’s reputation is tarnished, many enterprises are looking for new ways to use public data while protecting privacy, all of which has led to increased demand for data privacy tools.

Founded in 2018 by Cillian Kieran and Miguel-Burger Calderon, Ethyca has a platform that aims to provide engineers and production teams with the tools needed to make privacy compliance more accessible.

Ethyca, which works with the likes of InVision and IDEO and includes investors such as Lee Fixel, IA Ventures, Lechi Groom, Des Trainor (Intercom), Guillermo Rouch (Versailles) and Table Management (Bill Ekman), took the first step. Towards making privacy-a-code possible for any business with the launch of its Fides open source privacy engineering platform in late 2021.

Named after the Roman goddess of faith, Feeds is a human-readable descriptive language that allows one to write code with the privacy enshrined in it. Using this language, developers can easily find privacy-related information at any time in the software development process.

“Our goal is to make the privacy of each tech stack a default feature,” said Kiran, CEO of Ethyca. “Instead of just checking the legal compliance box, we decided to create a system that truly respects human users and works to restore their trust in the Internet.”

Venturebeat’s mission Transformative Enterprise is about to become a digital town square for technology decision makers to gain knowledge about technology and transactions. Learn more about membership.

Similar Posts

Leave a Reply

Your email address will not be published.