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Send ideas for posts to info@pde.cc. Guest authors welcome. We love to announce events with notice and to review new personal data designs and products.

The Mydex Story, Part 4

One of the joys of working with the PDEC membership is getting to know the people and their companies.  It is safe to say that passion is a common trait.   We experience this during the monthly PDEC conference calls, as well as in other communications (meetups, calls, workshops and conferences).  As a result of conversations during a recent monthly PDEC conference call and subsequent communications, we are pleased to offer a four part blog post series from guest blogger David Alexander.

David is the Chief Executive, Co-Founder and and Platform Architect at Mydex.  This is the fourth in a series of  four posts in which David will shed light on the development of Mydex as a CIC, and the journey the company has been on, and where it is headed.  Enjoy reading it!


 

Mydex has been a member of the PDEC Start-Up Circle since its inception. In this series of blog posts David Alexander gives an update on Mydex the Community Interest Company, the Mydex Trust Framework, its ISO27001 certified platform and as a certified Fair Data company.

We are doing this in four parts.

Mydex has been members of the PDEC Start-Up circle since its inception. In a series of blog posts over the next few days David Alexander, Mydex CEO, C0-Founder and Platform Architect, is giving an update on Mydex the Community Interest Company, the Mydex Trust Framework, its ISO27001 certified platform and as a certified Fair Data company.

We are doing this in four parts.

You can read Part One and Two on how Mydex has tackled some of the hard problems first.

Part Three looks at Mydex as a Community Interest Company and why this is so important.

Part Four today discusses Mydex’s business model and focus.

What is Mydex’s business model?

Our goal is sustainability over the long term and ongoing execution of our social purpose and mission. To achieve this we have created a simple commercial model that delivers a pay as you go approach for use of the platform. Individuals pay nothing and give up nothing – they are the community we serve.   Connecting organisations and apps developers pay. This means it scales easily and there is no barrier to entry.   That makes us inclusive and open to all.

Choosing this funding route was another aspect of doing the hard parts first. Our chosen pathway is doubly challenging. But we believe that our success in this approach will mean we have established a secure, sustainable foundation for an irreversible transformation in how individuals manage and control their personal data and its use by others, they will be truly empowered.

And so far, we are being successful. We have survived the hardest part of the journey. We have live personal data stores (try for yourself here). We have contracts with clients. We have apps using the platform. We have many exciting discussions under way and a growing pipeline of organisations and apps developers connecting and planning their connections to the Mydex platform. And as you would expect we have ambitious plans.

So what don’t we do? That is easy and clear. We don’t do consultancy, integration services or application development. Our connecting organisations have suppliers for those or do it themselves.

That’s part of why we believe we will be successful; we are totally focused on doing what we need to do (which is big and ambitious enough) and not dissipating resources on doing things other people are better at doing and already doing.

Mydex CIC has laid the foundations of trust, which are a combination of legal, technical, and commercial elements with independent external verification.

We have provided the means for individuals to securely capture, store, organise and share personal data from all aspects of their lives with whomsoever they need to in a way that places them at the centre of their lives and interactions with the outside world. In short they are empowered and as we all know personal control over personal data is good for everyone…….

TheMydex Story, Part 3

One of the great joys of working with the members of PDEC is getting to know the people and their companies.  It is safe to say that passion is a common trait.   We experience this during the monthly PDEC conference calls, as well as in other communications (meetups, calls, workshops and conferences).  As a result of conversations during a recent monthly PDEC conference call and subsequent communications, we are pleased to offer a four part blog post series from guest blogger David Alexander.

David is the Chief Executive, Co-Founder and and Platform Architect at Mydex.  This is the third in a series of  four posts in which David will shed light on the development of Mydex as a CIC, and the journey the company has been on, and where it is headed.  Enjoy reading it!


 

Mydex has been a member of the PDEC Start-Up Circle since its inception. In this series of blog posts David Alexander gives an update on Mydex the Community Interest Company, the Mydex Trust Framework, its ISO27001 certified platform and as a certified Fair Data company.

We are doing this in four parts.

Part Three today looks at Mydex as a Community Interest Company and why this is so important.

We are a CIC a “Community Interest Company”

That means we operate as a disciplined, commercial entity. However, two thirds of any profits go back to our social purpose which is to ‘help individuals realise the value of their data’. Critically, we are asset locked: that means there is no trade sale, flotation or exit strategy for the shareholders. Our shareholders are in it for the long term. This means three important things.

  • First, we serve the individual – their empowerment is our core aim, it shapes all that we do.
  • Second, it means we have avoided diversions caused by the wrong sources of funding where the short term demands of investors can divert us from our long term strategy.
  • Third, we are not built for exit. We are built for sustainability and long term duration. (We believe investors can and will make lots of money, but only by committing to long term mission).

And those three things mean that large organisations and governments can work with us safe in the knowledge that we will be here not only next year, but in five years time, and in 20 years time. To repeat: we are here for the duration.

We are positioning ourselves as the neutral zone (Switzerland) of personal data. We are neutral. We are not competing with any companies or app developers over the monetisation of data or personal services. We are acting as the infrastructure and platform for the trusted use of data. This means everyone within the ecosystem can work with us, confidently and safely.

 

The Mydex Story, Part 2

One of the joys of working with the diverse membership of PDEC is getting to know the people and their companies.  It is safe to say that passion is a common trait.   We experience this during the monthly PDEC conference calls, as well as in other communications (meetups, calls, workshops and conferences).  As a result of conversations during a recent monthly PDEC conference call and subsequent communications, we are pleased to offer a four part blog post series from guest blogger David Alexander.

David is the Chief Executive, Co-Founder and and Platform Architect at Mydex.  This is the second in a series of  four posts in which David will shed light on the development of Mydex as a CIC, and the journey the company has been on, and where it is headed.  Enjoy reading it!


 

Mydex has been a member of the PDEC Start-Up Circle since its inception. In this series of blog posts David Alexander gives an update on Mydex the Community Interest Company, the Mydex Trust Framework, its ISO27001 certified platform and as a certified Fair Data company.

We are doing this in four parts.

Part Two today continues to discuss how Mydex has tackled some of the hard problems first. You can read Part One here.

How we are cracking the hard problems first:

As well as creating the right infrastructure and architecture as discussed in Part One we have also worked to:

  • make it possible for individuals to benefit safely and securely from what cloud has to offer. Individuals can deploy their personal data store wherever they want to locate it but the default is the cloud.
  • tackle the hard data problems first, like access to and secure storage of data, and managing the consent and permission for its use and sharing. Key in this is solving for the long term the challenge of how to assure identities and make proofs of claim that actually let people get things done online with no fuss or risk.
  • construct a simple but enforceable trust framework to transparently govern how all parties using the Mydex platform can access and use data and share that with the world via the Open Identity Exchange.
  • promote interoperability and transparency across the different layers of the personal data ecosystem through using open standards and publishing our schema and API openly and making access to our sandbox free of charge.
  • demonstrate that this is substance, not rhetoric. We are one of the UK Government’s five ID Assurance Providers listed on G-Cloud. This meant passing all the tests a Government supplier needs to including the security, scalability and sustainability necessary to operate at a national scale.

This has all taken time but we’ve done it and now we are there and growing. We don’t shout about it because we are on a journey, these are the steps along the way.

It has also taken considerable time and money. We will discuss this in Part Three tomorrow

The Mydex Story, Part 1

One of the joys of working with the many members of PDEC is getting to know the people and their companies.  It is safe to say that passion is a common trait.   We experience this during the monthly PDEC conference calls, as well as in other communications (meetups, calls, workshops and conferences).  As a result of conversations during a recent monthly PDEC conference call and subsequent communications, we are pleased to offer a four part blog post series from guest blogger David Alexander.

David is the Chief Executive, Co-Founder and and Platform Architect at Mydex.  In this four part series of posts David will shed light on the development of Mydex as a CIC, and the journey the company has been on, and where it is headed.  Enjoy reading it!


Part One

We have been members of the PDEC Start-Up circle since its inception and although we are based in the UK we know we are working on something with global implications. We have always felt engagement with fellow travelers is an essential part of making it happen and this is why PDEC is so important.

So here is Mydex CIC on Mydex the Community Interest Company, the Mydex Trust Framework, its ISO27001 certified platform and as a certified Fair Data company. We work for individuals and deliver benefits to everyone.

We are different and we are proud of it. So let’s set it out clearly who and what we are.

We will do this in four parts.

  • Part One and Two look at how we have tackled some of the hard problems first.
  • Part Three looks at Mydex as a Community Interest Company.
  • Part Four discusses Mydex’s business model and ongoing focus.

We were one of the first personal data stores and we are still around

Mydex CIC was founded on a clear social purpose, a legal structure that fosters trust and maintains independence and a technical platform that makes that concept real and tangible. We have stuck to our principles and we are still here and growing every month. We are live, we have won contracts, have major organisations connecting and activating and we have not had to compromise our values or business model. We are proud of that.

We have chosen to crack the hard problems first. We have worked hard to:

  • build a personal data infrastructure that is highly available, that can scale to offer our service securely globally, and is fast and resilient;
  • create an architecture of unique individually encrypted personal data stores under the control of the individual. Critical in this is that the individual and only the individual has the key. Mydex CIC is a “zero-knowledge” end to end encrypted service which has no access to or control over an individual’s data. We simply provide the means to collect, store, organise and share it securely.
  • build security into everything we do – the whole company is ISO 27001 compliant which means we operate to globally recognised standards for information security management. We are also a certified Fair Data company.

We’re in this for the long haul unlike ‘here today, gone tomorrow’ startups seeking to make a quick turn on an idea. That is why we became a CIC, became ISO27001 and Fair Data certified. It takes time, conviction and resolve to make that happen.