Zenotta, which includes both the Zenotta data protocol and the Zenotta network protocol, has raised $10.7 million in its seed round to pursue solving what it calls the “data problem.”
The data problem, according to Zenotta, is simultaneously simple and complex.
Data contains two main qualities: the ability to contain information and value. That value can be derived contractually, economically, socially or legally.
Think about the ways that, for example, a land deed is essentially a collection of data that holds value because of the asset with which it’s associated. Alternatively, think of the ways that your personal data, when aggregated with millions of other people, drives value for social media companies who use it to attract advertising revenue.
“While machines can operate on information through logic and maths, they cannot preserve or describe value. This is the ‘data problem,’” said Andrew Kessler, CTO and co-founder of Zenotta.
“Zenotta converts any form of data or digital content into Smart Data – a rival and excludable digital asset that is truly unique and can be owned. This ownership gives the Smart Data value, and gives the owner the rights and control over their Smart Data asset, something that was previously unattainable.”