Business agreements are a method of collaboration in which businesses share data under a predetermined set of rules, limitations and perimeters established between the parties.
In a business agreement, “Business 1” might give “Business 2” access to their bank statements to reference purchases made throughout August 2021. Business 2 is expected only to reference purchases made in August 2021 and not access any other transactions or purchases made at any other time. And while Business 2 may be contractually obligated to stay within the agreement’s limitations, the raw data may still be made available and can be misused.
This data-sharing method requires trust between all parties involved because there is no way to regulate how the complete set of data will be used or with whom it will be shared. The level of trust that business agreements require takes time and resources to build and maintain, which creates limitations surrounding who businesses can collaborate with.
TripleBlind’s solution is superior to business agreements because it operates at zero-trust, increasing collaboration possibilities and improving efficiency in data partnerships. TripleBlind ensures that sensitive data is used for its intended purpose and cannot be abused.
TripleBlind keeps data and algorithms private at every stage of a data project and never stores data itself. Blind de-identification protects assets from various forms of misuse, including:
- Malicious attempts to gain access to data or algorithms
- Semi-honest* but curious parties viewing raw data
- Unauthorized uses of data resulting from raw data being left behind after a job is completed
- Violations of data privacy laws, including GDPR, HIPAA, and data residency, because the raw data is never moved from behind the firewall of the data owner.
Unlocking private data sharing with TripleBlind’s solution allows businesses to collaborate more fully, compliantly and across broader horizons than business agreements. To learn more about how TripleBlind compares to other competitors and methods of data collaborations, follow us on LinkedIn and Twitter to be notified when we post the next installation in our Competitor Blog Series.
If you’d like to schedule a call or free demo to explore how TripleBlind can work for your business, please reach out to email@example.com.