We Will Be Bigger Than Atlassian, Says CTO OF Aussie Firm Data Republic

Aussie data exchange platform Data Republic has grand plans for the future which started to unfold this week when the company launched its Open Data Marketplace, a governed marketplace for organisations to list, exchange and collaborate on data exchange projects in a secure environment.
“I would say that we would be the next Atlassian, but I actually think we are going to do much bigger [things] than what Atlassian has done. I think we are doing something that’s so much bigger that nobody has ever even thought about,” Ryan Peterson, CTO of Data Republic told Which-50 between sessions at the Hadoop Summit in Melbourne this week.
Data Republic was founded in 2014 in Sydney and has designed a data exchanged platform built on top of a trusted legal framework. It’s backed by three big investors Westpac, NAB and Qantas.
The size of the opportunity for Data Republic comes down to organisations being able to understand the value of their data and being able to extract that value.
Peterson believes data valuation is the next really big thing.
“Think about a company’s valuation, say you find a company worth $1 billion, the latent asset of data sitting inside a storage unit is not valued at anything,” Peterson explains. “It might be indirectly valued as goodwill but, if you actually want to value a company and look at the data’s value you need to have enough exchanges to understand the market supply and demand metrics are around that data.”
“Now that we’ve got an actual marketplace where exchanges can happen more freely, we will get to a point where we will understand the valuation of that data and we can tell people what their information is worth.”
Take the example of Caesars Entertainment, the customer data in its loyalty program was valued at $1 billion when the casino group entered bankruptcy.
Data is a new currency and Peterson likened a data exchange to the shift from keeping money in a safe to moving it to a bank. “We think we are going to be the bank for data, where people feel comfortable and trusting putting data in and letting data flow around and turn into a monetary asset. We have to make sure it maintains the highest security and the highest trust level.”
Building a data exchange business will very likely give rise to competitors.
“It would shock me if we didn’t see more and more competitors coming creating more data marketplaces and exchanges,” Peterson said.
Getting Back To The Marketplace…
It was standing room only at the launch of Data Republic’s data marketplace this week at fintech hub Stone and Chalk.
Investors Westpac and Qantas Loyalty are among the brands that are already listing their data on Open Data Marketplace. Open government datasets, from data.gov.au, ABS and Bureau of Meteorology are also listed to allow users to quickly analyse and combine proprietary data to reveal new insights. Data Republic clips the ticket on the way through.
Consumers’ privacy is preserved with personal information encrypted and stored separately in Westpac’s Databank.
Users must apply and be authorised to get access to the marketplace and Data Republic’s technology provides organisations with complete oversight and control around who can access its data as well governing the permitted application or use of the data once exchanged.
Paul McCarney, co-founder and CEO of Data Republic, said there are significant productivity and social benefits that are already being unlocked by the open data trend.
“Whether its personalizing rewards for loyal customers, informing urban planning with up-to-date data, identifying fraudulent activity to lower premiums or just ensuring that a local retailer has enough umbrellas on a rainy day – the applications of secure, privacy compliant data exchanges are endless,” McCarney said.
“The data exists. With Data Republic’s technology, organisations and governments now have the secure infrastructure to leverage it without risking the privacy of consumers or the security of the data.”
The Social Problems We Can’t Solve (Yet)
Data Republic is developing a social good problem which once launched will have options for NGOs and research organisations to access and work with the data. The business believes making it easier for different data sets to move around will provide solutions to social problems.
“We spent quite a lot of energy looking at issues in the world and how there is a major lack of data available to help solve these issues,” Peterson said.
“We think to get people really trusting data exchanges we need to focus our energy on those social good programs first, so it becomes less about you sharing my information and more about big world problems,” Peterson said.
This article first appeared on B&T’s sister business site www.which-50.com and was written by the site’s editor Tess Bennett.
Please login with linkedin to comment
Advertising Standards Bureau Atlassian Data Republic einsights New SiteLatest News

In-Person Event! Hear From Ex-Monkey Justin Drape, BMF’s Christina Aventi, Dr. Karl Kruszelnicki (And All For Nix!)
They say the good things in life are free! Including tickets to this top event. (Disclaimer: doesn't include parking!)

Microsoft Build 2022 Conference Unveils A Number Of Key Updates On Windows, Office, And More
Microsoft’s Build conference for developers that took place yesterday showcased several important additions to the US tech giant’s PC software that will soon be released to the public. During the presentation, which was live-streamed for audiences all around the world, the company revealed their plans for various programs such as Teams. Microsoft will soon be […]

Australia’s Ad Standards Received 4675 Complaints In 2021, Up 33% Year-On-Year
Australia’s ad watchdog Ad Standards has released its annual Review Of Operations that provides an insight into advertising complaint statistics and key areas of work in 2021. Some 4675 advertising complaints were lodged last year, 33 per cent more than in 2020. The Ad Standards Community Panel considered a total of 315 cases and upheld […]

Global Study Finds Top Challenges For Journalists & Uncovers Relationships With PRs
Cision, a communications platform helping public relations and marketing professionals around the world understand, influence and amplify their stories, released its annual State of the Media report with responses from more than 3800 journalists from 17 global markets to understand challenges faced in a marketplace that is rapidly evolving, and how public relations can support […]

The Six Habits Of Successful Entrepreneurs
Alan Manly (main photo), OAM, is the CEO of Universal Business School Sydney (UBSS) and author of The Unlikely Entrepreneur. In this guest post, Manly offers tips from turning that side hustle into entrepreneurial greatness… Over the past few years, the success of leading businesses and entrepreneurs has been thrust into the spotlight like we […]

New Australian Circuits Announced For Cash Converters Supercars Eseries
The resident motorsports writer at B&T nearly broke his desk in excitement when this announcement was made.

Metarise Create Innovation With Australia’s First-Ever Web3 Incubator
Collective Campus, Australian innovation consultancy and start-up accelerator, is spinning off Metarise – a web3 venture fund and tokenized start-up accelerator focused on bringing web3 projects to life across Asia-Pacific. Having run numerous web2 accelerators in partnership with brands such as Microsoft, Village Roadshow, Charter Hall, and Mills Oakley, Metarise’s ANZ Launchpad will be run […]

TikTok Unveils A Whole New Field Of Marketing Opportunities Through #TikTokMadeMeBuyIt
The popular video sharing platform TikTok is showing agencies its unique potential as a place to share their products with its latest #TikTokMadeMeBuyIt campaign, which is becoming increasingly appealing with audiences and users. During the pandemic, TikTok became one of the breakout social media outlets, rapidly rising in account numbers as people all across the […]

Kim Kardashian Has Gone Viral After Being Caught Pretending To Eat A Burger In New Ad
Here at B&T we say a day without some Kardashian news is a day without sunshine. Get an instant tan with this stupidity.

Amanda Keller Tears Up While Discussing The Latest Tragic Mass Shooting In America
Amanda Keller gets teary over latest mass school shooting in the US. But what other response is there to the madness?

Creating The “Future-Fit” Marketing Partner
Amelia Thackway is here to explain how companies can search for long-term prospects in new partners after covid.

Nutella And The Oodie Team Up To Provide Some Warmth During Winter
Never mind covering yourself in chocolate, the new sexy food item is a warm jumper with Nutella logos all across it.

Tuesday TV Wrap: The Chase Grabs More Eyeballs Than Big Brother
Not watching this year's series of Big Brother? Well, get set for a guilt trip on these underwhelming numbers.

BBC Apologises For “Any Offence Caused” After “Manchester United Are Rubbish” Appears On Screen
Live gaffes B&T'd like to see are "Socceroos are rubbish", "Kyrgios is rubbish" & "Ryan Papenhuyzen's hair is rubbish!"

Is Smartphone Brand Loyalty Being Challenged In Australia? Find Out In Teads’ Mobile Intenders Study!
Get a first look at the Teads Mobile Intenders study here! It's digital, so arguably not ideal toilet reading material.

Flourish PR Lands Multiple New Clients
Flourish PR's local bottlo flush out of Moët piccolos as agency celebrates raft of new wins.

DDB Sydney Launches The Australiano Coffee For McCafé
DDB Sydney unveils uniquely Australian coffee for American franchise burger chain.

Snap CEO’s Warning Causes Social Media Stock Prices To Plummet
Snap boss Evan Spiegel issues investor warning, as wife Miranda forced to use E10 in the Rangie.

Craig Reucassel To Dissect Political & Social Issues With An All-Star Panel At VIVID
VIVID's not all shiny lights on buildings, it's also biting social discourse. But for most parts, it's shiny lights.

Netflix In Trouble For Trans Jokes In New Ricky Gervais Special
In news that should shock absolutely nobody, Ricky Gervais has offended some people with his latest joke.

Spotify Introduces Call-To-Action Cards As A Method Of Immersive Advertising
Music streaming service Spotify has created a new way for marketers to reach their target audiences with the launch of Call-To-Action (CTA) cards, a series of clickable, interactive companion display units for audio ads. Powered by Spotify’s Streaming Ad Insertion (SAI) technology, these CTA cards will be tied to the audio ads that Spotify users […]

Male Newsreaders Protest By Wearing Masks After Female Co-Anchors Are Forced By Taliban To Cover Their Faces
Does the Taliban ever get invited to parties? They'd be the boring, sober person you don't want to get stuck with.

Study: 31% Of Aussie Car Buyers Prioritise Price Over Safety, As Demand For New Vehicles Stalls
Study finds Aussie car buyers going for price over safety. Camira owners clearly not giving a shit about either.

InMobi Announces Expanded Charters For The Local Team In Australia & NZ
InMobi, a provider of content, marketing, and monetisation technologies that help businesses fuel growth, announced expanded charters for the local team in Australia and New Zealand (ANZ) today. Including the expansion of Richard O’Sullivan’s (main photo) role as VP & general manager, ANZ to double-hat and become VP of Agency Partnerships in Asia Pacific (APAC). […]

BrandCrowd Report: Sustainability Has Become A Top Priority For Aussies Post-Lockdown
BrandCrowd, the online creative marketplace that helps start-ups, businesses and entrepreneurs find and create their perfect logo, has today unveiled data and insights that showcase the impact of the pandemic on logo designs. The data compares sales of 44,000 logos from March 2021 to March 2022 in a bid to paint a clear picture of […]

Publicis Worldwide Goes All-Singing, All-Dancing In New Work For Destination Gold Coast
This new campaign shows the Gold Coast at its spectacular best! Even more so after they cleaned up all the spew.

Marty Sheargold Goes Full ‘Rob The Dentist’ On New Ad For Upcoming Triple M Radio Show
'Rob The Dentist' is the perfect match for Triple M's on-air playlist - them both being about 25 years old.

MFA Awards Return In-Person In October
The MFA Awards are back & in-person in October. Ready yourself for the comedic stylings of Julia Morris & the tiramisu.

Broadsheet Media Makes Two Key Promotions To Boost Its Sales And Partnerships Team
Broadsheet Media has bolstered its sales and partnerships team with two senior promotions following a stream of new client wins and a significant growth period for the independent Australian publisher. Christina Voss and Michila Macleod take on new leadership roles as part of the senior leadership team, led by general manager Sian Whitaker. Christina Voss […]

Creative Agency Snack Drawer Adds Netflix ANZ To Its Client Roster
In addition to landing the new partnership, Snack Drawer also wins the award for place I'd most like to visit at 3am.

JCDecaux Unveils DOOH Advertising E-Learning Platform
JCDecaux unveils DOOH E-learning platform. And luckily for you, it's not in French.

STIHL Announces Winner Of Australia’s Biggest Fan Competition
Nothing excites the B&T office like the arrival of the latest chainsaw news. Ladders and possibly power drills aside.

Doritos 3D Launch New AR-Boosted Experience On Snapchat That Will Have You Losing Your Head
To celebrate the return of the bold new Doritos 3D Crunch chip range across Australia, PepsiCo has partnered with Snapchat and Akcelo to create a personalised Augmented Reality (AR) experience that gives millions of users across the country the opportunity to experience the new 3D Dorito Chip in an innovative and personalised way. The puffed-up […]

Don’t Overthink It. Your Consumers Aren’t!
This young columnist asks are you guilty of overthinking? Now B&T wants you to take five minutes to think about that.

Social Soup Lands Chris Burt-Allan As Creator Director
We spent 10 minutes misreading creator director as creative director, felt ill, and promptly brought up some social soup

Nine Promotes Tina Andrew To Commercial Director Of 9Now
Tina Andrew named 9Now's new commercial director, as competition for a spot in the staff carpark escalates.