- The partnership strengthens Truflation’s real-time economic data capabilities.
- Users can monetize their data while still maintaining control over its use.
Truflation, a market leader in real-time economic data analytics, has formed a strategic partnership with Scannit, a pioneer in user-driven data monetization. This agreement, announced by Finbold on Friday, October 18, assurances to include Scannit’s user-consented data into Truflation’s existing platform, resulting in more comprehensive data that can assist businesses, analysts, and researchers alike.
Truflation currently records over 20 million goods from more than 80 data providers. The addition of Scannit’s user-controlled data will improve the platform’s ability to give critical financial information. The connection aims to improve access to economic data, allowing users to make more educated real-time trading decisions.
The collaboration represents a common logic of user empowerment and transparency. Truflation and Scannit are committed to creating a transparent environment in which people have greater control over their data and can be rewarded for their contributions.
Karl Nowak, Scannit’s CEO, highlighted the foundation of their collaboration, stating that, They are thrilled to partner with Truflation on this journey to redefine how data is collected, shared, and utilized. Their shared values of transparency and user empowerment will propel the development of new prospects for our customers and partners.
Stefan Rust, CEO of Truflation, highlighted that this partnership strengthens their commitment to making data accessible and verifiable for everyone involved. He believes it will bring significant benefits to all parties. And he asserted that such principles are essential for fostering trust and collaboration in the industry.
Expansion of Truflation Data Network
The partnership represents the start of a wider effort to promote a vibrant data ecosystem.The TRUF Network currently has over 782 data sources, ranging from US wheat to oil and lithium. Truflation’s strategy focuses on creating an ecosystem that promotes truth and transparency in economic data. By doing so, it seeks to transform this data into a valuable, tradable asset. This innovation will empower individuals and businesses to make more informed financial decisions.
Truflation aims to develop a symbiotic partnership with Scannit by utilizing user-driven information. The merger represents a significant step toward a more inclusive and transparent economic data landscape. It paves the way for increased participation and collaboration within the data economy.
Both firms actively promote transparent and equitable data conditions. As a result, traders, investors, and institutions can expect reliable access to accurate economic data. This commitment ensures the timely delivery of essential information to support informed decision-making. This initiative will enable better, data-driven decisions in an ever-evolving financial landscape.
